EnWave Signs License Agreement Amendment With BranchOut Food Inc.

VANCOUVER — EnWave Corporation announced that it has signed an amendment to the royalty-bearing license agreement entered into with BranchOut Foods Inc. of Peru. The Amendment grants BranchOut the exclusive right to produce dried blueberry products using EnWave’s Radiant Energy Vacuum (REV™) dehydration technology in Peru. Pursuant to the Amendment, BranchOut will pay a minimum of US$50,000 in annual royalties relating to the sales of blueberry products beginning in 2025. BranchOut is also contracted to pay additional minimum exclusivity royalties to EnWave in 2025 for the other existing rights granted in the License Agreement.

BranchOut operates three large-scale REV™ machines, two of which were commissioned last quarter, producing a broad portfolio of dried fruits and vegetables. They have successfully launched several direct-to-consumer snack products including dried Brussel sprouts, bell peppers, bananas, avocados and pineapple chips. BranchOut also offers third-party manufacturing services for existing consumer brands.