EnWave Corp (TSX-V:ENW, OTC:NWVCF) this week announced it is entering the Brazilian market through a partnership with Solve Solutions.
CEO Brent Charleton joined Proactive to discuss the move, wich marks EnWave’s fourth royalty partnership in South America.
Proactive: Welcome back inside our Proactive newsroom. Joining me now is Brent Charleton, the President and CEO of EnWave Corp (TSX-V:ENW, OTC:NWVCF)oration. Brent, great to see you again. How are you?
Brent Charleton: I'm great, Steve.
Good stuff. It's good to have you along, especially because you have a pretty big, exciting announcement out for the company today. This is something we talked about at the end of 2024—wanting to see more of these types of deals. This one is significant because it involves an area of the world you haven't worked in before.
You're exactly right. This is our first foray into the Brazilian market. We have royalty partnerships in Colombia, Peru, and Chile. So this will be the fourth country we've entered into in South America. We're really excited about doing so with Solve Solutions.
This company is interesting. They've got a lot of different areas they work in, correct?
Yes, it's one company within a parent company that operates in several industries successfully, including the textile industry and food manufacturing, among others. Overall, it's a well-capitalized partner that has already invested in building a facility to house the first machine. That will go down in early Q3 of our fiscal year to begin testing. Assuming testing goes well, they would likely acquire that 10-kilowatt starter unit and look at a larger unit later in calendar 2025.
Is this a great example of what you're trying to showcase? They came out to your facility in Delta, British Columbia, and did testing there before deciding to move forward. That must be a positive for how you operate the business.
Definitely. A critical part of our sales process is the ability to showcase the merits of our technology firsthand at our innovation center locally. Additionally, we have many partners with successful commercial products in the market that we can point to as case studies. So not only does the technology work as we say it will, but the products produced are selling in the market, and there’s demand from consumers.
Talk to me a bit about Brazil. Is it a big market, or do you see more opportunity there as well?
Very much so. Domestically, there are different cost profiles for the products being sold in regional markets. However, there’s a fantastic opportunity to harness the quality of raw materials available and the low-cost labor for export opportunities. Solve Solutions will focus on both domestic distribution, on a B2B and B2C basis, and international opportunities.
I imagine this is the first of many projects you’re hoping for in 2025. Talk about the year ahead and the work you’ll be putting in.
It should be a very busy next few months. We have a strong pipeline of deals, both for large-scale and small-scale machine purchase orders. We’re working to close these and start fiscal 2025 with a strong footing to ensure a great year ahead.
Quotes have been lightly edited for clarity and style