EnWave Sells Third REV™ Machine to U.S. Army for Production of Close Combat Military Rations
VANCOUVER, B.C. FEBRUARY 10TH, 2021
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed a Purchase Contract (the “Agreement”) with the United States Army Combat Capabilities Development Command Soldier Center (“U.S. Army”) to supply a 10kW Radiant Energy Vacuum (“REV™”) dehydration machine. This machine will be used by a third-party contract manufacturer (the “Manufacturing Partner”) to produce Close Combat Assault Rations for field testing. The Manufacturing Partner will be selected and approved by the U.S. Army.
This Agreement marks an important milestone in the U.S. Army’s plans to advance the use of EnWave’s REV™ technology. By selecting a Manufacturing Partner and purchasing additional machinery, the U.S. Army will be able to source commercial REV™-dried products for use in Close Combat Assault Rations that they acquire from approved MRE suppliers. EnWave intends to negotiate commercial processing rights with the Manufacturing Partner to continue utilizing REV™ technology to manufacture military rations for the U.S. Army on an ongoing basis, and potentially to sell REV™-dried products to their commercial customer base.
The U.S. military is seeking lighter field rations that will keep troops fueled and satisfied while improving nutritional quality and taste. The Close Combat Assault Rations developed by the U.S. Army using REV™ technology are up to 40% lighter than standard ready-to-eat meals (“MREs”), are nutrient-dense and extremely compact. The U.S. Army plans to sign a cooperative research and development agreement (the “CRADA”) with the Manufacturing Partner to operate the 10kW REV™ equipment at its industrial-scale food processing facility to produce several shelf-stable, compressed, REV™-dried Close Combat Assault Rations. The use of the 10kW REV™ machine by the Manufacturing Partner will be limited to solely supplying the U.S. Army under the terms of the CRADA, but may sell to commercial customers after signing a royalty-bearing commercial license agreement with EnWave.
About the U.S. Army Combat Capabilities Development Command Soldier Center (CCDC Soldier Center)
Formerly known as the U.S. Army Natick Soldier Research, Development and Engineering Center, the U.S. Army Combat Capabilities Development Command Soldier Center optimizes and modernizes individual soldiers and squad performance, and increases combat readiness and lethality to ensure dominance in multi-domain operations. CCDC Soldier Center uses science and engineering expertise, in collaboration with the Department of Defense, industry, and academia partners in the innovation ecosystem, to advance soldier/squad performance optimization, readiness, lethality, and synthetic training environments. The CCDC Soldier Center’s research and development focus is concentrated on six core domains, each of which provides exactly what the soldier needs given the unique combat environment in which they serve. These include Basic & Early Applied Research; Clothing & Protective Equipment; Airdrop/Aerial Delivery; DoD Combat Feeding; Expeditionary Maneuver Support; Soldier/Small Combat Unit Technology Maturation & Demonstration; Human Systems Integration Sciences; and DoD Combat Feeding. This Soldier Center ensures our Soldiers are optimized, protected, and lethal.
DOWNLOAD THIS RELEASE
EnWave Corporation, a Vancouver-based advanced technology company, has developed a Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patented 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 the new dehydration standard in the food and biological material sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:
1. nutraREV® which is used in the food industry to dry food products quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour; and
2. quantaREV® which is used for continuous, high-volume low-temperature drying.
More information about EnWave is available at www.enwave.net.
Mr. Brent Charleton, CFA
President & CEO
For further information:
Brent Charleton, CFA
President & CEO at +1 (778) 378-9616
Dan Henriques, CA, CPA,
Chief Financial Officer at +1 (604) 835-5212
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.
All Blog Financials News Press Release