EnWave enters licence deal with Solve Solutions

Executive Summary

• EnWave Corp. entered a royalty‑bearing commercial licence with Brazil’s Solve Solutions Ltda., granting exclusive rights to use EnWave’s patented REV technology for drying fruits, vegetables and cheese in Brazil.
• Solve Solutions purchased a 10 kW REV machine and is required to acquire an additional large‑scale REV system within six months, creating immediate and future revenue streams for EnWave.
• The agreement expands EnWave’s footprint in the Brazilian market and adds a new strategic partner in the premium dried‑fruit and snack segment.

Key Details

• License Scope: Exclusive commercial licence for EnWave’s radiant energy vacuum (REV) technology in Brazil, covering select fruits, vegetables and cheese products.
• Royalty Structure: Solve Solutions will pay royalties “commensurate with certain other existing licences” granted by EnWave; exact rate not disclosed but tied to revenue generated from licensed products.
• Equipment Sale: Immediate sale of a 10‑kilowatt REV machine previously under lease/evaluation; purchase price not disclosed.
• Future Equipment Commitment: Solve Solutions must purchase a large‑scale REV machine within six months of the licence effective date to maintain exclusive rights.
• Strategic Impact: Adds a Brazilian food processor with strong private‑label and export capabilities as an EnWave partner, enhancing market penetration in South America.
• Revenue Outlook: Generates upfront equipment revenue plus ongoing royalty income; expected to be material positive for EnWave’s near‑term financial performance.

Notable Quotes

(No direct quotes were provided in the release.)