HeatGenie and EnCanSol sign deal
HeatGenie is a self-heating component that integrates into the bottom of packaging and, with the simple push of a button, heats a 10oz portion of coffee, hot chocolate or soup to 145° Fahrenheit in two minutes.
The memorandum of understanding signifies an important phase of development for the company. To date, HeatGenie has sold small quantities of heated packages to the US Army and built the heaters at its Texas laboratory. The company is hoping to start full-scale production in 2013.
“HeatGenie technology is in active evaluation by a number of multi-national food and beverage companies and we have a letter of intent from a regional brand to purchase the first several million units. However, HeatGenie is in the technology development and licensing business, not manufacturing,” says Rosemary Whaling, vice president business development. “EnCanSol is experienced in producing portable energy products in a cost effective manner and, once capital is in place, has the capacity to begin production in 2013.”
Wayne Hartford, chief executive officer of EnCanSol, added: “The HeatGenie product is an exciting new technology that fits seamlessly into our capabilities as a manufacturer of portable energy storage devices. We see the potential for HeatGenie to significantly increase our capacity utilisation and help fuel our future growth.”
HeatGenie also has a development agreement with can maker Crown Holdings and will work with them to bring this technology to consumers starting in 2013.