EnWave Signs License Agreement Amendment with BranchOut Food Inc., Granting New Product Exclusivity, Incremental Increased Minimum Royalty Requirement
VANCOUVER, British Columbia, Feb. 12, 2025 (GLOBE NEWSWIRE) — EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed an amendment (the “Amendment”) to the royalty-bearing license agreement (the “License Agreement”) entered into with BranchOut Foods Inc. (“BranchOut”) of Peru. The Amendment grants BranchOut the exclusive right to produce dried blueberry products using EnWave’s Radiant Energy Vacuum (“REV™”) dehydration technology in Peru. Pursuant to the Amendment, BranchOut will pay a minimum of US$50,000 in annual royalties relating to the sales of blueberry products beginning in 2025. BranchOut is also contracted to pay additional minimum exclusivity royalties to EnWave in 2025 for the other existing rights granted in the License Agreement.
BranchOut operates three large-scale REV™ machines, two of which were commissioned last quarter, producing a broad portfolio of dried fruits and vegetables. They have successfully launched several direct-to-consumer snack products including dried Brussel sprouts, bell peppers, bananas, avocados and pineapple chips. BranchOut also offers third-party manufacturing services for existing consumer brands.
About BranchOut Foods Inc.
BranchOut Food is a leading international food technology company, specializing in the production of high-quality dehydrated fruit and vegetable-based products through EnWave’s proprietary REV™ technology. This next-generation dehydration method preserves up to 95% of the original nutrition of fresh produce, offering superior quality and taste. Protected by over 17 patents, REV™ technology enables it to stand out as a trusted brand, ingredient and a private-label supplier. For more information, visit www.branchoutfood.com.
About EnWave
EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV™) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.
With more than fifty royalty-generating partners spanning twenty-three countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.
EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.
Learn more at EnWave.net.
EnWave Corporation
Mr. Brent Charleton, CFA
President and CEO
For further information:
Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net
Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net
Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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