- EnWave (TSXV:ENW) has signed a license agreement with Michael Foods, a subsidiary of Post Holdings
- The license agreement will allow Michael Foods to produce certain products using the Radiant Energy Vacuum (REV) technology from EnWave in the United States
- Michael Foods has also purchased a 10kW REV machine from EnWave
- Shares of EnWave are unchanged at C$0.26
EnWave (TSXV:ENW) has locked in a commercial royalty-bearing agreement with Michael Foods, which is a subsidiary of multi-billion dollar food service, food ingredient and retail offerings provider Post Holdings.
In a news release, the Vancouver-based dehydration technology company said the deal will allow Michael Foods to produce certain products using EnWave’s Radiant Energy Vacuum (REV) technology in the United States.
The REV technology is EnWave’s patented process of vacuum microwave drying that dehydrates food and plants more efficiently and of a higher quality.
The agreement also enables an ongoing royalty stream linked to the commercial sales of any REV-dried products produced and sold by Michael Foods during the length of the agreement.
Michael Foods produces and distributes a range of innovative egg and potato products, with its brands including Papetti’s, Abbotsford Farms, Simply Potatoes and Easy Eggs.
EnWave is a global leader in the innovation and application of vacuum microwave dehydration. The company also has more than 50 royalty-generating partners across 26 countries and five continents.
Shares of EnWave are unchanged at C$0.26.
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