EnWave Signs Royalty-Bearing License with Arla Foods, Receives Equipment Purchase Order
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Vancouver, B.C., July 6, 2018
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company") announced today that it has signed a commercial royalty-bearing license (the “License”) with Arla Foods (“Arla”), the world’s largest manufacturer of organic dairy products and an innovation leader.
Pursuant to the License, Arla submitted a purchase order to obtain a small commercial-scale Radiant Energy Vacuum (“REV™”) machine to initiate production in 2018, with plans to quickly scale if its products are commercially successful. Additionally, Arla is committed to new product development using REV™ technology.
The License grants Arla the exclusive right to use REV™ technology to process dairy products in Denmark, Sweden, Finland and Norway. The License also provides Arla with the option to expand their exclusive territory to include other defined regions in exchange for representative annual payments. All other terms of the License are confidential.
About Arla Foods
Arla Foods is an international dairy company owned by 11,200 farmers from Denmark, Sweden, the UK, Germany, Belgium, Luxemburg and the Netherlands. Arla Foods is one of the strongest players in the international dairy arena, with a wide range of dairy products of highest quality. Well-known brands like Arla®, Lurpak® and Castello® belong to the Arla family. Arla Foods is also the world's largest manufacturer of organic dairy products. For more information about Arla Foods, please visit www.arla.com.
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, cannabis, 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 over twenty royalty-bearing licenses to date, opening up nine 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
E-mail: [email protected]
Brent Charleton, CFA, Senior Vice President, Sales and Business Development at +1 (778) 378-9616
E-mail: [email protected]
Deborah Honig, Corporate Development, Adelaide Capital Markets at + 1 (647) 203-8793
E-mail: [email protected]
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