EnWave Corporation Acknowledged by Industry Partner Bonduelle for Contributing to Innovative InFlavor Development
Part of the excitement associated with the Radiant Energy Vacuum (REV) technology developed by EnWave Corp (TSXV:ENW – $1.25 & OTC:NWVCF – $0.95 & Frankfurt:E4U – €0.81) is generated by the wide array of new products that have been created or improved using the process. It is astonishing that even at this relatively early stage, so many partnerships have been forged with established companies in a diverse range of sectors, and that so much commercial success has been achieved as a direct result of these alliances.
One of the successful breakthroughs using REV technology was achieved in the frozen vegetables industry. Using a quantaREV machine, Bonduelle, a multinational food processor, is able to partially dry vegetables prior to freezing them as part of its packaged product line. The process enables a more appealing method of food preservation such that frozen vegetables retain the texture and flavor similar to when freshly picked. The end result was a new category of frozen vegetables called InFlavor.
The InFlavor product line has become a commercial success story for Bonduelle, as the method provides a superior product to other options currently available using conventional technology such as air drying or spray drying of vegetables.
The rising sales trend for InFlavor frozen foods again demonstrates the success of the technology. With a presence in more than 100 countries, Bonduelle has marketing clout that contributes to higher overall sales and therefore a rising royalty payment stream for EnWave through its licensing agreement.
Prestigious Award Presented to EnWave Partner Bonduelle
Recently, Bonduelle was recognized at the Association for the Development of Research and Innovation of Quebec (ARDRIQ) trade show with the Innovation Grande Enterprise award for its success advancing the InFlavor process. Upon accepting this prestigious award, Bonduelle representatives also acknowledged EnWave as a contributing partner in the development process.
Achieving an industry award and gaining additional recognition for the InFlavor product line will contribute towards further sales growth for Bonduelle and may encourage this industry-leader to expand on its production capacity with a follow up order for a larger 300kW quantaREV machine, in addition to the 120kW machine currently in operation.
Pending Release of Quarterly Financial Results
This week, EnWave announced that it will be releasing its fourth quarter financial results on December 17, 2018. This quarter includes operations through to the fiscal year end in September 30, 2018. The earnings results are highly anticipated after a very positive Q3 was reported by the Company late August.
As the commercial rollout for REV technology continues at EnWave, it will benefit from the successful results achieved by each of its partners. A core competency of the business relationship is the proven ability to collaborate in research and development with industry leaders to create new commercial applications for REV machines.
Each new license agreement builds the royalty income for the Company, and each new success story that is achieved will contribute to open other doors and position EnWave for exciting new development opportunities with other partners. This has been the strategy employed by the Company that has led to rapid growth, and a string of breakthroughs in several industrial sectors, building a global presence of products created using REV processing technology.
The presentation of the award to Bonduelle at ARDRIQ, and the acknowledgement in support of EnWave as a partner in the development process, is yet another indication of the positive results that established companies are securing as a result of adopting REV technology. This recognition through high profile industry conferences is the best form of advertising that an emerging technology can achieve as a statement to other market participants. The pressure to innovate and move forward with new technology and greater efficiency is the driving force behind product development. Other companies will step forward to investigate REV processing for their own growth objectives and this will lead to new partnerships for EnWave in the future. Recommendation: BUY.
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