EnWave Signs Technology Evaluation and Licence Option Agreement with Major Australian Dairy Company
Vancouver, B.C., June 25th, 2018
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company" - https://www.youtube.com/watch?v=AyKTfx_H0Tk&t=64s) announced today that it has signed a Technology Evaluation and License Option Agreement (the "TELOA") with a major Australian dairy company (the “Partner”) to evaluate the use of the Company’s Radiant Energy Vacuum (“REV™”) technology for the development of several dehydrated, premium dairy ingredients.
The Partner will rent a small-scale REV™ machine for use in Australia for a maximum of six months. During this term, EnWave’s experienced food science team will collaborate closely with the Partner’s innovation group to expedite progress.
EnWave has signed a total of four TELOAs with Australian companies and has granted two separate commercial licenses to Australian royalty partners. Ashgrove Cheese Pty Ltd. has launched a premium, shelf-stable cheese snack line called Amazeballs through IGA, Coles and Woolworths locations in Australia. Howe Foods Pty Ltd. is currently developing several banana-based products for commercial evaluation. Each own small-scale commercial REV™ machines.
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. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products.
REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors including legal cannabis. 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 Corporation, NutraDried Food Company, LLC, 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 P.A. Budreski, Executive Chairman at +1 (416) 930-0914
Brent Charleton, CFA , Senior Vice President, Sales and Business Development at +1 (778) 378-9616
Deborah Honig, Corporate Development, Adelaide Capital Markets at + 1 (647) 203-8793
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