EnWave Royalty Partner Begins Selling Wasabi-Based Natural Health Product
Vancouver, B.C., June 22, 2016
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company" - https://www.commodity-tv.net/c/search_adv/?v=296287) announces today that Merom Farms Ltd. (“Merom”), a previously unnamed royalty partner, will begin selling a wasabi-based natural health product to customers on an international basis. This high-value, nutrient-rich wasabi product is processed using the Company’s Radiant Energy Vacuum (“REV™”) dehydration technology.
Merom signed a royalty-bearing commercial license with the Company and submitted a purchase order for a continuous 20kW nutraREV® machine on May 21, 2014. Since that date, a sister company of Merom, Your Wasabi Farms Inc. (“YWFI”), has been pursuing a license approval from Health Canada to designate their product as a licensed Natural Health Product (“NHP”). As of May 2016, YWFI successfully received their license. Products with a NHP license have been assessed by Health Canada and found to be safe, effective and of high quality under their recommended conditions of use.
YWFI has been operating their REV™ machine for product development since the time of its installation in late 2014, and is now producing commercial product to be sold. EnWave will receive a 5% royalty on the wholesale price of all wasabi products sold by Merom through YWFI, going forward.
About Merom Farms Ltd
Merom Farms is a leading Agricultural and Food Production company located in British Columbia, Canada. Historically, Merom has specialized in hot house production of peppers, which are marketed under the Green House Delight Foods Inc. brand. The expansion into wasabi production and processing by YWFI will complement Merom’s core competency.
Merom currently has 36 acres under glass which makes them one of the largest greenhouse complexes in the industry. Merom is a family operation with all team members living on the large, beautiful property in Abbotsford, British Columbia.
YWFI will now market and sell its high-value, nutrient-rich wasabi based natural health product. This wasabi product will be marketed under the Your Wasabi® brand. For more information about Merom Farms, please visit www.meromfarms.com, www.greenhousedelight.com and www.yourwasabifarms.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 seventeen royalty-bearing commercial licenses with various companies, thereby opening up eight distinct market sectors for commercialization. In addition to these seventeen 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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