EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company" - http://www.commodity-tv.net/c/search_adv/?v=297218) announced today that it has signed a Commercial Royalty-Bearing License (the “License”) with Van Dyk Specialty Products Ltd. (“Van Dyk”), a major Canadian producer of wild blueberry products. Van Dyk also submitted a purchase order for EnWave to deliver a large-scale 60kW Radiant Energy Vacuum (“REV™”) machine.
The 60kW nutraREV® machine is scheduled for installation in the second half of 2017 at a new food-grade facility built by Van Dyk in Nova Scotia, Canada. The License grants Van Dyk certain exclusivity for the production of wild blueberry products using REV™ technology. Van Dyk will pay EnWave a royalty on the wholesale value of the finished products when sold. EnWave’s nutraREV® technology will enable Van Dyk to produce healthy, flavorful wild blueberry products that are rich in antioxidants.
Van Dyk has been growing and harvesting wild blueberries in Nova Scotia, Canada for over forty years. They have a high level of experience in the food industry and distribution relationships throughout North America, Europe and Asia. Van Dyk’s showcase product is a wild blueberry juice containing only one ingredient: Canada Grade “A” wild Nova Scotia blueberries. Van Dyk aims to expand their product offering by developing a number of dry, all-natural, healthy wild blueberry products using EnWave’s REV™ technology.
This is EnWave’s eighteenth commercial royalty-bearing license; the seventh for the processing of fruits and vegetables. EnWave’s technology licensing business model continues to gain momentum with each additional commercial partner agreeing to pay long term royalties for the use of the Company’s innovative and economical REV™ machinery.
About Van Dyk Blueberries Ltd.
Casey and Henrica Van Dyk and their family have been harvesting wild blueberries in Nova Scotia, Canada, for almost 40 years. In the mid-90s, they began thinking about a convenient way for their customers to benefit from the incredible nutrition and health benefits of wild blueberries all year round. The task of producing a high-quality juice began.
The Van Dyks’ goal was to produce a juice that consistently retains the health properties of fresh blueberries and is also safe and shelf-stable. By partnering with a team of agricultural scientists, they were able to develop a proprietary process for pure wild blueberry juice production that delivers exceptional quality, purity, and taste.
Through independent testing, the Van Dyks’ have been able to prove their juice retains a high level of antioxidant activity from the original fruit. Van Dyk is now focused on providing the market with high-quality dried products to complement their successful juice product. For more information please visit www.vandykblueberries.ca.
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 eighteen 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:
- 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;
- powderREV® which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point, and
- 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 at +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.