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Be the first with the news that moves the market- Technology company, EnWave (ENW) has signed a technology evaluation and license option agreement with Finnish fruit business, Extrx OY
- Extrx produces various extracts, nutraceuticals, and food products including juices and purees from hand-picked, wild arctic berries
- Under the agreement, the Finnish company will rent a 10 kilowatt REV machine from EnWave, to evaluate its dehydration technology
- Extrx will test the machine in Northern Finland, for dehydrating its wild arctic berries into commercially viable products
- EnWave (ENW) is down 2.35 per cent and is currently trading at C$0.83 per share
Technology company, EnWave (ENW) has signed a technology evaluation and license option agreement with Finnish fruit business, Extrx OY.
Extrx’s main offerings are goods produced from locally sourced wild arctic berries. The berries are hand-picked and immediately frozen, in order to preserve their “super food” properties.
Using the berries, the company produces high-quality anthocyanin extract, a natural pigment which turns plants blue, purple, or red. In addition to the extract, Extrx also produces nutraceutical goods and food products, such as juices, fresh purees, and dried berries.
The company’s berry products currently have applications in a variety of industries, including food and beverage, nutraceuticals, cosmetics, and pharmaceuticals.
Under the evaluation and license agreement, the Finnish company will rent a 10 kilowatt Radiant Energy Vacuum (REV) machine from EnWave. Extrx will evaluate the REV machine’s ability to dehydrate the wild arctic berries for product development.
Extrx plans to test the machine at its facility in Northern Finland, with some help from EnWave’s expert food scientists. If the company is able to produce commercially viable products with the REV machine, Extrx will buy additional machines for commercial production in 2021.
This latest agreement with a Finnish company demonstrates EnWave’s relentless expansion of its global royalty-partner network. The company has licensed its REV technology to over 40 companies in 18 countries worldwide thus far, with little sign of slowing down.
In the last five months alone, EnWave has signed agreements regarding its REV technology with numerous food-focused enterprises. These include a European fruit and vegetable company, a Japanese snack manufacturer, a Mexican food company, an Italian food producer, and an Irish dairy snack company.
EnWave (ENW) is down 2.35 per cent and is trading at C$0.83 per share at 10:18am EDT.
