Brent Charleton, President and CEO of Enwave Corporation joined Steve Darling from Proactive to announce a new partnership with ELEA Technology, a global leader in pulsed electric field technology. This agreement allows ELEA to use EnWave’s Radiant Energy Vacuum technology in combination with PEF pre-treatment to create healthier potato and vegetable snacks. The goal is to reduce or eliminate frying while maintaining superior taste, texture, and nutrition. As part of the agreement, ELEA will lease a 10kW REV™ machine at its German facility starting in February 2025 for a minimum three-month term.
Charleton emphasized that combining PEF and REV™ technologies offers significant potential to redefine snack production by delivering high-quality products with fewer unhealthy processes.
In addition to this partnership, EnWave shared strong consolidated financial results for the fourth quarter and fiscal year ending September 30, 2024. The company reported a 149% increase in Q4 revenue compared to the same period in 2023. This growth was driven by the resale of a large-scale machine and higher royalties. EnWave also achieved a 243% increase in gross margins, reflecting improved operational efficiency and growing demand for its technology.
EnWave also announced the appointment of Louise Lalonde to its Board of Directors as the new Audit Committee Chair. Lalonde, a Certified Public Accountant with over 30 years of experience in accounting, governance, and compliance, brings expertise from her tenure at Price Waterhouse Coopers and leadership roles in manufacturing and service sectors. Her appointment follows the retirement of current Audit Committee Chair Mary Ritchie, who was recognized for her valuable contributions to the company.
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