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Be the first with the news that moves the market- Dehydration tech company EnWave (ENW) has signed a second Equipment Purchase Agreement with Spanish snack producer Patatas Fritas Torres
- Under the agreement, Patatas Torres will buy a much larger 100 kilowatt Radiant Energy Vacuum (REV) machine from the company
- This purchase will help Patatas Torres to continue growing its portfolio of REV-dried cheese snack products
- EnWave plans to deliver and start up the 100 kilowatt REV machinery around May of 2021
- EnWave is up 1.94 per cent and is currently trading for C$1.05 per share
Dehydration tech company EnWave (ENW) has signed a second Equipment Purchase Agreement with Spanish snack producer Patatas Fritas Torres.
Patatas Torres is a Catalonian family business, which manufactures healthy and tasty potato chip snack products. The company has previously received the XXI International Food and Beverage Trophy in Paris, and the XXVII International Trophy for Quality for its products.
In March of this year, the snack company signed its first commercial royalty-bearing license with EnWave. The license gave Patatas Torres the right to produce cheese snacks in Spain, using the company’s Radiant Energy Vacuum (REV) dehydration technology.
Patatas Torres also previously purchased a small, 10 kilowatt REV machine from EnWave, in order to domestically manufacture those snacks. Under this latest Equipment Purchase Agreement, Patatas Torres will buy a much larger, 100 kilowatt REV machine from the company.
This second purchase indicates that the initial products manufactured through EnWave’s dehydration technology have met or exceeded quality expectations. This purchase will also help Patatas Torres to continue growing and launching its domestic portfolio of REV-dried cheese snack products, under the brand “Just this!”.
The business has also decided to diversify its cheese snack offerings, by developing multiple flavours and formats that will appeal to various international markets. These new variations will be exported to other countries and markets through Patatas Torres’ existing distribution network.
EnWave plans to deliver and start up the 100 kilowatt REV machinery around May of 2021.
EnWave is up 1.94 per cent and trading for C$1.05 per share, as of 9:48am EST.
