Pursuant to the RDLA requirements, Rhizome has purchased the 3.6kW REV machine for continued commercial product development. The RDLA grants broad rights to use EnWave’s REV technology for research and development activities, including collaboration with third‑party food and agriculture companies regarding product and process development, as well as the production of limited volumes of commercial product for market trials.

By entering into the RDLA, Rhizome joins EnWave’s existing network of research and development partners, which includes institutions such as Cornell University, the Danish Technological Institute, QUT of Australia and CNTA in Spain. Each of these partners have acquired REV equipment to support collaboration with EnWave, leveraging the Company’s expertise and best practices to solve specific product‑application challenges and accelerate innovation using vacuum‑microwave dehydration technology. If Rhizome elects to scale successful concepts through its own dedicated manufacturing infrastructure, EnWave and Rhizome would expect to negotiate a full commercial license that reflects appropriate royalty‑bearing terms.

Rhizome intends to use REV technology as a core tool within its culinary and agricultural research ecosystem to explore “moonshot” ideas in shelf stability, nutrient density and flavor, while de-risking future commercialization opportunities. This work will leverage their extensive network of chefs, scientists and industry collaborators. 

About Rhizome

In 2025, Stone Barns and Blue Hill launched Rhizome Food and Farming LLC, a research and incubation company that conducts applied food-systems research to improve human and environmental health while giving equal weight to flavor. Rhizome combines Stone Barns’ expertise in regenerative agriculture and Blue Hill’s culinary innovation with the scientific capabilities of an external network of collaborators and researchers.

Rhizome’s R&D follows an iterative cycle of field evaluation, culinary testing, and nutritional analysis. This work generates two types of outputs: open-source research shared through media and academic publications, implementation support for industry, and commercial offerings such as products, licensed intellectual property, and consulting services.

Learn more at www.rhizome.food.

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Signs Research and Development License Agreement with Rhizome Food and Farming LLC, a Food Innovation Company Led by Michelin-Starred Chef Dan Barber appeared first on EnWave.

The license grants R&D rights to Teagasc to use EnWave’s proprietary Radiant Energy Vacuum (“REV”) dehydration technology in collaboration with its current and future clients and industry and research partners. The Equipment Purchase made by Teagasc is for a 10kW REV machine that will showcase their state-of-the-art facility with the value proposition of REV technology. The 10kW REV machine is expected to be delivered to Teagasc before the summer of 2026.

About Teagasc – the Agricultural and Food Development Authority of Ireland

Teagasc (Irish pronunciation: [ˈtʲaɡəsˠk], meaning “Instruction”) is the national authority in Ireland responsible for research and development, training and advisory services in the agri-food sector. The official title of the body is Teagasc – the Agriculture and Food Development Authority. The authority has several county advisory centres, colleges and research centres in which it carries out its main business. Teagasc has recently been awarded funding by the Department of Agriculture, Food and the Marine, that will support the delivery of a new project titled AIMBIO – All Island Marine Bio‑based Refineries for Circular Blue‑Bioeconomy. The project is coordinated by Teagasc and brings together a strong all‑island partnership of academic, research, and industry stakeholders. AIMBIO will demonstrate how side‑streams from Ireland’s marine and aquatic sectors, including aquaculture and seafood processing, can be transformed into high‑value ingredients for sectors such as food, feed, cosmetics, and chemicals. Teagasc will employ the new REV dryer to support the project by enabling rapid, energy‑efficient drying of marine and aquaculture side‑streams prior to further processing. REV dehydration technology will allow the team to generate consistent, scalable dried fractions for downstream extraction, formulation, and product development, strengthening the project’s ability to demonstrate industry‑relevant bioprocessing solutions.

Learn more at https://aim-bio.ie/ & Home – Teagasc | Agriculture and Food Development Authority.

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Signs License Agreement, and Equipment Purchase Agreement with Teagasc, the Agricultural and Food Development Authority of Ireland appeared first on EnWave.

All values in thousands and denoted in CAD unless otherwise stated.

• Reported revenue for Q1 2026 of $1,600, representing an increase of $423 relative to the comparable period in the prior year due to large-scale machine sales and increased royalties. During the period, the company commissioned one large-scale machine and completed the fabrication of two large-scale machines on contract.  
• Reported royalties, excluding exclusivity payments (“Base Royalties”), for Q1 2026 of $500, an increase of $75, or 18% relative to the comparable period in the prior year.  Reported total royalty revenue for Q1 2026 of $627, an increase of $68 or 12% relative to total royalty revenue in the comparable period in the prior year. Royalties grew due to increased royalty partners, product sales, partner production, and exclusivity payments for the quarter.
• Gross margin for the three months ended Q1 2026 was 37% compared to 29% for the three months ended Q1 2025. The increase in margin was a result of higher royalties and the production mix of large machines at various stages of commissioning and fabrication.
• Reported an increase in Selling, General & Administrative (“SG&A”) costs (including Research & Development (“R&D”) of $200 for Q1 2026 relative to the comparable period in the prior year, with the increase primarily related to more sales personnel, the timing of patent maintenance fees and professional fees. In the comparative period, legal costs associated with the Term Loan and Credit Facility were capitalized as part of the transaction.
• Reported an Adjusted EBITDA⁽¹⁾ loss of $585 for Q1 2026, an improvement of $50 from the comparable period in the prior year.

Consolidated Financial Performance:

⁽¹⁾ Adjusted EBITDA is a non-IFRS financial measure. Refer to the Non-IFRS Financial Measures disclosure below for a reconciliation to the nearest IFRS equivalent.

EnWave’s consolidated interim financial statements and MD&A are available on SEDAR+ at www.sedarplus.ca and on the Company’s website www.enwave.net

Significant Corporate Accomplishments in Q1 2026 and Subsequently:

• Signed a CLA with Gowen Gumlu Grower’s Association (“BGGA”) in North Queensland, Australia. BGGA acquired a 10kW REV machine from EnWave’s Australian third-party machine re-seller, Scitek.
• Signed a CLA with Shinyway International Limited, a service provider of cannabis processing based in New Zealand.
• Signed a CLA with a U.S. snack company and an equipment purchase agreement for a 10kW REV machine.

Non-IFRS Financial Measures:

This news release refers to Adjusted EBITDA which is a non-IFRS financial measure. We define Adjusted EBITDA as earnings before deducting amortization and depreciation, stock-based compensation, foreign exchange gain or loss, finance expense or income, income tax expense or recovery, non-recurring income and expenses,  restructuring and severance charges, and discontinued operations. This measure is not necessarily comparable to similarly titled measures used by other companies and should not be construed as an alternative to net income or cash flow from operating activities as determined in accordance with IFRS. Please refer to the reconciliation between Adjusted EBITDA and the most comparable IFRS financial measure reported in the Company’s consolidated interim financial statements.

Non-IFRS financial measures should be considered together with other data prepared in accordance with IFRS to enable investors to evaluate the Company’s operating results, underlying performance and prospects in a manner similar to EnWave’s management. Accordingly, these non-IFRS financial measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For more information, please refer to the Non-IFRS Financial Measures section in the Company’s MD&A available on SEDAR+ www.sedarplus.ca

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net.

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Reports 2026 First Quarter Consolidated Interim Financial Results appeared first on EnWave.

The Company has scheduled a conference call to discuss the results for Q1 2026 and business outlook on Friday, February 20, 2026 at 7:00 a.m. Pacific Time (10:00 a.m. Eastern Time). Brent Charleton, Chief Executive Officer and Dylan Murray, Chief Financial Officer will present EnWave’s results and host a question and answer period.

Conference Call Details:

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net.

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information concerning the completion of the Offering, the use of proceeds of the Offering, the approval of the TSXV, the growth of the Company’s production capacity and the effects thereof, and the management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing or statements that include words such as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words are forward-looking statements. These statements are based on the current opinions and expectations of management and are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially as described in more detail in the Company’s recent securities filings available at www.sedarplus.ca, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not intend, and disclaims any obligation, except as required by applicable laws, to update or revise any forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave to Report First Quarter Financial Results on February 19, 2026 and Host Investor Conference Call appeared first on EnWave.

In addition to signing the License, BGGA has acquired a 10kW REV machine from EnWave’s Australian third-party machine re-seller, Scitek, to begin commercial product development and early-stage manufacturing of REV-dried products. This REV equipment is expected to be commissioned before April 2026.  EnWave’s technical and food science teams will work closely with BGGA to ensure premium product quality and process optimization in preparation for the launch of commercial products by their membership base.

Given the breadth of BGGA’s member base and the product volumes produced each year, there is high potential for additional REV equipment sales to BGGA as they advance commercialization.

About Bowen Gumlu Grower’s Association

Bowen Gumlu Growers Association (BGGA) is a regional industry body that represents the interests of its members, horticultural growers, producers and associated agribusinesses in North Queensland.  BGGA’s key activities include member services, advocacy, workforce and industry development and the delivery of projects focused on improving on-farm practices, commercial outcomes for farming businesses and the prosperity of out regional community.

The region is the largest producer of winter vegetable crops in Queensland generating farm gate production worth approximately $650M AUD per annum.  Key commodities produced include tomato, capsicum, mangoes, cucurbits, beans and corn. The region’s growers employ approximately 1,500 workers throughout the year with an additional 2,000 workers during the harvest season. One in every five workers living in the region are supported by the sector.  The region’s products feed Australia and are exported to more than a dozen countries currently.

For more information about BGGA, please visit https://www.bgga.com.au. 

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Signs Royalty-Bearing License with Bowen Gumlu Grower’s Association of Australia appeared first on EnWave.

Additionally, 135,000 restricted share rights (“RSRs”) were awarded to the independent directors of the Company.  The RSRs were granted pursuant to the Company’s restricted share plan and will vest three years from the date of the award.  Equity incentive awards form part of the Company’s annual independent director compensation program.

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net.

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Announces Grant of Stock Options and RSRs appeared first on EnWave.

All values in thousands and denoted in CAD unless otherwise stated.

• Reported revenue for Q4 2025 of $6,219, an increase of $2,585 relative to the comparable period in the prior year. During the period, the company commissioned one large-scale and six small-scale machines, sold a refurbished 120kW machine, and continued the fabrication of two large-scale machines on contract.
• Reported Adjusted EBITDA⁽¹⁾ income for Q4 2025 of $1,407, an increase of $957 from the comparable period in the prior year, with the increase driven by machine sales and the production sales mix relative to the comparative period.
• Reported royalties, excluding exclusivity payments (“Base Royalties”), for Q4 2025 of $481, an increase of $113, or 31% relative to the comparable period in the prior year.  Reported total royalty revenue for Q4 2025 of $481, a decrease of $161 or 25% relative to total royalty revenue in the comparable period in the prior year. The decrease was related to an existing royalty partner that committed to multiple large-scale machines during the fiscal year, deciding not to continue with exclusivity in an unspecified Central American Country.  This partner redeployed capital to a different strategic area to house the recently acquired large-scale machines. The decrease was offset by an increase in Base Royalties due to the expansion of both product sales and REV machine capacity utilization.
• Gross margin for the three months ending Q4 2025 was 41% compared to 40% for the three months ending Q4 2024. The increase in margin was primarily a result of the production mix of large and small machines at various stages of fabrication.
• Reported an increase in Selling, General & Administrative (“SG&A”) costs, including Research & Development (“R&D”) of $223 for Q4 2025 relative to the comparable period in the prior year, with the increase primarily related to sales personnel, increased tradeshow attendance, and the timing of patent maintenance fees, offset by a decrease in legal and recruitment fees. 

Consolidated Financial Performance:

Note: ⁽¹⁾ Adjusted EBITDA is a non-IFRS financial measure. Refer to the Non-IFRS Financial Measures disclosure below for a reconciliation to the nearest IFRS equivalent.

EnWave’s annual consolidated financial statements and MD&A are available on SEDAR+ at www.sedarplus.ca and on the Company’s website www.enwave.net.

Key Financial Highlights for the Year Ended 2025 (expressed in 000’s)

• Revenue for the year ended 2025 of $13,829, compared to $8,181 for the year ended 2024, an increase of $5,648. The increase was primarily due to increased equipment construction contract revenue, small-scale machine sales and tolling fees.  
• Adjusted EBITDA income (refer to Non-IFRS Financial Measures section below) for the year ended 2025 was $309, compared to a loss of $1,489 for the year ended 2024, an improvement of $1,798. The increase in adjusted EBITDA was primarily due to higher machine sales relative to fiscal 2024.
• Base Royalties were $1,812 for the year ended 2025, an increase of $228 or 14% as compared to the prior year. Total royalty revenue for the year ended 2025 was $1,945 compared to $1,961 for the year ended 2024, a decrease of $16 or 1%. The decrease is a result of lower exclusivity payments offset by an increased number of royalty partners and the expansion of both product sales and REV machine capacity utilization.
• Gross margin for the year ended 2025 was 34% compared to 33% for the year ended 2024. The increase in margin was primarily a result of the production mix of large and small machines at various stages of fabrication.
• SG&A expenses (including R&D) for the year ended 2025 were $5,585, compared to $5,308 for the year ended 2024, an increase of $277. The increase is primarily related to increased tradeshow attendance, marketing activities, and sales personnel offset by reduced legal costs and professional fees.

Significant Corporate Accomplishments in Q4 2025 and Subsequently:

• Signed a CLA and equipment purchase agreements for two 10kW REV machines and one 60kW REV machine with Milne MicroDried®.
• Signed an equipment purchase agreement with Dairy Concepts for two additional 10kW REV machines to expand dairy snack production in Europe.
• Signed an equipment purchase agreement for a 120kW REV machine and a license amendment with BranchOut Food Inc.
• Signed an equipment purchase agreement for a 10kW REV machine and a CLA with Solve Solutions Ltda. 
• Signed a CLA with a U.S. snack company and an equipment purchase agreement for a 10kW REV machine.
• Signed a CLA with Shinyway International Limited, a service provider of cannabis processing based in New Zealand.
• Closed a fully subscribed private placement of 7,500,000 common shares of the company at a price per common share of $0.40, raising aggregate gross proceeds of $3,000. 

Non-IFRS Financial Measures:

This news release refers to Adjusted EBITDA which is a non-IFRS financial measure. We define Adjusted EBITDA as earnings before deducting amortization and depreciation, stock-based compensation, foreign exchange gain or loss, finance expense or income, income tax expense or recovery and non-recurring income and expenses, restructuring and severance charges, and discontinued operations. This measure is not necessarily comparable to similarly titled measures used by other companies and should not be construed as an alternative to net income or cash flow from operating activities as determined in accordance with IFRS. Please refer to the reconciliation between Adjusted EBITDA and the most comparable IFRS financial measure reported in the Company’s consolidated financial statements.

Non-IFRS financial measures should be considered together with other data prepared in accordance with IFRS to enable investors to evaluate the Company’s operating results, underlying performance and prospects in a manner similar to EnWave’s management.  Accordingly, these non-IFRS financial measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For more information, please refer to the Non-IFRS Financial Measures section in the Company’s MD&A available on SEDAR+ www.sedarplus.ca.

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net.

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Reports 2025 Fourth Quarter and Annual 2025 Consolidated Financial Results appeared first on EnWave.

The Company has scheduled a conference call to discuss the results for Q4 2025 and business outlook on Monday, December 15, 2025 at 7:00 a.m. Pacific Time (10:00 a.m. Eastern Time). Brent Charleton, Chief Executive Officer and Dylan Murray, Chief Financial Officer will present EnWave’s results and host a question and answer period.

Conference Call Details:

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net.

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information concerning the completion of the Offering, the use of proceeds of the Offering, the approval of the TSXV, the growth of the Company’s production capacity and the effects thereof, and the management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing or statements that include words such as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words are forward-looking statements. These statements are based on the current opinions and expectations of management and are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially as described in more detail in the Company’s recent securities filings available at www.sedarplus.ca, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not intend, and disclaims any obligation, except as required by applicable laws, to update or revise any forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave to Report Fourth Quarter and Annual 2025 Financial Results on December 15, 2025 and Host Investor Conference Call appeared first on EnWave.

Under the Commercial License terms, Shinyway has been licensed to use EnWave’s patented Radiant Energy Vacuum (“REV”) technology to produce cannabis products in New Zealand. Shinyway will pay a royalty commensurate with certain other existing licenses granted by EnWave, and the Company intends to continue working closely with Shinyway to ensure optimal product development success.

About Shinyway International Limited

Shinyway International Limited provides drying and trimming services for cannabis growers in New Zealand. While initially installing a single 10kW REV machine, Shinyway expects to maximize its competitive edge in drying service with the use of EnWave’s REV technology. Shinyway’s team is a dedicated group who brings extensive expertise and knowledge in cannabis processing and a genuine passion for supporting the growth and sustainability of New Zealand’s burgeoning cannabis industry. Driven by innovation and a commitment to excellence, the company employs cutting-edge processing techniques to ensure the highest standards of quality and efficiency.  Shinyway’s goal is to build strong, collaborative relationships with local growers, serving as a trusted partner that fosters mutual growth and success. With the robust support of EnWave, Shinyway is dedicated to advancing the industry, promoting responsible practices, and helping New Zealand establish itself as a leader in sustainable cannabis production.

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Signs Royalty-Bearing Commercial License with Shinyway International Limited of New Zealand appeared first on EnWave.

EnWave has been collaborating with the Licensee for several months, helping to perfect the drying process for the Licensee’s proprietary formulas. As a result of these joint efforts, the Licensee purchased a 10kW Radiant Energy Vacuum (“REV”) dehydration machine (the “Machinery”) for initial commercial production.  The Machinery will be installed at a large third-party manufacturing partner of the Licensee’s  in Mexico before the end of 2025.

The Licensee plans to launch its REV-dried products in Mexico in the first calendar quarter of 2026, with expansion planned into the U.S. market in 2027.

Under the Commercial License terms, the Licensee has secured the global rights to produce their proprietary fruit and vegetable-based snack products, so long as contracted annual minimum royalty requirements are met. Further the Licensee, has the non-exclusive right to produce several fruit and vegetable snack products to be marketed under their own brand.

More detailed pertaining to the Licensee will be released in conjunction with their official product launch in 2026.

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Signs Royalty-Bearing Commercial License with U.S. Snacking Company, Sells 10kW Radiant Energy Vacuum Machinery appeared first on EnWave.