EnWave Signs License Agreement Amendment with Patatas Fritas Torres S.L. of Spain, to Expand Product Portfolio and Minimum Royalty Requirement

EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed an amendment (the “Amendment”) to the royalty-bearing license agreement (the “License Agreement”) entered into with Patatas Fritas Torres S.L. (“PFT”) of Spain. The Amendment expands the product portfolio for PFT, who is focused on commercializing healthy, protein-rich snack products. PFT will leverage its existing distribution network to quickly broaden its product offerings in the global, fast-growing, nutritious, shelf-stable snack space. Under the terms of the Amendment, PFT will pay EnWave additional minimum annual royalties in exchange for the expanded product definition.

PFT currently manufacturers cheese snacks using 10kW and 100kW Radiant Energy Vacuum (“REV™”) machinery procured from EnWave. This product portfolio expansion should lead to increased manufacturing utilization and open the potential for additional REV™ machinery purchases in the future.

About Patatas Fritas Torres S.L.
Patatas Fritas Torres S.L.  is a subsidiary of Gala Foods, a food business group that includes brands distinguished for their quality and innovation such as Patatas Torres and Just This.  Gala Foods is committed to offering consumers a unique gastronomic experience through high quality products, making their products with the best raw materials and ingredients on the market. 

For more information on Gala Foods, please visit www.galafoods.es.

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  

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