EnWave Signs License Amendment with Creations Foods to Expand License to Include Pet Treat Applications
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed an amendment ( the “Amendment”) regarding the royalty-bearing license agreement (the “License”) signed with Creations Foods US Inc. (“Creations Foods”) in March 2023, which granted the right to produce dried cheese snacks using the Company’s Radiant Energy Vacuum (“REV™”) dehydration technology. The Amendment grants Creations Foods an additional right to now produce dried cheese snacks for pet treat applications on a non-exclusive basis in the United States.
With several confirmed pet treat customers, Creations Foods believes there is a material opportunity to expand its business in the pet food industry. EnWave hopes to see Creations Foods max out their current REV™ manufacturing capacity and consider additional manufacturing investment in the coming quarters.
In addition to this Amendment, EnWave is currently working to attract new licensed partners in the pet treat and pet food industry to use REV™ technology for new, innovative applications. In April, the Company’s sales team exhibited at the Pet Food Forum in Kansas City, Missouri, where several new qualified leads were engaged.
About Creations Foods
Creations Foods is an innovative snack food company dedicated to creating unique eating experiences that both delight and nourish. Creations Foods primary purpose is to offer creative, better-for-you foods without compromising nutritional profile, quality, or taste.
Creations Foods operates out of a high-volume, gluten-free facility located in Ferndale, Washington producing mini-cookies, crackers, wafers, cheese crisps and other snack foods. This state-of-the art facility is dedicated to producing unique branded as well as private-label and co-manufactured offerings that permit indulgence without compromise. For more information, please visit www.creationsfoods.com.
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 royalty-generating 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
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