EnWave Signs Technology Evaluation and License Option Agreement with Major Australian Spice Company
Vancouver, B.C., June 13, 2017
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave” or “the Company" - https://www.commodity-tv.net/c/search_adv/?v=297291 ) today announced that the Company has signed a Technology Evaluation and License Option Agreement (the “Agreement”) with a leading Australian spice company (the “Research Partner”). The Agreement enables the Research Partner to use Radiant Energy Vacuum (“REV™”) dehydration technology to develop innovative new product applications, as well as improve on their current product offerings. The REV™ machinery will be installed at their facilities in Australia for a term of up to nine months. All other terms of the Agreement are confidential.
The use of EnWave’s patented REVTM dehydration technology provides distinct advantages in the processing of high-value spices and herbs. REVTM has been shown to significantly improve the retention of natural flavors, pigments and nutrient retention in spice and herb processing, which are key advantages and product differentiation in this competitive market vertical. EnWave has contributed to many scientific publications, obtained patents and successfully developed food products in the herb and spice category that demonstrate the technological advantages of REVTM drying.
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 twenty 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:
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 Budreski, Executive Chairman, EnWave Corporation 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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