EnWave Corp (TSXV:ENW – $1.19 CAD & OTC:NWVCF – $0.96 USD & Frankfurt:E4U – €0.80), which offers industrial-scale dehydration technology for commercial applications in the food and pharmaceutical spaces, signed a Technology Evaluation and License Option Agreement (TELOA) with Sun-Rype Products Ltd, a leading Canadian fruit-based food and beverage manufacturer.
During twelve months Sun-Rype and EnWave will collaborate to develop unique and innovative fruit-based snacks using the Company’s Radiant Energy Vacuum (REV) dehydration technology. Initially, Sun-Rype will make use of EnWave’s test facility in Vancouver, BC to develop products. In a later stage, the food and beverage producer could rent a small scale REV machine to complete its due diligence on the technology and market opportunity for its new products.
Sun-Rype is a Canadian beverage and snack company based in Kelowna, BC. The company grew out of the fresh fruit business in the Okanagan Valley. In 1946, British Columbia fruit growers created BC Fruit Processing Ltd. to produce a 100% pure apple juice, made with apples straight from the orchard. The new juice was named “SunRype” and so it all began.
Although Sun-Rype has come a long way since then, as it has added many different fruit juices and fruit snacks to its product assortment, its SunRype 100% Unsweetened Pure Apple Juice remains the company’s signature fresh pressed juice.
Sun-Rype sources its ingredients from around the world to find the best manufacturers of the highest quality 100% fruit juice concentrates and purees. By sourcing internationally, it is able to find products that are not available in North America and can ensure that the Sun-Rype products are available year-round. Sun-Rype products are available across Canada and the USA.
Consumers Changing Eating Behaviors
What was once unthinkable is now reality, snacking is dominating the eating behaviors of many consumers worldwide.
Not so long ago, people sat down to eat three regular meals a day. Nowadays, eating and drinking can happen anywhere and at any time. No eating or drinking occasion typifies the fragmented, decentralized and no-rules modern eating culture than snacking. In fact, snacks now account for one of every five ‘eating occasions’, driving the demand for shelf-stable, healthy grab-and-go food choices.
Radiant Energy Vacuum technology enables EnWave’s commercial partners to capitalize on this important global food trend, as it allows for the development of many new innovative snacking options.
For example, numerous companies in the dairy industry have launched, or are testing, a dried cheese snack. The best known product in this category is obviously Moon Cheese, which is available in over 20,000 stores in North America. In the fruits category, Pitalia (Agricola Industrial La Lydia) will soon start selling pineapple, apple, mango and banana snack products through its Pure Joy brand in the European and South, Central and North American markets.
Also Jack Link’s, the number one meat snack manufacturer worldwide, is developing a REV dried meat snack for human consumption, while Perdue Farms is doing the same for pets. Finally, Born Wild, a seafood processor located in the United States, is collaborating with EnWave’s product development team to develop several unique seafood snack products.
A 2016 report from The Hartman Group, an authority on food and beverage trends, states that one in five consumers is snacking a lot more, or somewhat more often, compared to five years ago.
Food and beverage companies more than ever realize that the future of snacking presents multiple opportunities for them to relate with consumers around new, flexible eating styles. EnWave’s REV technology can help realize those opportunities as it offers the possibility to explore new kinds of foods that are healthier and more nutritious. Recommendation BUY.
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