EnWave Signs License with Hormel for REV Technology
Vancouver, Canada-based EnWave Corp., signed a royalty-bearing commercial license with Hormel Foods Corp., Austin, Minn., to enable the production and sale of specific products dehydrated with the company's Radiant Energy Vacuum (REV) technology.
Enwave uses microwaves to draw the water out of food products without damaging them, promising dramatic time and cost savings over traditional freeze-drying. Under the license, EnWave and Hormel Foods agreed to long-term royalty rates, broader global market rights and the use of EnWave's nutraDRIED trademark on the retail packaging of Hormel Foods products. Other terms of the license remain confidential.