VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 15, 2012) - EnWave Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave", or the "Company") announced today it has signed a Research & Development Agreement with an exclusive option to license ("the Agreement") with Sun-Maid Growers of California ("Sun-Maid"), a global leader in the production of premium quality raisins and dried fruit.
EnWave and Sun-Maid will work together to determine the feasibility of using EnWave's Radiant Energy Vacuum ("REV") technology to dry a variety of fruit products. If the product development is successful, Sun-Maid has the exclusive option to license the Company's REV technology for specific fruit products outlined in the Agreement. All other terms of the Agreement are confidential.
"Sun-Maid is a well-known and successful processor of healthy dried fruit snack products," stated Dr. Tim Durance, Chairman & Co-CEO of EnWave. "Their focus on producing premium products aligns well with our ability to achieve superior color, flavor and appearance using REV technology."
About Sun-Maid Growers of California
Sun-Maid has served consumers and customers since 1912 by providing premium quality raisins and dried fruits from the raisin and fruit farms of California to homes and eating establishments around the world. As a cooperative, Sun-Maid Growers of California is owned by family farmers who grow raisin grapes all located within 100 miles of each other in the Great Central Valley of California, midway between Los Angeles to the south and San Francisco to the north. This fertile agricultural valley produces some of the best fruits and vegetables in the world, including a wide assortment of grapes, peaches, plums, apples, figs, apricots, blueberries, strawberries, and melons. When appropriate, Sun-Maid reaches beyond this geographical area to source a complete array of dried fruits. More information about Sun-Maid is available at www.sunmaid.com.
EnWave Corporation is a Vancouver-based industrial technology company developing commercial applications for its proprietary Radiant Energy Vacuum (REV) dehydration technology. The company recently licensed REV technology to Milne Fruit Products Inc, its first major U.S. customer, to support a launch of healthy berry snacks and powders across most major markets in North America. More recently, EnWave licensed REV technology to one of its Tier 1 multinational partners from the list below. In addition, EnWave has entered a wide range of research and collaboration agreements with an expanding list of multinational partners, including Nestlé, Kellogg's, Grupo Bimbo, Grimmway Farms, Ocean Spray Cranberries, Hormel, Bonduelle and Merck. EnWave is introducing REV as a new dehydration standard in the food and biological material sectors: potentially faster and cheaper than freeze drying, with better end product quality than air drying or spray drying.
EnWave currently has six REV platforms: commercial-scale nutraREV® and MIVAP® are used in the food industry to dry fruits, vegetables, meat, herbs and seafood quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour. The Company is also developing powderREV™ for bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes; quantaREV™ for continuous, high-volume low-temperature drying of pastes, gels, liquids, or particulates; and bioREV™ and freezeREV™ as new methods to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.
Dr. Tim Durance, Chairman & Co-CEO
Safe Harbour for Forward-Looking Information Statements: 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 processes in the target industry; 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. All figures comparing REV technologies to freeze drying or other dehydration technologies are provided as examples of data obtained through the Company's own scientific and testing programs; each product must be tested individually to determine the benefits of using REV.
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