EnWave Corporation (TSX-V: ENW | FSE: E4U) (“EnWave”), announced that Dairy Concepts IRL (“DCI”), an emerging leader in innovative dairy snacks has signed an Equipment Purchase Agreement (the “Agreement”) to acquire its third 10kW Radiant Energy Vacuum (“REV™”) dehydration machine for commercial use at Moorepark Technology Limited’s (“MTL”) facility in Cork, Ireland.
DCI signed a royalty-bearing commercial license agreement (the “License”) with EnWave in September 2020, granting it processing rights for a portfolio of natural, sweet and savory, shelf-stable, hand-held dairy snacks. To facilitate initial REV™ processing, DCI forged a commercial relationship with MTL, a leading provider of commercial pilot plant and research services for customers in the food industry. DCI and MTL have collaborated to combine leading technology with food innovation strategy to launch new and exciting dairy-based products to the market in Europe.
MTL previously purchased a 10kW REV™ machine from EnWave in September 2019, and this machine has been used commercially by DCI since September 2020. In March 2021, EnWave sold a second 10kW REV unit to DCI to expand its manufacturing capacity at MTL, and the addition of a third 10kW REV™ machine will continue to increase production capacity at the MTL facility.
As DCI continues to expand its market presence with the production of dried cheese and cheese-like snacks in Ireland and the United Kingdom. They will look to further expand REV™ capacity with additional investments.