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EnWave Signs Research and Development License Agreement with Moorepark Technology Limited and Receives Purchase Order for REV™ Machinery
September 23, 2019,6:00 am
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed a Research and Development License Agreement (the “Agreement”) with Moorepark Technology Limited (“MTL”). MTL has also committed to purchasing a 10kW Radiant Energy Vacuum (“REV™”) dehydration machine to be used at its pilot plant in Cork, Ireland.
Under the Agreement, MTL will use the REV™ machinery for research and development purposes to market EnWave’s REV™ technology to key stakeholders in the Irish food manufacturing industry seeking to develop innovative, premium food products. The pilot plant facility will effectively serve as a proving ground for prospective future royalty partners of EnWave to evaluate the merits of REV™ technology. The installation of a pilot-scale REV™ machine at MTL’s pilot plant will increase the visibility of EnWave’s technology to potential new royalty partners, and will serve as a location for product trials, early stage commercial validation and technology demonstrations.
EnWave personnel will collaborate closely with MTL’s team to showcase REV™ technology to potential new royalty partners on a project-to-project basis.
About Moorepark Technology Limited
MTL operates an ultra modern pilot plant covering 3,000 sq. metres floor area. Their facility contains the most up-to-date and versatile pilot scale processing equipment for food research and development. MTL’s core business is the rental of that pilot plant to food companies and public research institutions for the purposes of carrying out product and process development, training, or small scale start-up manufacture. Total investment in MTLto-date is over €12m made up of industry contributions, company own funds and State/EU grants.
While the pilot plant was established around dairy processing technologies, it now has a wide range of capabilities in general food and food ingredient development. MTL is arranged in a modular structure of self- contained processing areas. This guarantees single client access and total confidentiality.
For more information, please visit http://www.moorepark.ie/
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
Deborah Honig, Corporate Development at +1 (647) 203-8793
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