EnWave Corp (TSX-V:ENW, OTC:NWVCF) announced that it has signed an Equipment Purchase Agreement and a License Amendment with MicroDried, its longest-standing royalty partner.
MicroDried, a US-based producer of fruit and vegetable ingredients, has leveraged EnWave’s Radiant Energy Vacuum (REV) dehydration technology since 2012 to produce food ingredients for top brands.
Under the agreement, MicroDried will acquire an additional 60kW REV machine to increase production capacity and meet growing demand for its shelf-stable, clean-label products.
The company currently operates three large-scale REV drying lines in Idaho, and has the option to purchase a second 60kW unit before July 31, with a bulk discount applied if the option is exercised.
The license amendment grants MicroDried exclusive rights to use REV technology for apple ingredient production in Washington, Oregon, and Idaho.
EnWave’s REV machinery is eligible under the United States-Mexico-Canada Agreement and tariff-free, the company highlighted.