EnWave Signs Commercial Royalty-Bearing License with KL Ballantyne Pty Ltd and Receives Purchase Order for REV™ Machinery
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EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave,” or the "Company” - https://www.commodity-tv.com/play/enwave-moon-cheese-highly-profitable-selling-more-rev-machines-in-2019/ ) today announced signing a royalty-bearing commercial license (the “License”) with KL Ballantyne Pty Ltd (“Ballantyne”), a leading Australian dairy company. The License grants Ballantyne the exclusive right to produce dairy products in Australia using the Company’s patented Radiant Energy Vacuum (“REV™”) technology, excluding direct-to-consumer cheese snack products.
This License is the third royalty-bearing license signed with an Australian company, the fifteenth such license signed for dairy product processing worldwide and further proves the value proposition of REV™ technology as a tool to create innovative, premium food applications in the dairy industry.
In addition to the License, Ballantyne signed an equipment purchase agreement to acquire a 10kW REV™ machine to initiate commercial production. Ballantyne has agreed to pay an undisclosed royalty tied to the commercial success of REV™-dried products that they commercialize.
Pursuant to the License, Ballantyne has additional, undisclosed REV™ machine purchase order requirements that must be met in order to maintain their exclusivity in the future.
About KL Ballantyne Pty Ltd
Ballantyne is a family-owned company with a tradition of unstinting customer service and rigorous quality control. This is backed by a willingness to invest in innovative manufacturing and packaging technology. Ballantyne brings a special quality to its relationship with its customers - a quality which inspires confidence and transcends the boundaries of language, nationality, and culture.
For more information about Ballantyne, please visit www.ballantyne.com.au.
EnWave Corporation, a Vancouver-based advanced technology company, has developed Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products.
REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors, including legal cannabis. EnWave’s strategy is to sign royalty-bearing commercial licenses with innovative, disruptive companies in multiple verticals for the use of REV™ technology. The company has signed over thirty royalty-bearing licenses to date. In addition to these licenses, EnWave established a Limited Liability Corporation, NutraDried Food Company, LLC, to manufacture, market and sell all-natural dairy snack products in the United States, including the Moon Cheese® brand.
EnWave has introduced REV™ as a disruptive dehydration platform in the food and cannabis sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently offers two distinct commercial REV™ platforms:
1. nutraREV® which is a drum-based system that dehydrates organic materials quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour; and,
2. quantaREV® which is a tray-based system used for continuous, high-volume low-temperature drying.
More information about EnWave is available at www.enwave.net.
Mr. Brent Charleton, CFA
President and CEO
For further information:
Brent Charleton, CFA , President and CEO at +1 (778) 378-9616
E-mail: [email protected]
Dan Henriques, CFO at +1 (604) 835-5212
E-mail: [email protected]
Deborah Honig, Corporate Development at + 1 (647) 203-8793
E-mail: [email protected]
Swiss Resource Capital AG
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