ENW EnWave Corporation

EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company") announced today that it has signed a research and development license (the “RDLA”) and lease agreement (the “Lease”) with ELEA Technology GmbH (“ELEA”), the world’s leading pulse electric field (“PEF”) technology company.

The RDLA grants ELEA certain rights to use EnWave’s Radiant Energy Vacuum (“REV™”) technology in combination with its PEF technology to develop best-in-class potato and vegetable snacks, with the intent to reduce or eliminate frying by pre-treating products with PEF before REV™-drying. ELEA will lease a 10kW REV™ machine for use at its German facility beginning in February 2025 for a minimum three-month term.

ELEA has placed its PEF technology at many of the largest potato manufacturers in the world. If the work completed through the RDLA yields positive results, EnWave anticipates quick commercialization of new, better potato and vegetable snack applications through ELEA’s existing relationships.

About ELEA Technology GmbHElea is the world’s leading provider of Pulsed Electric Field Systems (PEF) to the food, beverage & scientific sectors. Eleaporation, developed over many years, is rapidly transforming food and beverage manufacturing around the world.

PEF changes the physical structure of fresh produce resulting in significant increases in yield, freshness, flavour and nutritional preservation – plus savings in time and energy.

Elea’s staff work closely with clients to provide tailor-made solutions through a process that involves initial briefing & research, developing, building and testing of our new design and finally installation and on-going maintenance of our approved PEF systems.

This close collaboration often yields exciting new opportunities, inventions and technical advances which means our learning and development is continually progressing increasing our industry-leading knowledge of PEF.

For more information on Elea, please visit https://elea-technology.com/.

About EnWave EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV™) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.

With more than fifty royalty-generating partners spanning twenty-three countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net.

EnWave Corporation

Mr. Brent Charleton, CFAPresident and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616E-mail: bcharleton@enwave.net

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729E-mail: dmurray@enwave.net

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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