Proposed RF-REX Co venture is intended to accelerate commercialization of radio frequency-based solutions for the lumber and wood-products industry.
GREEN COVE SPRINGS, Fla., Aug. 03, 2026 (GLOBE NEWSWIRE) -- MDWerks, Inc. ("MDWerks" or the "Company") today announced that that as a result of its recently deployed sawdust drying pilot system its subsidiary, RF Specialties, has signed a non-binding Letter of Intent with Rex Lumber Company to form a proposed joint venture focused on the development, deployment, and commercialization of radio frequency-based solutions for the lumber and broader wood-products industry.
The proposed joint venture would focus on utilizing their extensive IP portfolio and trade secrets for radio frequency technology applications including molecular sawdust drying, molecular wood-chip drying, board straightening, extraction systems for compounds such as turpentine and furfural, and future product development for the lumber industry.
Under the LOI, RF Specialties is expected to hold a 51% ownership interest in the joint venture and Rex Lumber is expected to hold a 49% ownership interest, with governance and other key terms to be finalized in definitive agreements.
RF Specialties is expected to contribute relevant radio frequency intellectual property, an exclusive license for lumber and wood-product applications, engineering and technical leadership, procurement and manufacturing oversight, and facility support from its Mills River, North Carolina location.
Rex Lumber is expected to contribute sales leadership, distribution and market deployment capabilities, strategic commercial support, and a substantial multi-million-dollar initial capital investment to support design, manufacturing, engineering expansion, technician hiring, and commercialization efforts.
"This LOI represents an important step in advancing MDWerks' strategy to expand the commercial reach of RF Specialties' radio frequency technologies into the lumber and wood-products market. By aligning our technology platform with Rex Lumber's industry knowledge, commercial relationships, and capital commitment, we believe this proposed joint venture can accelerate deployment and create meaningful long-term value," said Steven Laker, CEO of MDWerks, Inc
The LOI also provides that Rex Lumber may designate an individual to serve on the MDWerks Board of Directors to represent RF-REX Co and the Company's lumber industry strategy, subject to applicable corporate approvals and governing documents.
The proposed joint venture is expected to pursue revenue opportunities from system sales, deployments, royalties, services, and broader commercial adoption across the lumber market.
The LOI is non-binding and is intended solely as a framework for the negotiation of definitive agreements. Any final transaction will remain subject to the execution of such agreements, applicable approvals, and customary closing conditions.
About MDWerks, Inc.
MDWerks, Inc. (OTCQB: MDWK) is a molecular targeting technology company developing proprietary energy-wave platforms that selectively influence target molecules to improve industrial processes. Supported by a broad patent estate, the Company's technologies enhance extraction, molecular transfer, moisture control, product quality, processing efficiency, and sustainability across multiple industries.
Initially commercialized within beverage alcohol and wood products, MDWerks is expanding its platform into additional markets including industrial processing, water treatment (including desalination), chemical manufacturing, agriculture, pharmaceuticals, engineered materials, and advanced manufacturing. Through a scalable licensing model built around its proprietary intellectual property, MDWerks is transforming breakthrough science into recurring revenue opportunities across multiple global industries.
MDWerks' wholly owned subsidiary, RF Specialties, LLC ("RFS"), addresses companies' most pressing challenges by implementing automated radio frequency technology systems in a sustainable way reducing costs and increasing speed to market when compared to traditional methods. For more information, please visit https://www.rfspecialtiesus.com/.
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