Blackhawk Growth Corp C.BLR

EnWave Completes 10kW REV™ Machine Sale to NuWave Foods

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VANCOUVER, British Columbia, April 20, 2021 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”) announced today that it has completed the sale of a 10kW Radiant Energy Vacuum (“REV™”) machine to NuWave Foods, Inc. (“NuWave”), a Canadian company focused on launching new and innovative shelf-stable bakery products. NuWave entered into a royalty-bearing license agreement with EnWave to use REV™ technology for a lineup of shelf-stable bakery products in November 2020 (the “License”). NuWave must purchase a 60kW or greater rated power REV™ machine to retain the exclusivity for its lineup of shelf-stable bakery products granted under the License.

NuWave is commercializing a lineup of bakery products with elongated shelf lives, including donuts, fritters, and cheesecake products, and is actively pursuing distribution into the Canadian retail grocery market. This bakery advancement reduces retail spoilage and minimizes the risk of products expiring on store shelves without being sold. If material distribution is secured, NuWave will require large-scale REV™ machinery to meet demand from its customers.

Additionally, NuWave is leveraging EnWave’s patented dehydration technology to manufacture a line of cannabis-infused bakery products for its sister company, Spaced Food Inc., at its commercial bakery facility in Edmonton, Alberta. Spaced Food recently announced distribution for its products in British Columbia and Ontario, with distribution also targeted for Saskatchewan and Alberta. Under the terms of the License, NuWave will pay a royalty to EnWave on all products manufactured using REV™ technology.

EnWave’s scalable and reliable Radiant Energy Vacuum technology can be used to significantly extend the shelf-life of baked goods while maintaining textures and flavors that are comparable to freshly baked products. This presents a major opportunity to reduce loss from expired goods by elongating shelf-life and improving profitability for consumer baked goods companies. EnWave believes that REV™ technology will provide significant value to the baked goods industry as the REV™ drying process slows the retrogradation or recrystallization of starch molecules, which contributes to the ‘staling’ process.

About NuWave Foods

NuWave Foods is a 51% owned subsidiary of Blackhawk Growth Corp. (CSE:BLR). NuWave is a fully licensed commercial kitchen and baked goods manufacturer located in Edmonton, Alberta that is focused on the development and commercialization of shelf-stable baked products, without the use of any preservatives. NuWave was formed as a joint partnership between a group of like-minded professionals seeking to leverage their considerable contacts in North America’s food industry to rapidly become a leader in the rapidly changing space. NuWave seeks to leverage innovative food technologies to introduce new food products into the North American market.

About EnWave 

EnWave Corporation, a Vancouver-based advanced technology company, has developed a Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to high-quality, marketable cannabis products.

REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors, including legal cannabis. EnWave’s strategy is to sign royalty-bearing commercial licenses with innovative, disruptive companies in multiple verticals for the use of REV™ technology. It has signed over forty royalty-bearing licenses to date in twenty countries worldwide. In addition to these licenses, EnWave established a Limited Liability Corporation, NutraDried Food Company, LLC, to manufacture, market, and sell all-natural dairy snack products in the United States, including the Moon Cheese^® brand.

EnWave has introduced REV™ as a disruptive dehydration platform in the food and cannabis sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently offers two distinct commercial REV™ platforms:

1. nutraREV^® which is a drum-based system that dehydrates organic materials quickly and at low cost, while maintaining high levels of nutrition, taste, texture, and colour; and,
2. quantaREV^® which is a tray-based system used for continuous, high-volume low-temperature drying.

More information about EnWave is available at www.enwave.net.

EnWave Corporation
Mr. Brent Charleton, CFA
President and CEO

For further information:

Brent Charleton, CFA, President and CEO at [phone]
E-mail: [e-mail]

Dan Henriques, CPA, CA, CFO at [phone]
E-mail: [e-mail]

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