FreshXtend announces Technology License with Welch Foods Inc.
To provide FreshXtend's fresh-cut fruit technologies and processes to Welch's to develop a range of retail fruit products starting with the launch of a single serve "grapes on the vine" in a 5-ounce sealed plastic cup.
20/07/05 FreshXtend Technologies Corp. has announced that they have entered into a 10 year renewable world-wide Technology License with Welch Foods Inc. of Concord, Massachusetts to provide FreshXtend's fresh-cut fruit technologies and processes to Welch's to develop a range of retail fruit products starting with the launch of a single serve "grapes on the vine" in a 5-ounce sealed plastic cup. These 5-ounce cups will be marketed containing both red and green varieties with production beginning in mid-July from the Country Fresh plant in Orlando. This initial launch will be rolled out US wide over the next few months and other cup sizes and fruit products will follow the initial product launch.
Country Fresh is an existing technology client of FreshXtend and it was FreshXtend that brought the parties together into a partnership which will play to the strengths of all three parties: namely Welch's marketing, Country Fresh's production and FreshXtend's technology. As a result of this partnership, some of the technology rights formerly held by Country Fresh have been transferred to Welch's and this revised agreement is still subject to completion. Overall this is seen by the parties as a win-win result and an exciting new development of healthy fresh fruit convenience products for the health conscious consumer.
FreshXtend Technologies Corp. is a leading provider of life extension technology to the high growth Fresh Produce and Flower Industry and uses its technological leadership to pursue licensing opportunities. The Company's patented technologies extend shelf life through all natural processes with no artificial additives, preservatives, chemicals, genetic alterations or irradiation. FreshXtend's fruit and vegetable life extension technologies maintain the quality and shelf life of fresh produce, flowers and juices, thereby enabling economic distribution of premium quality vine-ripened fruit and vegetables. The Company has a network of R&D relationships, which include the University of British Columbia and focuses on building features that will appeal to FreshXtend's customers in order to gain a competitive edge in the marketplace. The Company continues to pursue licensing opportunities through grower/processor channels as a way of maximizing the distribution for its technologies.
