EnWave Corp (TSX-V:ENW, OTC:NWVCF) said it has signed a new royalty-bearing license agreement and equipment purchase deals with longtime partner MicroDried, granting the US-based food ingredient producer expanded rights to use EnWave’s vacuum-based dehydration technology.
The agreement includes exclusive rights for MicroDried to produce mochi and Greek yogurt products in North America using EnWave’s Radiant Energy Vacuum (REV) drying process, along with additional non-exclusive rights to manufacture other dairy-based applications such as shredded cheese and cheesecake.
MicroDried supplies ingredients to many of the world’s largest consumer packaged goods companies.
As part of the agreement, MicroDried will pay incremental annual royalties on top of its existing obligations under a previous license covering fruits and vegetables.
MicroDried also agreed to purchase two 10-kilowatt and one 60-kilowatt REV machines from EnWave. One 10kW and both 60kW units will be installed at a new dairy processing facility in Washington State, which the company expects to bring online this summer. The second 10kW unit will support product development efforts at MicroDried’s headquarters in Nampa, Idaho.
“With five large-scale REV machines under its control, MicroDried now holds the highest REV manufacturing capacity of any company in the world,” EnWave said in a statement.
EnWave said it would now begin building another large-scale REV machine for its inventory, citing expected demand from its sales pipeline.