EnWave Corporation announced that it has completed the first sale of its continuous NutraREV food dehydration equipment to CAL-SAN Enterprises, Ltd. of Richmond, B.C. CAL-SAN has now completed the purchase of this technology, and has entered into a licencing and royalty agreement with EnWave.
The terms of this agreement include a license providing EnWave with a royalty of up to ten percent of CAL-SAN’s gross revenues from the sale of dried food products processed using the NutraREV technology. EnWave expects that future sales of this equipment will range in price between USD$800,000 and USD$1M. The agreement also provides a number of exclusivity provisions for CAL-SAN in the North American dried blueberry market. The sale of this nutraREV technology provides EnWave with its first commercial revenues and royalty stream, and the Company now plans to develop its food technology division further in order to build on this market opportunity.
NutraREV technology will compete with the current industry standard in food dehydration, freeze drying, and is designed to require approximately one-third of the energy of freeze drying with one-sixth the capital cost. NutraREV also dries food in minutes or hours rather than days. Based on EnWave’s pre-commercial test results with a wide variety of fruits, vegetables and herbs, NutraREV-dried products also retain excellent colour, flavour and texture, with similar nutrients and shelf-life to freeze drying, and at a variety of moisture contents as required by the target market.
