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EnWave signs royalty-bearing commercial license with established South American food manufacturer

(Globe Newswire) Vancouver — EnWave Corporation has signed a new royalty-bearing commercial license with an established South American food manufacturer that currently sells health supplements, snacks, cereals, baked goods, among other products.

The Royalty Partner also signed an equipment lease agreement to lease two 10kW Radiant Energy Vacuum (REV^®) dehydration machines, enabling immediate commercial production for the products developed in collaboration with EnWave. The Royalty Partner will have the option to buy both 10kW REV^® units within six months at a pre-agreed price.

Concurrent with signing the lease agreement and as a condition to keep the commercial license, the Royalty Partner is finalizing financing to procure a 120kW REV^® machine, which must be completed within six months.