EnWave Signs Commercial Royalty-Bearing License with KL Ballantyne Pty Ltd and Receives Purchase Order for REV Machinery

VANCOUVER, British Columbia, Jan. 08, 2020 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave,” or the "Company”) today announced signing a royalty-bearing commercial license (the “License”) with KL Ballantyne Pty Ltd (“Ballantyne”), a leading Australian dairy company.  The License grants Ballantyne the exclusive right to produce dairy products in Australia using the Company’s patented Radiant Energy Vacuum (“REV”) technology, excluding direct-to-consumer cheese snack products.

This License is the third royalty-bearing license signed with an Australian company, the fifteenth such license signed for dairy product processing worldwide and further proves the value proposition of REV technology as a tool to create innovative, premium food applications in the dairy industry.

In addition to the License, Ballantyne signed an equipment purchase agreement to acquire a 10kW REV machine to initiate commercial production. Ballantyne has agreed to pay an undisclosed royalty tied to the commercial success of REV-dried products that they commercialize.

Pursuant to the License, Ballantyne has additional, undisclosed REV machine purchase order requirements that must be met in order to maintain their exclusivity in the future.

About KL Ballantyne Pty Ltd

Ballantyne is a family-owned company with a tradition of unstinting customer service and rigorous quality control. This is backed by a willingness to invest in innovative manufacturing and packaging technology. Ballantyne brings a special quality to its relationship with its customers - a quality which inspires confidence and transcends the boundaries of language, nationality, and culture.

For more information about Ballantyne, please visit www.ballantyne.com.au.

About EnWave

EnWave Corporation, a Vancouver-based advanced technology company, has developed 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 technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors, including legal cannabis. EnWave’s 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.