EnWave Signs Equipment Purchase Agreement with Calbee Inc. to Expand Commercial Manufacturing Capacity

VANCOUVER, British Columbia, June 29, 2020 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company"), announced today that it has signed an Equipment Purchase Agreement with Calbee, Inc. (“Calbee”), a leading global snack manufacturing company, to commission an additional two 10kW Radiant Energy Vacuum (“REV”) dehydration machines in Japan. The addition of the two 10kW REV machines will significantly expand Calbee’s commercial manufacturing capacity to launch its new line of REV-based snack products.

Calbee has successfully developed several “better-for-you” snack products internally using REV technology and intends to intensify its commercial efforts throughout 2020, focusing on premium, healthy fruit and vegetable snack products. 

Calbee entered into a royalty-bearing commercial license agreement with EnWave approximately one year ago, and the purchase of the two additional REV machines demonstrates the commercial value of using EnWave’s proprietary technology for producing premium snack products.

Calbee continues to have the exclusive rights to commercialize EnWave’s REV food dehydration technology for the development of several premium, healthy fruit and vegetable snack products and ingredients in the country of Japan. The installation of the two additional 10kW machines will triple the royalty-bearing production capacity of Calbee in Japan.

About Calbee
Calbee, Inc. is one of the largest snack food companies in Japan, and is a leader in the manufacture and sale of potato, flour-based snacks, and processed cereals. Calbee holds over 50% market share for the domestic Japanese snack market and holds over 70% market share for potato-based snacks. Outside of Japan, Calbee also has major international presence in the snack markets in the United States, Korea, China, Hong Kong, Thailand, Singapore, Indonesia, Australia, and the United Kingdom with several well-known household brands. The company was founded on April 30, 1949 and is headquartered in Tokyo, Japan.

About EnWave
EnWave Corporation, a Canadian advanced technology company, has developed Radiant Energy Vacuum (“REV”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patented methods for uniformly drying and decontaminating cannabis through the use of REV technology, shortening the time from harvest to marketable cannabis products.