Meat Snack Producers Are Becoming Another Pillar Of EnWave’s Success
Jack Link’s, the number one meat snack manufacturer worldwide, continues to evaluate products that include EnWave Corp (TSXV:ENW – $0.80 CAD & OTC:NWVCF – $0.63 USD) Radiant Energy Vacuum (REV) dried ingredients.
Therefore, the original technology evaluation and license option agreement between EnWave and Jack Link’s, which dates back to August 2014, was extended into 2016. That should give the Minong, Wisconsin leader in the meat snack category enough time to evaluate the commercial viability of its new products.
For two reasons we assume that Jack Link’s has already made very good progress with the development of one or more products. First, the meat snack company pays a monthly rent for a small test dryer. If it saw no potential in REV dried products, it would have returned the test unit to EnWave and moved on. And second, if EnWave noticed little progress between August 2014 and now, it also would have moved on.
Meat, next to dairy, fruits and vegetables, is clearly becoming another pillar of EnWave’s success. The Company currently has four major meat and protein processors engaged in technology evaluation relationships and one multi-billion dollar revenue company that has signed a royalty-bearing commercial license to produce dried meat snack products in the United States of America.
In addition to Jack Link’s, EnWave has signed a technology evaluation agreement with the following companies.
- Maple Leaf Foods Inc, a major Canadian food processing company that employs approximately 12,000 people and exports to more than 20 global markets including the US and Asia. The agreement, which was signed in August 2015, grants Maple Leaf the right to evaluate EnWave’s REV technology for the potential production of a variety of food applications.
- Campofrio Food Group, Europe’s leader in the processed meats sector is conducting product development work using the REV dehydration technology. The company intends to create a number of new, healthy dried meat products for potential commercialization.
- Perdue Farms Inc, a leading food and agricultural products company, is also evaluating EnWave’s technology. If the results are positive, Perdue has the option to license the use of REV, on an exclusive basis, in the U.S. for a variety of food applications.
And EnWave has a royalty-bearing commercial license in place with the next company.
- Hormel Foods Corporation, the $15 billion dollar company known for its numerous meat and food products, has recently launched Spam Snacks, dried, bite-sized flavored pieces of the iconic canned meat. The snacks are available at Wal-Mart on the West coast, the Southeast, and Hawaii. Although the new product has only been on the market for a few weeks, it already received numerous favorable reviews (see video below).
All these agreements are both a recognition and validation of EnWave’s REV technology. Moreover, having agreements with several companies in the same sector, urges them to finish their R&D work and sign a commercial license.
After all, a company that enters into a commercial agreement with EnWave can get an exclusive license to use REV for a certain product or market territory, so it’s vital for them to move forward with their decision.
EnWave also has previously signed R&D agreements with Nestlé, Kellogg’s, R.J. Reynolds, Merck Pharma, and many others.
The extended agreement grants Jack Link’s the right to evaluate EnWave’s technology for the potential production of a variety of innovative snack products.
Jack Link’s, which offers more than 100 premium meat snack products at retail outlets in more than 40 countries, is obviously another major potential customer for EnWave. Because it opted to continue the evaluation process of REV technology, we believe there’s a valid possibility that the two companies sign a commercial license agreement somewhere in 2016.
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