EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company" - https://www.youtube.com/watch?v=IOKxOkoqc4w&t=1s) announces today that it has signed a Technology Evaluation and License Option Agreement (the “TELOA”) with a Major European Food Processor (the “Research Partner”) to explore the potential for dried meat products processed by the Company’s patented Radiant Energy Vacuum (“REV™”) dehydration technology. The Research Partner will have the exclusive option to license the use of REVTM technology for the production of meat products within an agreed European territory.
The Research Partner entered the TELOA after a thorough review of EnWave’s technology. The Research Partner will conduct product-focused application trials at EnWave’s pilot plant facilities in February 2017. This research effort will enable the Research Partner to build a solid knowledge base prior to potentially renting a pilot-scale REV™ machine for further development at their facilities in Europe.
EnWave has entered into TELOA agreements with several leading meat processing companies in the United States, Canada, Australia, New Zealand and Europe. The Company has signed two commercial royalty-bearing licenses with meat processing companies and continues to vigorously pursue additional commercial royalty-bearing licensing agreements in a number of other verticals.
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:
- 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.
- quantaREV® (food industry applications): designed for high-volume, low-temperature dehydration of solids, liquids, granular or encapsulated products.
- 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:
- 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
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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