MDWerks Announces New Limited Exclusivity Contract for Deployment of its Proprietary Spirits Rapid Aging Systems Outside of the United States [Yahoo! Finance]
MDWERKS INC (MDWK)
Company Research
Source: Yahoo! Finance
leading the charge in the world of sustainable technology, today announced that its subsidiary, Two Trees Beverage Company (“Two Trees”), has signed a new contract with an international spirits investment fund (the “Fund”) providing the Fund with limited exclusivity for the deployment of the Company's proprietary Spirits Rapid Aging Systems (“SRAS”) in three countries outside of the United States. To retain exclusivity, the Fund is required to deploy at least one SRAS unit annually in each of the three countries. The estimated production capacity of each SRAS unit is up to 7,000 gallons of product over a 24-hour period. Per the contract, the Company's subsidiary, RFS Specialties, LLC (“RFS”), will build the SRAS units and provide ongoing machine servicing and maintenance for ancillary fees. The Company will receive recurring royalty payments from the Fund based on throughput for any deployed SRAS units, which leverage the Company's patented energy wave technology. Steven Laker, Ch
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