EnWave Corporation announced that it has signed an Equipment Purchase Agreement with BranchOut Foods Inc. BranchOut has been a licensed royalty partner of EnWave?s for several years and currently operates 10kW and 60kW Radiant Energy Vacuum (?REV??) dehydration machinery, the Company?s proprietary technology, to produce a portfolio of fruit and vegetable products. The Agreement provides for the acquisition of a 120kW REV? machine, which is anticipated to be delivered to BranchOut in late calendar 2024 pursuant to build-out plans.

BranchOut has paid an initial non-refundable deposit and is obligated to make several additional non-refundable payments through fiscal 2024. Subject to this REV? machinery purchase, BranchOut and EnWave have agreed to certain additional exclusive production rights to further protect the commercial efforts of BranchOut.