Vancouver, B.C., February 22nd, 2016
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company" - http://www.commodity-tv.net/c/mid,1323,Interviews/?v=295748 ) today announced that it has received a purchase order (the “Purchase Order”) and a deposit for a 100kW nutraREV® machine (the “Machine”) from Gay Lea Foods Co-operative (“Gay Lea Foods”). Gay Lea Foods, a royalty partner of the Company, has been operating a 10kW nutraREV® machine for commercial cheese snack production since early 2015. This Purchase Order signifies Gay Lea Food’s commitment to increasing their product diversification as well as offering consumers more options in the healthy snack industry in Canada and other markets.
By purchasing the Machine, Gay Lea Foods has secured the exclusive right to produce cheese snack products using Radiant Energy Vacuum (“REV™”) dehydration technology in Canada. Gay Lea Foods is one of six geographically diverse royalty partners that have licensed REV™ technology for the production of cheese snack products. Thus far, EnWave has granted exclusive licenses for cheese snack production in Canada, the United States, Central America, Chile, Portugal and Spain. Each royalty partner has agreed to pay a royalty to the Company on the wholesale value of the cheese snack products produced.
This is the fifth large commercial scale REV™ machine to be sold to a royalty partner by EnWave. The Company plans to vigorously continue its pursuit of securing further royalty partners and selling additional REV™ machinery.
About Gay Lea Foods Co-operative Ltd
Gay Lea Foods is 100% Canadian owned and operated, with 1200 dairy farmer owners who produce 35% of Ontario’s milk, and more than 3800 members making it the largest dairy co-operative in Ontario. Gay Lea Foods is driven by innovation and growing the market for Canadian milk. Gay Lea Foods manufactures a range of wholesome dairy products including milk, dips, butter, yogurt, sour cream, whipped cream, cheese, cottage cheese, and dairy ingredients. In 2008, Gay Lea Foods added the award-winning artisan cheese brand, Ivanhoe Cheese, to its cheese division and has now introduced the new, innovative snack made with 100% Canadian cheese, Nothing But CheeseTM. More information about Gay Lea is available at www.gaylea.com.
EnWave Corporation is a Vancouver-based industrial technology company developing commercial applications for its proprietary Radiant Energy Vacuum (REV™) dehydration technology. EnWave aims to sign royalty-bearing commercial licenses with leading food and pharmaceutical companies for the use of its revolutionary technology. To date, the Company has signed fifteen royalty-bearing commercial licenses with various companies, thereby opening up eight distinct market sectors for commercialization. In addition to these fifteen licenses, EnWave has formed a Limited Liability Partnership, NutraDried LLP, to develop, manufacture, market and sell all-natural cheese snack products within the United States of America under the Moon Cheese® brand.
EnWave is introducing REV™ technology as a new dehydration standard in the food and biological material sectors, with benefits including, but not limited to, a faster and cheaper method compared to freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:
1. nutraREV® (food industry applications): designed for quick, low-cost dehydration of fruits, vegetables, herbs, dairy products, meats and seafood, with benefits including improved nutritional content, appearance, flavor and texture relative to conventional methods.
2. quantaREV® (food industry applications): designed for high-volume, low-temperature dehydration of solids, liquids, granular or encapsulated products.
3. powderREV® (pharmaceutical applications): designed as a high-speed, lower-energy, continuous alternative to freeze drying for bulk dehydration of temperature-sensitive biomaterials (bacteria, cell-free extracts, enzymes, probiotics, food cultures, etc.).
In addition, EnWave is currently developing a new commercial REV™ platform:
1. freezeREV® (pharmaceutical applications): a multi-vial prototype technology designed to act as an accelerated freeze dryer to produce room-temperature stable biopharmaceuticals and reagents.
More information about EnWave is available at www.enwave.net.
Dr. Tim Durance
President & CEO
For further information:
John Budreski, Executive Chairman, EnWave Corporation at +1 (416) 930-0914
Brent Charleton, Senior Vice President, Business Development at +1 (778) 378-9616
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.
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