EnWave Corp (TSX-V:ENW, OTC:NWVCF) announced that it has entered into an Equipment Purchase Agreement with BranchOut Foods for the sale of a 120kW Radiant Energy Vacuum (REV) dehydration machine.
The new machine, destined for BranchOut Foods’ production facility in Peru, marks the company’s fourth large-scale REV installation.
BranchOut Foods, described by EnWave as one of its fastest-growing licensed royalty partners, manufactures a range of dried fruit and vegetable products.
These are distributed under its own brand, through private-label programs, and as bulk ingredients supplied to other food manufacturers.
Alongside the purchase agreement, the two companies signed a license amendment granting BranchOut Foods expanded rights related to the production of dragon fruit products using REV technology.
Under the revised terms, EnWave will not issue additional licenses for dragon fruit applications provided BranchOut Foods meets certain royalty thresholds during the term of the agreement.