EnWave Signs Technology Evaluation and License Option Agreement with Wyckoff Farms for the Drying of Premium Hops
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed a Technology Evaluation and License Option Agreement (“TELOA”) with Wyckoff Farms Inc. (“Wyckoff Farms”) to trial the use of a 10kW Radiant Energy Vacuum (“REV™”) dehydration machine for the drying of premium hop products. The 10kW REV™ machinery will be installed at Wyckoff Farms’ facility located in Grandview, Washington, USA. During the term of the TELOA, Wyckoff Farms will hold an exclusive option to license EnWave’s technology for the drying of hop products in the United States of America.
Wyckoff Farms is the parent company of MicroDried®, one of EnWave’s longest standing licensed partners of REV™ drying technology. Since 2012, MicroDried® has used REV™ drying to create 100% all-natural, high quality dried fruit and vegetables that are rich in nutritional values and health benefits.
Over the past decade, Wyckoff Farms has solidified its commitment to REV™ technology by scaling up to three large-scale REV™ machines, all operating at MicroDried’s processing facility in Nampa, Idaho.
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EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Vancouver, 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 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 and cannabis producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits:
• Food and ingredients companies can produce exciting new products, reach optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.
• Cannabis producers can dry four to six times faster, retain up to 20% more terpenes and 25% more cannabinoids, and achieve at least a 3-log reduction in crop-destroying microbes.
Learn more at 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
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