EnWave Corp. (TSX-V:ENW), the Vancouver-based company that uses microwaves in the processing of foods and pharmaceuticals, has entered a partnership in the U.S. that will make and sell an all-natural cheese snack for the American market.
In partnership with Lucid Capital Management Ltd., EnWave has created EnWave USA Corp. and NutraDried LLP, EnWave announced yesterday.
Under the partnership, EnWave and Lucid will commit up to $2 million to build a new market for cheese snack products for the U.S. market using EnWave proprietary microwave dehydration process.
It is just the latest move for EnWave, as it expands its market reach. In October, EnWave announced it would acquire an 86.5% controlling interest in Hans Binder Maschinenbau GmbH, a German manufacturer that makes dehydration equipment, for $2.6 million.
Beginning in April, NutraDried LLP is expected to go into production using one of EnWave's smaller scale nutraREV dehydration machines. It plans to ramp up production with the construction of a larger-scale system later in 2013.
NutraDried LLP also has the option to extend its licence agreement to include Belgium and the Netherlands.
Lucid already has retail distribution relationships in the U.S. and European markets and access to existing manufacturing facilities in the Netherlands, where the second plant would be established.
