EnWave Signs Commercial License Agreement with Major

VANCOUVER, British Columbia, July 19, 2021 (GLOBE NEWSWIRE) — EnWave Corporation (TSX-V: ENW | FSE: E4U) (“EnWave”) announced today that it has signed a Commercial License Agreement (the “License”) with a leading Colombian dairy company (the “Colombian Dairy Company”) for the production of shelf-stable dairy snacks in Colombia. The Colombian Dairy Company has also purchased a 10kW Radiant Energy Vacuum (“REV™”) machine to initiate commercial production of all-natural cheese snacks.

The License grants the Colombian Dairy Company the exclusive right to produce crunchy, shelf-stable cheese snacks in Colombia pursuant to meeting certain minimum royalty and machine purchase order requirements. These new products will complement the Colombian Dairy Company’s broad, existing portfolio of established dairy brands that are currently being sold throughout South America. The Colombian Dairy Company intends to develop and commercialize nutritious, REV™ dried dairy snacks for the Colombian grocery market and has longer term ambitions to expand distribution into Ecuador and Venezuela, among other South American markets.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e5ed4ea4-2932-4f1c-8a49-c804e797d45a

The use of REV™ to create shelf-stable, value-added dairy products has been proven in over a dozen markets globally. This License marks the inaugural launch of REV™ dried cheese snacks into the Colombian market and is EnWave’s second royalty-bearing license agreement granted to produce dried cheese snacks in South America.

EnWave’s scalable and reliable REV™ technology can be used to produce shelf-stable fruit and vegetable products that are among the best in nutritional value, taste, texture and colour. EnWave has signed 45 royalty-bearing commercial license agreements with companies that are bringing innovative new products to market using EnWave’s patented dehydration technology.

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 high-quality, 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. It has signed over forty royalty-bearing licenses to date in twenty countries worldwide. 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@enwave.net

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

For Media Inquiries:
Email: media@enwave.net

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