Core Insights - EnWave Corporation has signed a royalty-bearing commercial license with Bowen Gumlu Grower's Association (BGGA) to utilize its Radiant Energy Vacuum (REV™) dehydration technology for developing tropical fruit snacks and ingredients [1][2] Group 1: Company Overview - EnWave is a leader in vacuum microwave dehydration technology, with a strong intellectual property portfolio and a proven drying solution that outperforms traditional methods [7] - The company has over fifty-one partners across twenty-four countries, enabling the creation of innovative snacks and ingredients [8] Group 2: Partnership Details - BGGA has acquired a 10kW REV™ machine to initiate commercial product development and early-stage manufacturing of REV™-dried products, with commissioning expected before April 2026 [2] - EnWave's technical and food science teams will collaborate with BGGA to ensure high product quality and process optimization for the launch of commercial products [2] Group 3: Industry Context - BGGA represents horticultural growers and agribusinesses in North Queensland, which is the largest producer of winter vegetable crops in Queensland, generating approximately $650 million AUD annually [5] - The region employs around 1,500 workers year-round, with an additional 2,000 during the harvest season, indicating the sector's significant impact on local employment [5]

Financial Performance - Scales Corporation's Underlying EBITDA for 1H25 increased by 43% to $86.7 million, compared to $60.5 million in 1H24[14] - Underlying NPAT for 1H25 rose by 48% to $56.9 million, up from $38.4 million in 1H24[14] - Underlying NPATAS increased significantly by 72% to $48.9 million, compared to $28.5 million in 1H24[14] - The company anticipates Underlying NPATAS to be between $45.0 million and $50.0 million for FY25[14, 67] Divisional Results - Horticulture division experienced exceptional growth, with Underlying EBITDA increasing by 77.4% to $53.2 million in 1H25, compared to $30.0 million in 1H24[14, 23] - Logistics division also showed excellent results, with Underlying EBITDA up by 59.9% to $6.1 million in 1H25, compared to $3.8 million in 1H24[14, 23, 56] - Global Proteins division maintained a steady performance, with Underlying EBITDA at $29.7 million in 1H25, a slight increase of 0.5% from $29.6 million in 1H24[14, 23, 37] Balance Sheet - Net debt decreased to $67.5 million as of June 30, 2025, compared to $81.9 million as of June 30, 2024[25] - Approximately 55% of the Horticulture crop had been sold as of June 30, 2025, compared to 54% as of June 30, 2024[30] - Premium volumes accounted for approximately 75% of total export sale volumes, compared to 72% in 2024[52]

Horticultural Innovation & Development - The speaker dedicated the last 40 years to horticulture, aiming to inspire the younger generation [1] - The speaker aimed to increase farmer income by 10 to 20 times through innovative farming practices [1] - The speaker initiated cross-breeding to adapt fruit crops to different climates, collaborating with Dr Hari Ram [1] - Developed 70 strain lines to identify characteristics suitable for sub-tropical climates, achieving initial success [1] - Introduced dwarf papaya through breeding, gaining recognition and initiating commercial papaya farming in Northern India [1] - The speaker observed robotic and automated farming in the Netherlands, including artificial climate and media cultivation [1] - Established a plant with 200 poly houses in 1993, promoting green house revolution in Kumaon [1] - Learnt flower bulbs forcing technology, initiating bulb production in India and converting valleys into flower valleys [2] - Introduced high-density apple plantation system after observing tomato cultivation below sea level in Netherlands, increasing apple production [2] - Promoted cluster programming in horticulture, inspired by the concept of developing fruit pockets in specific villages [2][3]