EnWave sells two REV machines to Dairy Concepts

Executive Summary

• EnWave Corp. has sold two additional 10-kilowatt Radiant Energy Vacuum (REV) dehydration machines to Dairy Concepts Ireland (DCI).
• This transaction marks the fifth and sixth units acquired by DCI, expanding their production capacity for dairy snacks in Europe.
• DCI holds an exclusive license to use EnWave's proprietary drying technology for specific dairy snacks in the United Kingdom, with recent success in major retail channels like Marks and Spencer.

Key Details

• Transaction: Sale of two 10-kilowatt Radiant Energy Vacuum (REV) dehydration machines.
• Buyer: Dairy Concepts Ireland (DCI), an Ireland-based dairy snack innovator.
• Cumulative Sales: This is the fifth and sixth REV unit acquired by DCI.
• Licensing: DCI holds an exclusive license to use EnWave's proprietary drying technology to produce certain dairy snacks in the United Kingdom.
• Product Context: DCI produces "CheeseOs" (mild cheddar snacks with flavors like salt and vinegar, cheese and onion) and the premium "Moorepark" range (specialty cheeses like chilli cheddar, black pepper cheddar).
• Market Performance: DCI's crunchy cheese snacks have performed extremely well at Marks and Spencer, leading to additional distribution opportunities.
• Technology Benefits: EnWave's REV technology allows for production up to seven times faster than freeze drying, rack drying, and air drying, while improving taste, texture, color, and nutritional value.
• Company Strategy: EnWave focuses on signing royalty-bearing commercial licenses with food producers to replace traditional drying methods.

Notable Quotes

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