Technology Evaluation and License Option Agreement Signed Between EnWave and California Table Grape Producer

EnWave (TSX Venture:ENW) announces that it has signed a Technology Evaluation and License Option Agreement with a leading Californian table grape producer. EnWave’s proprietary Radiant Energy Vacuum deydration technology is applicable to food and pharmaceutical companies.
According to the press release:

The Agreement grants the GP the exclusive right to develop crispy grape snack applications using EnWave’s Radiant Energy Vacuum (“REV™”) technology for a seven month period (the “Term”). During the Term, the GP will conduct market research and rent a small commercial-scale nutraREV^® machine (the “Machine”) to complete product application trials. The GP will pay US$37,500 as an upfront rental fee for the Machine’s use during the Term. At any point during the Term, the GP may exercise their exclusive option to license REV™ technology for the commercial production of crispy grape snack products in the State of California (the “Option”). If the GP exercises the Option, they will be required to submit a purchase order for at least one 100kW REV™ machine. All other terms of the Agreement are confidential.

Click here to read the full EnWave press release.