SOURCE: EnWave Corporation

EnWave Corporation

July 24, 2015 14:54 ET

EnWave Announces Successful Installation of 120kW quantaREV® Machine for Bonduelle

VANCOUVER, BC--(Marketwired - July 24, 2015) - EnWave Corporation (TSX VENTURE: ENW) (FRANKFURT: E4U) ("EnWave", or the "Company") is pleased to announce that the Company has installed a 120kW quantaREV® machine for Bonduelle, a global leader in the production of frozen and canned vegetables, at a facility located in Quebec, Canada. This Radiant Energy Vacuum ("REV™") machine equips Bonduelle to produce tonnage of dehydrofrozen vegetables, a new, innovative way to materially enhance frozen vegetables. Bonduelle started the research & development with this equipment and with the fresh vegetables in June 2015. Bonduelle plans to introduce these improved frozen vegetable products to their customer during the next year according to the results of the research & development.

Dehydrofrozen vegetables are produced by homogeneously removing a small amount of moisture from fresh vegetables immediately before freezing. The removal of moisture prior to freezing also enhances the flavor, color and nutrient concentration. Bonduelle aims to establish their dehydrofrozen vegetables as the premium option in the global frozen vegetable industry.

In November 2012, Bonduelle signed an exclusive royalty-bearing license with EnWave Corporation to produce dehydrofrozen vegetables using REV™ technology, granting Bonduelle global exclusivity for this product area. Bonduelle will pay a production-based royalty on a quarterly basis and a monthly lease payment to EnWave as compensation for the use of the 120kW quantaREV® machinery.

This installation is the first commercial-scale quantaREV® machine that has been built by EnWave. The quantaREV® platform uses either tray and/or belt components to continuously transport organic materials through a vacuum-microwave environment. As Bonduelle grows the market for dehydrofrozen vegetables, they will also collaborate with EnWave to finalize the design and construction of a 300kW quantaREV® machine for potential future use.

EnWave's REV™ technology enables flexible, homogenous moisture removal from organic material. The production of dehydrofrozen food applications is one example of the unique value proposition that can be created only by REV™ technology.

About Bonduelle
Bonduelle has a clear goal: to be a nutrition partner for consumers. It does all it can to encourage people to eat vegetables by offering a very wide product range which is extensively available in over 100 countries worldwide. Today the company has over 80 types of vegetable and has been present since 1997 in four segments: canned, frozen, fresh and delicatessen salads. Bonduelle is above all a 'corporate' brand and a family brand. The brand name is both the name of the company and the name of the founding family, whose activities began back in the middle of the 19th Century. Giving the family's name to the product ensures that consumers immediately identify the product and recognize the name, Bonduelle. Its Chief Executive Officer, Christophe Bonduelle, represents the 6th generation of this family business. For more information on Bonduelle please visit www.bonduelle.com.

About EnWave
EnWave Corporation is a Vancouver-based industrial technology company developing commercial applications for its proprietary Radiant Energy Vacuum (REV™) dehydration technology. EnWave aims to sign royalty-bearing commercial licenses with leading food and pharmaceutical companies for the use of its revolutionary technology. Thus far the Company has signed thirteen royalty-bearing licenses, opening up eight distinct market sectors for commercialization with companies. 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 is introducing REV™ as a 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® 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® is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point and quantaREV® is used for continuous, high-volume low-temperature drying. Two additional platforms, bioREV® and freezeREV®, are being developed as new methods to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.

EnWave Corporation
Dr. Tim Durance
President
CEO and Director

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 the expected synergies following the closing are forward-looking statements. All third party claims referred to in this release are not guaranteed to be accurate. All third party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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.

Contact Information

  • For further information:

    Mr. John Budreski
    Executive Chairman
    EnWave Corporation
    +1 (416) 930-0914
    E-mail: jbudreski@enwave.net

    Mr. Brent Charleton
    Senior Vice President
    Corporate Affairs
    +1 (778) 378-9616
    E-mail: bcharleton@enwave.net