Metals Update 19/07/2021

Powerband adds 64 dealerships to Drivrz Financial

Powerband Solutions Inc. has signed a national dealership group comprising 64 dealerships onto Drivrz Financial. This dealership group represents a 14-per-cent increase to 532 active dealerships.

The group is well established in seven western states — Utah, Arizona, Colorado, California, Idaho, New Mexico and Washington — and represents more than 20 different automotive brands.

Drivrz Financial chief executive officer Jon Lamb commented: “This is a clear signal of confidence in Drivrz Financial by one of the United States’ most respected automotive dealership groups. We are delighted they see Drivrz Financial as a burgeoning platform for their dealerships and customers. We continue to target onboarding 1,000 dealers by H1 2022 and aspire to achieve two to three originations per dealership per month as we scale the business.”

Drivrz Financial is focused on consummating commercial agreements with several other large dealer groups and is also advancing discussions with OEMs (original equipment manufacturers) for captive formations to drive originations.

“There are proven leaders in the automotive retail sector and this dealership group has been one of them from the very start,” said Powerband chief executive officer Kelly Jennings. “This represents a major opportunity for Drivrz to further expand its outreach to the western United States.”

EnWave signs licensing deal with Colombia dairy company

EnWave Corp. has signed a commercial license agreement with a leading Colombian dairy company for the production of shelf-stable dairy snacks in Colombia. The Colombian dairy company has also purchased a 10-kilowatt Radiant Energy Vacuum (REV) machine to initiate commercial production of all-natural cheese snacks.

The licence grants the Colombian dairy company the exclusive right to produce crunchy, shelf-stable cheese snacks in Colombia pursuant to meeting certain minimum royalty and machine purchase order requirements. These new products will complement the Colombian dairy company’s broad, existing portfolio of established dairy brands that are currently being sold throughout South America. The Colombian dairy company intends to develop and commercialize nutritious, REV-dried dairy snacks for the Colombian grocery market and has longer-term ambitions to expand distribution into Ecuador and Venezuela, among other South American markets.

The use of REV to create shelf-stable, value-added dairy products has been proven in over a dozen markets globally. This licence marks the inaugural launch of REV dried cheese snacks into the Colombian market and is EnWave’s second royalty-bearing licence agreement granted to produce dried cheese snacks in South America.

EnWave’s scalable and reliable REV technology can be used to produce shelf-stable fruit and vegetable products that are among the best in nutritional value, taste, texture and colour. EnWave has signed 45 royalty-bearing commercial licence agreements with companies that are bringing innovative new products to market using EnWave’s patented dehydration technology.