EnWave has entered into an agreement with US-based Hormel Foods to support the production and sale of certain products dehydrated with its Radiant Energy Vacuum (REV) technology.
Under the agreement, EnWave and Hormel Foods have agreed to long-term royalty rates, broader global market rights and use of EnWave's nutraDRIED trademark on the retail packaging of products from Hormel Foods.
In order to support on-going testing, EnWave is leasing Hormel Foods a large pilot-scale nutraREV production unit which is expected to be fully operational in the summer 2013.
On successful tests, Hormel Foods and EnWave have agreed on general commercial equipment designs and plans to place a commercial-scale equipment order by the first half of 2014.
EnWave chairman and co-CEO Tim Durance said that the planned product launch by Hormel Foods represents another important market segment opportunity for REV technology.
"We believe that the marketing and distribution scale of Hormel Foods will enable these new products to have a very good chance for long-term commercial success on a global basis," Durance added.
Hormel Foods Corporate Innovation and New Product Development vice president Scott Aakre said "EnWave's REV technology has allowed Hormel Foods to create a number of unique products that deliver great flavor and retain high nutritional value."
EnWave is a Vancouver-based industrial technology company developing commercial applications for its Radiant Energy Vacuum (REV) dehydration technology. The company is introducing REV as a new dehydration standard in the food and biological material sectors: potentially faster and cheaper than freeze drying, with better end product quality than air drying or spray drying.
