EnWave Signs Equipment Purchase Agreement and License Amendment with Sprouted Proteins SAC
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed an Equipment Purchase Agreement (the “EPA”) and a License Amendment (the “Amendment”) with Sprouted Proteins SAC (“Sprouted Proteins”) of Peru. Sprouted Proteins signed a royalty-bearing license agreement (the “License Agreement”) with EnWave on February 26, 2024.
The Amendment grants Sprouted Protein with the exclusive right to produce certain starch-based snack products and instant soup mixes in Peru and sets annual minimum exclusivity royalty payment amounts payable to EnWave.
Further, Sprouted Proteins has purchased a 10kW REV™ machine and is leasing a second 10kW REV™ machine to ramp up commercial production. Pursuant to the Amendment, Sprouted Proteins must purchase a large-scale REV™ machine prior to September 30, 2025 to keep their exclusive license rights.
About Sprouted Proteins SAC
Sprouted Proteins SAC, headquartered in Peru, is a leading player in the health and wellness industry, specializing in high-quality plant-based protein products. Founded in 2015, the company has rapidly established itself as a trusted name in the market, focusing on sustainable sourcing and innovative processing techniques that enhance nutritional value.
Beyond its own product line, Sprouted Proteins SAC is a specialized manufacturer providing production services for diverse brands. The company operates eight state-of-the-art product lines dedicated to extruded products, cereal and protein bars, cookies, sauces, tortilla snacks, powders, and supplements. Every product is 100% gluten-free and GMO-free, ensuring the highest standards of purity and safety.
With its unique sprouting process that enhances digestibility and maximizes nutrient absorption, Sprouted Proteins SAC caters to health-conscious consumers while maintaining a strong commitment to sustainability and innovation. As one of the most diverse manufacturers in the region, the company continues to set industry standards, meeting the growing demand for plant-based nutrition across South America and beyond.
About EnWave
EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV™) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.
With more than fifty royalty-generating partners spanning twenty-three countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.
EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.
Learn more at 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
Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net
Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
