EnWave Signs Technology Evaluation and License Option Agreement with Nestlé
Vancouver, B.C., July 12, 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 new Technology Evaluation and License Option Agreement (the “Agreement”) with Nestec Ltd., a subsidiary of Nestlé S.A. of Vevey, Switzerland (“Nestec”). The Agreement involves EnWave’s REV™ food dehydration technology.
Nestec and EnWave will collaborate during a term of twelve months to evaluate REV™ technology for the dehydration of certain products. EnWave has granted Nestec an option to exclusively license this technology should the outcome of the evaluation be successful. All other terms of the Agreement are confidential.
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-one 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:
- 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
Brent Charleton, Senior Vice President, Business Development at +1 (778) 378-9616
Jeremy Hellman, Senior Associate, The Equity Group at +1 (212) 836-9626
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