EnWave Corp (TSX-V:ENW, OTC:NWVCF) announced that it amended its royalty-bearing license agreement with BranchOut Foods granting the Peruvian company exclusive rights to produce dried blueberry products using EnWave’s Radiant Energy Vacuum (REV) technology.
Under the revised agreement BranchOut will pay a minimum of US$50,000 in annual royalties from blueberry product sales starting in 2025.
Additionally, BranchOut will continue to pay minimum exclusivity royalties for other product rights covered in the existing agreement.
BranchOut operates three large-scale REV machines, two of which were commissioned last quarter, and produces a diverse range of dried fruits and vegetables.
It has launched several direct-to-consumer snack products, including dried brussels sprouts, bell peppers, bananas, avocados, and pineapple chips, while also offering third-party manufacturing services for established consumer brands.