EnWave’s Corona-Related Stock Plunge Significantly Exaggerated
EnWave Corporation (CA:ENW – $0.61 & US:NWVCF – $0.43 & GER:E4U – €0.40) offers industrial-scale dehydration technology for commercial applications in the food, cannabis, and pharmaceutical spaces. The Company’s Radiant Energy Vacuum (“REV™”) platforms are becoming the new global dehydration standard, as they are faster and cheaper than freeze drying, and have better end product quality than both air drying and spray drying.
Through the first quarter of 2020 EnWave’s sales pipeline remained very strong for the worldwide expansion of REV technology. Six new royalty-bearing license agreements were signed in Q1 2020 through to today. International partnerships were achieved in South America, Australia, Asia and Europe.
The royalty revenue, excluding NutraDried, for Q1 2020 was $402,000 compared to $251,000 for Q1 2019, a healthy increase of $151,000. This is a sign of growing success among EnWave’s royalty licenses and expansion of REV products in the marketplace. This trend of growth will continue as the Company installs more REV machines and signs more royalty-bearing licenses on a global basis.
Taken as a whole, the first quarter results document a remarkably balanced platform to position EnWave for the next phase of growth. The Company achieved numerous important strategic objectives while consolidating the transition launched late last year. The recruitment of talented personnel is adding strength to the sales and marketing team. Investments to expand manufacturing capacity and bolster R&D priorities are also positioning EnWave to increase unit sales.
The incredible growth and successful commercialization for REV technology has been assisted by the strategy to build alliances with leading companies in each sector. Once a respected, high-profile player in any sector has embraced REV technology and established a partnership, it often inspires other companies in that sector to follow suit.
NutraDried Foods is performing extremely well with a plan in place to secure the next phase of growth.
Download the first quarter 2020 EnWave Corp. Company Report.
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