EnWave Receives Second Machine Purchase Order from Ereğli Agrosan
Vancouver, B.C., May 12th, 2016 - EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company" - https://www.commodity-tv.net/c/search_adv/?v=295748) today announced that it has received a second purchase order and deposit for a Radiant Energy Vacuum (“REV™”) machine from Ereğli Agrosan, a Turkish company that produces high-value, natural products and derivative products for the food, cosmetic and health sectors. This second REV™ machine will double the processing capacity of Ereğli Agrosan and is scheduled for delivery in the fall of 2016.
The license terms for Ereğli Agrosan include a requirement that, in addition to purchasing two smaller REV™ machines, Ereğli Agrosan must submit a purchase order for one 100kW REV™ machine within twelve months of the start-up of the first small commercial REV™ machine. Further, the license terms also include a requirement that a second 100kW REV™ machine be purchased within three years. These multiple purchase commitments are required in order for Ereğli Agrosan to retain exclusivity.
Ereğli Agrosan also recently purchased a lab-scale REV™ machine for product development purposes. Their technicians and scientists have been actively developing numerous product applications at their facility in Istanbul since March 2016 and representatives from Ereğli Agrosan spent a week in April at EnWave’s pilot plant facilities to improve their processing know-how.
Ereğli Agrosan holds the exclusive right to process a variety of fruit, vegetable and cheese products using REV™ dehydration technology in Turkey. Subject to their exclusive license, Ereğli Agrosan has agreed to pay EnWave a quarterly product specific royalty based on the wholesale value of the individual product applications.
About Ereğli 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 skillsets 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 7,000 decares in Konya, Ereğli and 2,000 decares 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 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 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
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