- Technology company, EnWave (ENW) has signed an equipment purchase agreement with a pre-existing royalty partner, Intakt Snacks
- Intakt Snacks has purchased a second Radiant Energy Vacuum (REV) machine from EnWave, doubling its production of dried cheese snacks
- Under a royalty-bearing commercial license from 2015, Intakt Snacks pays EnWave a royalty from revenue generated by REV-dried products
- The additional REV machine will allow Intakt Snacks to expand its distribution to Chinese and Japanese markets in 2021
- EnWave (ENW) remains unchanged and is currently trading at C$0.83 per share
Technology company, EnWave (ENW) has signed an equipment purchase agreement with a pre-existing royalty partner, Intakt Snacks.
Lake Blue SpA, otherwise known as Intakt Snacks, is a Chilean agro-industrial company, which over 60 years of experience in dairy and meat production.
The family-owned business, which operates in the Rivers region of southern Chile, has more recently expanded into fruit production, and exported to markets including China, Korea, Europe, and the US.
In July 2015, Intakt Snacks signed a royalty-bearing commercial license with EnWave, and began producing cheese snacks the following year. The Chilean company currently has one of EnWave’s ten kilowatt Radiant Energy Vacuum (REV) machines, which is used to produce the dried cheese snacks.
Intakt’s crunchy cheese product portfolio includes various types of cheese, infused with natural ingredients. These include chili pepper and coriander, black pepper, oregano, mozzarella-blue cheese, onion, tomato-basil-oregano, blueberry, raspberry, and honey.
The products are currently distributed in Chile and the United States, through domestic retailers including keto snack companies and e-commerce platforms.
Under the royalty agreement, Intakt pays EnWave a royalty equal to five per cent of revenues generated by sales of its REV-dried products. Intakt has now doubled down by purchasing a second REV machine, in order to increase its current production capacity.
The additional REV machine will allow Intakt to expand its product distribution to Chinese and Japanese markets in 2021. The equipment purchase agreement will also see an increase in royalties making their way back to EnWave.
EnWave (ENW) remains unchanged and is trading for C$0.83 per share at 10:45am EDT.