EnWave announced that it has signed a Technology Evaluation and License Option Agreement (the TELOA) with a major European food processor (the Research Partner).
The agreement has been signed to explore the potential for dried meat products processed by its patented Radiant Energy Vacuum (REV) dehydration technology.
The Research Partner will have the exclusive option to license the use of REV technology for the production of meat products within an agreed European territory.
The Research Partner entered the TELOA after a thorough review of EnWave's technology. The Research Partner will conduct product-focused application trials at EnWave's pilot plant facilities in February 2017.
This research effort will enable the Research Partner to build a solid knowledge base prior to potentially renting a pilot-scale REV machine for further development at their facilities in Europe.
EnWave has entered into TELOA agreements with several leading meat processing companies in the United States, Canada, Australia, New Zealand and Europe.
The Company has signed two commercial royalty-bearing licenses with meat processing companies and continues to vigorously pursue additional commercial royalty-bearing licensing agreements in a number of other verticals.
