EnWave Signs Technology Evaluation and License Option Agreement with Extrx OY

VANCOUVER, British Columbia, Sept. 21, 2020 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed a Technology Evaluation and License Option Agreement (the “Agreement”) with Extrx OY (“Extrx”) to evaluate the potential commercial use of the Company’s Radiant Energy Vacuum (“REV”) dehydration technology for the dehydration of a variety of wild arctic berry products in Finland.

During the term of the Agreement, Extrx will rent a 10kW REV machine for intensive product development at its facility in Northern Finland with the assistance of EnWave’s expert food scientists. If commercially viable products are developed under the Agreement, Extrx will purchase REV machinery to commence commercial production in 2021.

The expansion of EnWave’s global royalty-partner network to Finland further demonstrates the significant value proposition of REV technology for food producers seeking to launch new and innovative premium ingredient and snack food applications. EnWave has developed a comprehensive intellectual property portfolio with patents granted in numerous international markets and has licensed REV technology to more than forty companies in eighteen countries worldwide.

About Extrx OY
Extrx is a Finnish company that produces high quality anthocyanin extract, alongside with other nutraceutical products and functional foods from wild arctic berries. Besides extract, Extrx’s product line includes juices, fresh purees rich in fiber, dried berry products with high nutritional values and various other products. The wild arctic berries are hand-picked and immediately frozen to avoid losing any single component of those super berries. Extrx specializes in creating value-add B2B products from nature’s own superfood, arctic berries, for the food & beverage, nutraceutical, cosmetic and pharmaceutical industries.

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.