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EnWave Signs Commercial License and Equipment Purchase Agreement with Orto Al Sole to use REV™ Technology in Italy

ID: 1559942
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(businesspress24) - Vancouver, B.C., August 5, 2020 - EnWave Corporation (TSX-V:ENW | FSE:E4U) (EnWave, or the Company - https://www.commodity-tv.com/ondemand/companies/profil/enwave-corp/ ) announced today that it has signed a royalty-bearing commercial license agreement (the License) with Orto Al Sole Di Gandini Claudio (Orto Al Sole) to produce fruit and vegetable snacks using EnWaves Radiant Energy Vacuum (REV) technology for the European market. Concurrently with signing the License, Orto Al Sole purchased a 10kW REV machine to initiate commercial production in Italy.

The License grants Orto Al Sole the exclusive rights to produce certain types of fruit and vegetable snack products in the country of Italy, and the products may be sold both domestically and internationally. Orto Al Sole is required to meet certain minimum performance requirements under the License to retain exclusivity, including minimum annual royalties and future equipment purchase obligations. Orto Al Sole will remit quarterly royalties to EnWave based on the revenue generated from the REV-dried products sold.

This License is the first signed by EnWave with an Italian company and the 39th signed worldwide. This License marks the continued expansion of EnWaves proprietary dehydration technology globally, with the value proposition for premium fruit and vegetable products already proven in numerous countries. EnWaves strategy is to secure many long-term license agreements with companies seeking both competitive and cost advantages, and to grow its portfolio of royalty-bearing licenses on a global basis.

About Orto Al Sole

Ortaggi Valtrebbia was founded in Italy in 1990 by Claudio Gandini and his brother. With decades of experience growing high-quality fruits and vegetables, the company has been constantly evolving over time and has established itself as an important producer in Italys Emilia Romagna region. Ortaggi Valtrebbia has a crop producing capacity of 2,500 acres, with a focus on the production of green beans, zucchini and pepper friggitello for large-scale distribution in the Italian and European fruit and vegetable markets.



In 2019, the Gandini family started a new project and founded Orto Al Sole to start the production of dried fruits and vegetables and have chosen to use REV technology to produce premium snack products that are Made in Italy.

For more information, please visit www.ortaggivaltrebbia.com.

About EnWave

EnWave Corporation, a Vancouver-based advanced technology company, has developed a Radiant Energy Vacuum (REV) - an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV technology, shortening the time from harvest to marketable cannabis products.

REV technologys commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors, including legal cannabis. EnWaves strategy is to sign royalty-bearing commercial licenses with innovative, disruptive companies in multiple verticals for the use of REV technology. The company has signed over thirty royalty-bearing licenses to date. In addition to these licenses, EnWave established a Limited Liability Corporation, NutraDried Food Company, LLC, to manufacture, market and sell all-natural dairy snack products in the United States, including the Moon Cheese® brand.

EnWave has introduced REV as a disruptive dehydration platform in the food and cannabis sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently offers two distinct commercial REV platforms:

1. nutraREV® which is a drum-based system that dehydrates organic materials quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour; and,
2. quantaREV® which is a tray-based system used for continuous, high-volume low-temperature drying.

More information about EnWave is available at www.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(at)enwave.net

Dan Henriques, CFO at +1 (604) 835-5212
E-mail: dhenriques(at)enwave.net

In Europe:
Swiss Resource Capital AG
Jochen Staiger
info(at)resource-capital.ch
www.resource-capital.ch

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.

Neither the TSX Venture Exchange nor it''s Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



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EnWave Corporation ist ein in Vancouver ansässiges Technologieunternehmen das kommerzielle Applikationen für ihre geschützte Radiant Energy Vacuum (REV™) Trocknungstechnologie anbietet.



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Date: 08/05/2020 - 15:05
Language: English
News-ID 1559942
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