EnWave Corporation

EnWave Corporation

September 29, 2009 09:30 ET

EnWave Receives Significant Government Funding for Developing its Radiant Energy Vacuum ("REV") Dehydration Technologies

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2009) - EnWave Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave" or "the Company") today announced that it has received research and development funding from three separate Canadian federal and provincial government agencies totaling $370,000 to continue the Company's development of its Radiant Energy Vacuum ("REV") dehydration technology for food, food cultures, and biopharmaceuticals.

"We are grateful for the support from all three government agencies as we continue our important work of developing dehydration technology for food, food cultures, and for the production of stable vaccines and antibodies at room temperature," said Dr. Durance. "In addition to our own shareholders, government funding has been an integral aspect of EnWave's continued development and it is encouraging to see that significant research and development initiatives in the Canadian private sector are rewarded. We would like to thank the Natural Sciences and Engineering Research Council, the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) and the B.C. Innovation Council for their continued support of Enwave's revolutionary dehydration technology."

The Natural Sciences and Engineering Research Council ("NSERC") has awarded Dr. Tim Durance, EnWave's Chairman & Co-CEO, $190,000 payable over 5 years to continue his work at the University of British Columbia on Radiant Energy Vacuum technology for drying and stabilizing vaccines, probiotic bacteria, and natural antimicrobial agents. This technology is designed to produce room temperature stable vaccines and antibodies at a fraction of the cost and processing time over freeze drying which, when proven commercially, would be a considerable breakthrough over that technology.

NRC-IRAP is providing EnWave with over $175,000 in matching funds over two years to continue the development of EnWave's powderREV bulk powder dehydration technology. powderREV is being designed to provide high-speed dehydration of live or active organisms at significantly reduced cost than the current industry standard of freeze drying. This is the second major contribution received by EnWave from the NRC-IRAP program in less than five years.

EnWave was also selected by the B.C. Innovation Council - Commercialization of Agricultural Technology Competition ("BCIC CAT Competition") to receive a $10,000 grant to develop a business plan for the Company's next version of the nutraREVTM food dehydration technology. Companies selected for grants are also eligible to compete for additional technology commercialization grants of up to $250,000 for their proposed technologies. Companies must submit business plans by October 31, 2009 and the plans chosen by the BCIC will receive the second stage of grants in Q4 2009.


NSERC aims to make Canada a country of discoverers and innovators for the benefit of all Canadians. The agency supports university students in their advanced studies, promotes and supports discovery research, and fosters innovation by encouraging Canadian companies to participate and invest in postsecondary research projects. NSERC researchers are on the vanguard of science, building on Canada's long tradition of scientific excellence. More information about NSERC is available at www.nserc-crsng.gc.ca.


NRC-IRAP provides a range of both technical and business-oriented advisory services along with potential financial support to qualified innovative Canadian small- and medium-sized enterprises. Financial assistance for this project is a direct result of the Government of Canada's Economic Action Plan. More information about NRC-IRAP is available at www.irap-pari.nrc.gc.ca.

About BC Innovation Council

The British Columbia Innovation Council (BCIC) is the lead organization charged with driving the commercialization of innovation in British Columbia. BCIC is focused on accelerating the growth of our science and technology communities and competitively positioning British Columbia in the global science and technology economy in order to provide significant employment opportunities and a high standard of living for British Columbians. BCIC is a Crown agency of the Province of British Columbia. More information is available about BCIC at www.bcic.ca.

About EnWave

EnWave Corporation is focused on commercializing new methods for dehydrating 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

Dr. Tim Durance, Chairman & 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.

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