EnWave Corp.

EnWave Announces Agreement with Bonduelle to Improve REV™ Production Capacity and to Further Enhance the Flavor for InFlavor Vegetables

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Vancouver, B.C., December 29th, 2016 - EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company” - http://www.commodity-tv.net/c/mid,5429,News/?v=297218) today announced that it has been contracted by Bonduelle, a leading global processor of frozen vegetable products and a current licensee of the Company’s Radiant Energy Vacuum (“REV™”) technology, to increase the productivity of Bonduelle’s 120kW REV™ Machinery.  This enhancement will incorporate a continuous belt system and approximately double the production capacity.  Bonduelle will submit a significant payment to EnWave as compensation for the completion this improvement.

This machinery improvement will allow Bonduelle to commit to larger purchase orders from its customers, as well as enable the enhancement of the already high quality InFlavor premium frozen vegetable brand.  Additionally, the incorporation of a continuous belt system will allow Bonduelle to gain valuable insights prior to potentially committing to purchase a larger 400kW REV™ machine in 2017.

Bonduelle was able to create the InFlavor process by harnessing the unique processing capabilities of REV™ technology. The new InFlavor process produces frozen vegetables to a much higher standard, including superior texture, enhanced concentration of flavor and improved nutritional value. On September 14, 2016, Bonduelle issued a news release entitled “Bonduelle combines technology and flavor to create a new line of vegetables”, which highlights their future plans for the InFlavor brand.  The release in its entirety can be read via the following link: http://inflavor.bonduelleamericas.com/imports/medias/pdf/bonduelle-communique-history.pdf.

About Bonduelle

Bonduelle is a family company founded in 1853 with the mission "to be the world leader in healthy living through vegetables". Committed to innovation and with a long-term vision, the group is diversifying its operations and geographical reach. Its vegetables are grown on 128,000 hectares and marketed in 100 countries under a variety of brands, through different distribution channels and in all technologies. 

With its unique agro-industrial expertise and 57 industrial or agricultural production sites, Bonduelle operates in the best farming areas in close proximity to its customers. For Bonduelle, it is a point of honour to bring its vegetables to market using every available technology to give its customers a full range of consumer choices.

For several years now, Bonduelle has achieved sustained and steady growth, divided between internal growth and acquisitions, and has reached a total revenue of close to two billion euros for the last financial year.

For more information about Bonduelle please visit www.bonduelle.com/en.

About EnWave

EnWave Corporation, a Vancouver-based advanced technology company, has developed Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food and pharmaceutical sectors. EnWave’s strategy is to sign royalty-bearing commercial licenses with industry leaders in multiple verticals for the use of REV™ technology. The company has signed seventeen royalty-bearing licenses to date, opening up eight distinct market sectors for commercialization of new and innovative products. In addition to these licenses, EnWave has formed a Limited Liability Partnership, NutraDried LLP, to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese® brand.

EnWave has introduced REV™ as the new dehydration standard in the food and biological material sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:

1.    nutraREV® which is used in the food industry to dry food products quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour;

2.    powderREV® which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point, and 

3.    quantaREV® which is used for continuous, high-volume low-temperature drying.

An additional platform, freezeREV®, is being developed as a new method to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.

EnWave Corporation

Dr. Tim Durance

President & CEO

For further information:

John Budreski, Executive Chairman, EnWave Corporation at +1 (416) 930-0914
E-mail: jbudreski@enwave.net

Brent Charleton, Senior Vice President, Business Development at +1 (778) 378-9616
E-mail: bcharleton@enwave.net  

 

Jeremy Hellman, Senior Associate

The Equity Group

+1 (212) 836-9626

E-mail: jhellman@equityny.com

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third party claims referred to in this release are not guaranteed to be accurate. All third party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

 

 



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