Another Australian DealEnWave Signs Commercial Royalty-Bearing License with KL Ballantyne Pty Ltd and Receives Purchase Order for REV™ Machinery VANCOUVER, British Columbia, Jan. 08, 2020 (GLOBE NEWSWIRE) --
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave,” or the "Company”) today announced signing a royalty-bearing commercial license (the “License”) with KL Ballantyne Pty Ltd (“Ballantyne”), a leading Australian dairy company. The License grants Ballantyne the exclusive right to produce dairy products in Australia using the Company’s patented Radiant Energy Vacuum (“REV™”) technology, excluding direct-to-consumer cheese snack products.
This License is the third royalty-bearing license signed with an Australian company, the fifteenth such license signed for dairy product processing worldwide and further proves the value proposition of REV™ technology as a tool to create innovative, premium food applications in the dairy industry.
In addition to the License, Ballantyne signed an equipment purchase agreement to acquire a 10kW REV™ machine to initiate commercial production. Ballantyne has agreed to pay an undisclosed royalty tied to the commercial success of REV™-dried products that they commercialize.
Pursuant to the License, Ballantyne has additional, undisclosed REV™ machine purchase order requirements that must be met in order to maintain their exclusivity in the future.
About KL Ballantyne Pty Ltd Ballantyne is a family-owned company with a tradition of unstinting customer service and rigorous quality control. This is backed by a willingness to invest in innovative manufacturing and packaging technology. Ballantyne brings a special quality to its relationship with its customers - a quality which inspires confidence and transcends the boundaries of language, nationality, and culture.
For more information about Ballantyne, please visit
www.ballantyne.com.au.