EnWave Receives Purchase Order from Eregli Agrosan for 100kW REV™ Machine, Signs Marketing Cooperation Agreement
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company" - https://www.commodity-tv.net/c/mid,1323,Interviews/?v=296935 ) today reports that it has received a purchase order (the “Purchase Order”) from Ereğli Agrosan (“Ereğli”) for a 100kW Radiant Energy Vacuum (“REV™”) machine to expand their processing capacity of their AgroREV® fruit, vegetable and cheese products. EnWave and Ereğli have also signed a non-exclusive Marketing Cooperation Agreement (the “MCA”) to help facilitate sales growth of AgroREV® products in North America.
Ereğli has received tremendous interest from several leading food processors in Europe and Asia regarding their AgroREV® product line. In order to satisfy the capacity demands required by these major food processors, Ereğli has chosen to immediately expand their production capacity and plans to react quickly with further expansion if demand continues to increase. Moving forward, Ereğli will continue to focus on its core business-to-business strategy, providing its customers with the best quality ingredients and snack products.
The MCA confirms a strategic marketing partnership between Ereğli and EnWave and outlines the efforts that both parties will make to broaden the marketing and sales efforts for both AgroREV® products and REV™ dehydration technology.
About Eregli Agrosan
Ereğli Agrosan was founded by several influential and successful Turkish business people including Mr. Bülent Ünal, the Chairman of Tüyap Fairs and Exhibitions; Mr. Mehmet Ali Karamehmet, a Board Member of Çukurova Holding; and Mr. Ömer Kaymakçalan, an experienced and successful investment manager. Ereğli Agrosan’s strength is derived from the experience and skills of its founders. They have extensive knowledge and experience in financial management, international trade, marketing and operations management.
Ereğli Agrosan’s head office and research and development laboratory are in İstanbul; their agricultural activity takes place on company owned agricultural land which is located on 700 hectares in Konya, Ereğli and 200 hectares in Tarsus. Ereğli Agrosan is currently completing two facilities for production: a 30,000m2 facility in Konya, Ereğli district and a 4,000m2 facility in Tarsus-Mersin. The strategic location of Turkey acts as a natural bridge between both East-West and North-South axis resulting in the creation of an efficient and cost-effective outlet to major markets. Operating from this location, Ereğli Agrosan can easily reach 1.5 billion potential customers in Europe, Eurasia, the Middle East and North Africa. Since Turkey has a highly developed technological infrastructure in transportation (both railway and sea transport), direct delivery to most of the EU countries is possible.
For more information on Ereğli Agrosan please visit www.eregliagrosan.com/en/
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.
Dr. Tim Durance
President & CEO
For further information:
John Budreski, Executive Chairman at +1 (416) 930-0914
Brent Charleton, Senior Vice President, Business Development at +1 (778) 378-9616
Jeremy Hellman, Senior Associate
The Equity Group
+1 (212) 836-9626
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.