EnWave Corporation

EnWave Corporation

November 12, 2009 09:30 ET

EnWave Signs Letter of Intent to Sell nutraREV® Food Dehydration Technology in South and Central America

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2009) -

EnWave Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave" or "the Company"), has signed a Letter of Intent ("LOI") with a North American consortium for the purpose of selling up to four commercial-scale nutraREV® food dehydration machines over the next four years. The machines will be used for the production of a variety of dried fruit and vegetable products grown in South and Central America. SmartPac, LLC of California, and Innovative Food Systems ("IFS") of Princeton, British Columbia (together, "the Consortium"), intend to establish the first nutraREV® plant in Central America where they expect to produce nutraDried banana chips, tropical fruit, and vegetables products for international export.

"Establishing a leading-edge dehydration facility where many of the world's fresh fruits and vegetables are grown bodes well for the success of this project," said John McNicol, EnWave's President & Co-CEO. "SmartPac and IFS are creating an ideal dehydration plant and distribution centre for shipping nutraDried products globally."

Banana chips are a globally-consumed snack food with a wide variety of other applications, including cereals and baked goods. Sample quantities of nutraDried banana chips produced by EnWave for the Consortium have better flavour than conventionally-prepared banana chips. In addition, unlike traditional banana chips, nutraDried products are dried in their natural state and not fried in fattening oil.

"We are excited by the opportunity to introduce the nutraREV® technology to the South and Central American markets," stated Dr. Perry Lidster, President of IFS. "We have a solid depth of experience in fresh food processing in this region, and we are looking forward to working closely with Dr. Tim Durance and his product development team to create truly unique, high quality product offerings for the global market."

The LOI extends until May 31, 2010, and is subject to the completion of a market assessment by the Consortium, delivery of Consortium financing, and the negotiation of final license terms between the parties. Until this date, the Consortium has been granted exclusivity over the use of nutraREV® in a certain area of Latin America, and this may be extended to additional areas subject to a set of purchase targets and minimum royalty performance levels. In addition to the terms of the commercial equipment sale, provisions in the LOI include a royalty of up to 10% on gross sales derived from products produced using nutraREV® technology. The equipment license would also include opportunities to expand into the production of other nutraDried fruit and vegetable products grown in the licensed regions.

About IFS & SmartPac
Together, IFS and SmartPac, LLC provide patented and trademarked packaging, food safety systems and technologies that extend fresh produce life span and protect vegetables and fresh fruits throughout storage and the logistics distribution process. The SmartPacTM modified atmosphere packaging system provides growers and exporters the ability to ripen fruits on the tree or vine to achieve optimum flavor, sugar/acid balance and nutritional values. The introduction and implementation of the nutraREV® technology complements the core "value add" business.

About EnWave
Using proprietary technologies developed in conjunction with the University of British Columbia, EnWave is focused on the development of new methods of dehydrating food and biological materials using Radiant Energy Vacuum technology under its nutraREV®, powderREV®, bioREV® and freezeREV® brands. REV technology combines microwave energy transfer under vacuum to dehydrate and alter structures and drive chemical reactions, thereby creating unique product characteristics for both food products and medical applications that include fruit, vegetables, probiotics, enzymes, proteins, food cultures, vaccines and antibodies. 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.

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