EnWave Signs Technology Evaluation and License Option Agreement with Australasian Meat Processor
Vancouver, B.C., July 8th, 2016
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company" - https://www.commodity-tv.net/c/search_adv/?v=295748) announces today that it has signed a Technology Evaluation and License Option Agreement (the “TELOA”) with the leading manufacturer of fresh and processed meat products in Australia and New Zealand (the “Research Partner”).
Pursuant to the TELOA, the Research Partner has the right to use EnWave’s Radiant Energy Vacuum (“REV™”) dehydration technology for research and development purposes exclusively in Australia and New Zealand for a period not to exceed twelve months. EnWave will deliver rental pilot-scale REV™ equipment to the Research Partner’s research and development facilities in 2016. Prior to the delivery of the machinery in Australia, representatives from the Research Partner will visit EnWave’s pilot plant facilities in Vancouver, Canada for an initial training session and knowledge transfer.
EnWave is currently engaged with six leading meat processors spanning Europe, North America, South America and now Australasia. The Company’s REV™ technology has proven to be a viable, continuous, low-temperature, commercial-scale dehydration process for several meat-based applications. Moreover, the homogeneous and flexible nature of REV™ technology allows for the development of new and innovative products.
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
E-mail: [email protected]
Brent Charleton, Senior Vice President, Business Development at +1 (778) 378-9616
E-mail: [email protected]
Jeremy Hellman, Senior Associate
The Equity Group
+1 (212) 836-9626
E-mail: [email protected]
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