EnWave Receives Second Progress Payment for Equipment Purchase Agreement with Procescir S.A. de C.V. of Mexico for 120kW Radiant Energy Vacuum Machinery; Scheduled Commissioning in Next Three Months

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[{"type":"text","content":"EnWave Receives Second Progress Payment for Equipment Purchase Agreement with Procescir S.A. de C.V. of Mexico for 120kW Radiant Energy Vacuum Machinery; Scheduled Commissioning in Next Three Months\n\n\n\n VANCOUVER, British Columbia, April 29, 2025 (GLOBE NEWSWIRE) --\n \n EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the \"Company\")\n \n announced today that it has received the second progress payment (the “Payment”) pursuant to a previously announced Equipment Purchase Agreement (the “Agreement”) signed with Procescir S.A. de C.V. (“Procescir”), for a 120kW Radiant Energy Vacuum (“REV™”) machine for the commercial production of several fruit and vegetable products in Mexico. Procescir, is a leading Mexican agriculture company that is vertically integrated.\n \n\n Procescir will produce private-label and branded snack products, as well as offer toll drying services for established and emerging snack and ingredient brands. Concurrent with the Payment, Procescir secured a two-year toll drying agreement (the “Tolling Agreement”) with a leading American healthy snack company. EnWave expects that majority of Procescir’s 120kW REV™ manufacturing capacity will be allocated to the Tolling Agreement, improving the Company’s royalty portfolio.\n \n\n In anticipation of this Payment and the Company’s sales pipeline, EnWave began manufacturing a 120kW REV™ machine in late 2024, allowing for the delivery of Procescir’s 120kW REV™ machine in July 2025. Concurrent with this Payment, EnWave will immediately begin building an additional large-scale REV™ machine to fulfill prospective future sales.\n \n\n\n About Procescir S.A. de C.V.\n \n\n Procescir is a vertically integrated agro-industrial company, with farming operations in Northwest Mexico since 1960. They began commercializing frozen vegetables in 2022, when they started production at their newest processing plant in Hermosillo, Sonora. Procescir’s processes comply with the highest standards in Quality and Food Safety, delivering the best products to their customers.\n \n\n For more information about Procescir, please visit\n \n www.procescir.com\n \n .\n \n\n\n About EnWave\n \n\n EnWave is a global leader in the innovation...

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