Persistence Pays Off With Successful Launch of New Product Line for EnWave Licensee
This week EnWave Corporation (TSXV:ENW – $1.40 CAD & OTC:NWVCF – $1.10 USD & Frankfurt:E4U – €0.85) had an exciting announcement regarding a processing breakthrough to create an entirely new snack food based on yogurt. Agropur Dairy Co-operative d.b.a. Ultima Foods, one of EnWave’s royalty partners, has been engaged in a development process using Radiant Energy Vacuum (REV) technology. An intensive test regime evaluated options to produce a healthy snack food derived from yogurt that retains the flavor and health benefits, and yet has a crunchy texture.
After almost three years, Agropur has arrived at a satisfactory outcome with an innovative product that is ready for launch in the competitive snack foods market. This is a ground-breaking product that has never before been available and there is nothing else like it on the market today. The iögo Protein Crunchy Bites will be available in stores this spring.
While Agropur is well-known and highly respected as a producer of dairy products including yogurt and healthy beverages based on yogurt, the decision to expand its product line to include a yogurt-based snack food was a priority. This line of yogurt protein snacks is complimentary to the main product range.
Solid Healthy Snacks Produced From Nutritious Yogurt
The challenge of developing a suitable processing option to transform yogurt into a snack product was made possible due to the unique advantages offered by EnWave’s REV technology. Starting from a liquid yogurt blend, the dehydration process produces a flavorful light snack that is solid, with a texture like puffed cereal. The snacks will be sold in small packages using pillow-pack vending. At this moment only an image of an ad is available.
The new yogurt snacks will be marketed under the iögo brand, which is already established in grocery and convenience store chains across Canada. Agropur has not yet disclosed specific outlets which will be the first to carry the new product line except that the initial launch will be limited to Alberta and Quebec.
Agropur was originally awarded its royalty licensing agreement in 2017, after roughly two years of testing and evaluating of the REV process, with the assistance of EnWave.
The commercial launch of the iögo Protein Crunch products will generate a royalty stream to EnWave. In addition, Agropur must purchase another REV machine as part of this deal to retain exclusivity, before the end of 2018.
This represents the first time a new snack product has been created from dehydrated yogurt, and based on processing using REV machines. Once again this successful outcome demonstrates the power of REV technology to transform existing processing options and enable the creation of new and improved products. Agropur holds exclusivity for this purpose within Canada, but if the pending launch is successful, it will be noticed by other processing companies worldwide and perhaps generate enquiries for license agreements in other markets.
The successful development of this product was made possible thanks to the collaboration of EnWave with its client partner as they advanced through a long testing process before achieving a successful outcome. The relationship with Agropur began nearly three years ago, in May 2015. With the commercial rollout scheduled shortly for this new snack product, EnWave has demonstrated yet again that it is able to win the confidence of a major corporation, participate in the development of new product lines, and close the sale of REV machines that also generate recurring royalty streams from product sales thereafter.
The versatility of REV processing to create value-added solutions for corporate clients continues to build positive results in a widely diversified range of industries. This success is now being realized through increased revenue generation as royalty payments accrue. Recommendation: BUY
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