EnWave Completes 10kW REV Machine Sale to NuWave Foods For Production of Shelf-Stable Baked Goods

VANCOUVER, British Columbia, April 20, 2021 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”) announced today that it has completed the sale of a 10kW Radiant Energy Vacuum (“REV”) machine to NuWave Foods, Inc. (“NuWave”), a Canadian company focused on launching new and innovative shelf-stable bakery products. NuWave entered into a royalty-bearing license agreement with EnWave to use REV technology for a lineup of shelf-stable bakery products in November 2020 (the “License”). NuWave must purchase a 60kW or greater rated power REV machine to retain the exclusivity for its lineup of shelf-stable bakery products granted under the License.

NuWave is commercializing a lineup of bakery products with elongated shelf lives, including donuts, fritters, and cheesecake products, and is actively pursuing distribution into the Canadian retail grocery market. This bakery advancement reduces retail spoilage and minimizes the risk of products expiring on store shelves without being sold. If material distribution is secured, NuWave will require large-scale REV machinery to meet demand from its customers.

Additionally, NuWave is leveraging EnWave’s patented dehydration technology to manufacture a line of cannabis-infused bakery products for its sister company, Spaced Food Inc., at its commercial bakery facility in Edmonton, Alberta. Spaced Food recently announced distribution for its products in British Columbia and Ontario, with distribution also targeted for Saskatchewan and Alberta. Under the terms of the License, NuWave will pay a royalty to EnWave on all products manufactured using REV technology.

EnWave’s scalable and reliable Radiant Energy Vacuum technology can be used to significantly extend the shelf-life of baked goods while maintaining textures and flavors that are comparable to freshly baked products. This presents a major opportunity to reduce loss from expired goods by elongating shelf-life and improving profitability for consumer baked goods companies. EnWave believes that REV technology will provide significant value to the baked goods industry as the REV drying process slows the retrogradation or recrystallization of starch molecules, which contributes to the ‘staling’ process.