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EnWave Corporation TSX VENTURE: ENW FRANKFURT: E4U |
EnWave Signs Confidentiality Agreements and Expands Product Development for nutraREVTM Food Dehydration Technology
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 16, 2009) - EnWave Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave" or "the Company") today announced that it has signed Confidentiality Agreements with more than 15 food production companies located in North and South America, Europe and Korea to determine the benefits of using its nutraREVTM food dehydration technology in a wide range of new product areas including herbs, mushrooms, bananas, mangos, pineapples, peppers, tomatoes, garlic, snack chips, shrimp, salmon and pet treats. Enwave is working closely with these companies in order to replace expensive and less efficient freeze drying machines, or to develop new products for the food ingredients and snack food markets.
"Ultimately we are working with these companies in order to sell and license our technology and expand our product lines," said John McNicol, President and Co-CEO of EnWave. "Since winning the Food Expo Innovation award earlier this year, nutraREVTM technology is now being recognized on a global scale as a very real alternative to antiquated freeze drying methods. I am extremely pleased with our progress in commercializing this disruptive technology beyond the initial market for dried blueberries."
EnWave sold and licensed its first commercial nutraREVTM technology in March 2009 to a local producer of dried "puffed" blueberries for the snack food, baking and cereal markets. EnWave selected blueberries as its first market for commercializing nutraREVTM due to the local volume of fresh and frozen berries, and the significant cost and product advantages over freeze drying demonstrated during the testing phase. These benefits enabled EnWave to secure an ongoing long-term royalty of up to 10% of gross sales from dried berries processed using its nutraREVTM technology.
EnWave's proven nutraREVTM technology competes directly with freeze drying, the current standard used to ensure long shelf-life and maximum nutrition retention in dehydrated food. nutraREVTM uses a combination of vacuum pressure and microwave energy to dehydrate fruits, vegetables, herbs and seafood at, or below, room temperatures. nutraREVTM is an effective alternative to the current industry standard of freeze drying, taking minutes or hours to dehydrate products rather than days, requiring approximately one-third the energy of freeze drying at one-sixth the capital cost. Products dried with nutraREVTM technology retain excellent colour, flavour and texture, with similar nutrients and shelf-life to freeze drying, and can be dehydrated to a variety of moisture contents as required by the customer.
About EnWave
EnWave Corporation is focused on commercializing new methods of dehydrated food and biological materials using Radiant Energy Vacuum technology under its nutraREVTM, powderREV, bioREVTM and freezeREV brands. Radiant Energy Vacuum technology uses microwave energy transfer under vacuum to dehydrate and alter structures and drive chemical reactions required for the dehydration of food and biological products including fruit, vegetables, probiotics, enzymes, proteins, food cultures, vaccines and antibodies. Radiant Energy Vacuum technology was developed in conjunction with the University of British Columbia. More information about EnWave is available at www.enwave.net.
EnWave Corporation
Mr. John McNicol, President & Co-CEO
This press release may contain forward-looking information based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions: there is no guarantee that the Company's REV technology can or will improve dehydration processes in the target industries; even if the Company's REV technology can be used as described in this document, there is no guarantee that such use will result in orders for the Company's REV technology.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
EnWave CorporationMr. John McNicol
President & Co-CEO
(604) 601-8524
john.mcnicol@enwave.net
or
EnWave Corporation
Jennifer Thompson
V.P. Corporate Development & Investor Relations
(604) 603-6549
jthompson@enwave.net
www.enwave.net
