EnWave signs evaluation deal with global food company

EnWave Corporation (TSX-V: ENW) announced it has entered into a Technology Evaluation and License Option Agreement with a multinational food company that generates annual revenues exceeding $20 billion.

The agreement allows the unnamed partner to conduct commercial-scale evaluation of EnWave's Radiant Energy Vacuum dehydration technology across multiple food categories. Following successful evaluation, the partner can negotiate commercial royalty-bearing licenses for the technology.

The partner operates in retail grocery, snack foods, breakfast cereals, frozen foods, convenience meals, and ingredient solutions, distributing products in more than 100 countries with internationally recognized brands.

The evaluation program will assess the technology's ability to preserve flavor, texture, color, and nutritional characteristics while reducing drying times compared to conventional dehydration methods. The partner will also evaluate potential for premium product innovation and manufacturing efficiencies across high-volume product categories.

Evaluation work is expected to begin in the coming months at the partner's facilities and at EnWave's innovation center in Vancouver, Canada.

EnWave, based in Delta, British Columbia, develops vacuum microwave dehydration technology for food, pharmaceutical and cannabis industries. The company has more than 50 partners across 24 countries operating under royalty-bearing commercial licenses.

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