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EnWave Signs Equipment Purchase Agreement with Calbee Inc. to Expand Commercial Manufacturing Capacity
June 29, 2020, 6:00 am
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed an Equipment Purchase Agreement with Calbee, Inc. (“Calbee”), a leading global snack manufacturing company, to commission an additional two 10kW Radiant Energy Vacuum (“REV™”) dehydration machines in Japan. The addition of the two 10kW REV™ machines will significantly expand Calbee’s commercial manufacturing capacity to launch its new line of REV™-based snack products.
Calbee has successfully developed several “better-for-you” snack products internally using REV™ technology and intends to intensify its commercial efforts throughout 2020, focusing on premium, healthy fruit and vegetable snack products.
Calbee entered into a royalty-bearing commercial license agreement with EnWave approximately one year ago, and the purchase of the two additional REV™ machines demonstrates the commercial value of using EnWave’s proprietary technology for producing premium snack products.
Calbee continues to have the exclusive rights to commercialize EnWave’s REV™ food dehydration technology for the development of several premium, healthy fruit and vegetable snack products and ingredients in the country of Japan. The installation of the two additional 10kW machines will triple the royalty-bearing production capacity of Calbee in Japan.
Calbee, Inc. is one of the largest snack food companies in Japan and is a leader in the manufacture and sale of potato, flour-based snacks, and processed cereals. Calbee holds over 50% market share for the domestic Japanese snack market and holds over 70% market share for potato-based snacks. Outside of Japan, Calbee also has major international presence in the snack markets in the United States, Korea, China, Hong Kong, Thailand, Singapore, Indonesia, Australia, and the United Kingdom with several well-known household brands. The company was founded on April 30, 1949, and is headquartered in Tokyo, Japan.
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:
- 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
- quantaREV® which is used for continuous, high-volume low-temperature drying.
More information about EnWave is available at www.enwave.net.
Brent Charleton, CFA
President and CEO
For further information:
Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
Dan Henriques, CPA, CA, Chief Financial Officer at +1 (604) 835-5212
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