EnWave To Sell Food Dehydration Technology In South And Central America
Published:12-November-2009
By Staff Reporter
Signs letter of intent with North American consortium for the sales of machines over the next four years
EnWave has signed a letter of intent (LOI) with a North American consortium for the purpose of selling up to four commercial-scale nutraREV food dehydration machines over the next four years.
The company said that these machines will be used for the production of dried fruit and vegetable products grown in South and Central America. SmartPac of California, and Innovative Food Systems of Princeton, British Columbia, intend to establish the first nutraREV plant in Central America where they expect to produce nutraDried banana chips, tropical fruit, and vegetables products for international export.
The LOI extends until May 31, 2010, and is subject to the completion of a market assessment by the consortium, delivery of consortium financing, and the negotiation of final license terms between the parties.
In addition to the terms of the commercial equipment sale, provisions in the LOI reportedly include a royalty of up to 10% on gross sales derived from products produced using nutraREV technology. The equipment license would also include opportunities to expand into the production of other nutraDried fruit and vegetable products grown in the licensed regions.
John McNicol, president & co-CEO of EnWave, said: "Establishing a leading-edge dehydration facility where many of the world's fresh fruits and vegetables are grown bodes well for the success of this project. SmartPac and IFS are creating an ideal dehydration plant and distribution centre for shipping nutraDried products globally."
