EnWave Signs Royalty-Bearing Commercial License with Solve Solutions Ltda of Brazil and Sells 10kW REV Machinery

Executive Summary

• EnWave Corporation entered into a royalty‑bearing commercial license agreement 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 will purchase a large‑scale 10 kW REV™ machine within six months and commence royalty payments based on existing EnWave licensing benchmarks.
• The agreement expands EnWave’s footprint into the Brazilian dried‑ingredient market and creates an additional revenue stream through royalties and equipment sales.

Key Details

• Parties: EnWave Corporation (TSX‑V: ENW) and Solve Solutions Ltda (“Solve Solutions”), a Brazilian food ingredient manufacturer under Troyes Participações SA.
• Technology: Exclusive license to EnWave’s Radiant Energy Vacuum (REV™) technology for drying select fruits, vegetables, and cheese products in Brazil.
• Equipment Purchase: Solve Solutions must acquire a large‑scale 10 kW REV™ machine within six months of the agreement’s effective date.
• Royalty Structure: Royalties will be “commensurate with certain other existing licenses granted by EnWave” (i.e., based on established royalty rates for similar agreements).
• Scope: Exclusive rights limited to Brazil; includes ongoing collaboration for product development and optimization.
• Strategic Impact: Strengthens EnWave’s presence in South America, diversifies its licensing portfolio, and leverages growing demand for premium dried food ingredients.

Notable Quotes

• “Our strategy is to sign royalty‑bearing commercial licenses with food producers who want to dry better, faster and more economically,” – Brent Charleton, President & CEO, EnWave Corporation.