SOURCE: EnWave Corporation

EnWave Corporation

November 02, 2015 09:00 ET

EnWave Extends Technology Evaluation and License Option Agreement With Jack Link's® Protein Snacks

VANCOUVER, BC--(Marketwired - November 02, 2015) - EnWave Corporation (TSX VENTURE: ENW) (FRANKFURT: E4U) ("EnWave", or the "Company") confirmed today that the Company has extended the Technology Evaluation and License Option Agreement (the "Agreement") that has been in place with Jack Link's® Protein Snacks ("Jack Link's") since August 2014.

This amendment allows Jack Link's to continue the development of a number of snack products that are dried using Radiant Energy Vacuum ("REV™") dehydration technology. Jack Links continues to see tremendous promise in the technology, and as a result has extended the Agreement into 2016.

EnWave's REV™ dehydration technology offers advantages to processors of meat and protein products. The Company currently has four major meat and protein processors engaged in technology evaluation relationships and one multi-billion dollar revenue company that has signed a royalty-bearing commercial license to produce dried meat snack products in the United States of America.

Jack Link's® Protein Snacks -- Feed Your Wild Side™

Jack Link's is a global leader in snacks and the No. 1 meat snack manufacturer worldwide. Headquartered in Minong, Wis., Jack Link's is a family-owned company that represents a heritage of quality and consumer trust, with the mission to Feed Your Wild Side. Jack Link's offers more than 100 premium meat snacks in a variety of flavors, sizes and price points, appealing to nearly every consumer and occasion. Check out JackLinks.com for more information on the brand.

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. To date, the Company has signed fifteen royalty-bearing commercial licenses with various companies, thereby opening up eight distinct market sectors for commercialization. In addition to these fifteen licenses, EnWave has formed a Limited Liability Partnership, NutraDried LLP, to develop, manufacture, market and sell all-natural cheese snack products within the United States of America under the Moon Cheese® brand.

EnWave is introducing REV™ technology as a new dehydration standard in the food and biological material sectors, with benefits including, but not limited to, a faster and cheaper method compared to freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:

  1. nutraREV® (food industry applications): designed for quick, low-cost dehydration of fruits, vegetables, herbs, dairy products, meats and seafood, with benefits including improved nutritional content, appearance, flavor and texture relative to conventional methods.
  2. quantaREV® (food industry applications): designed for high-volume, low-temperature dehydration of solids, liquids, granular or encapsulated products.
  3. powderREV® (pharmaceutical applications): designed as a high-speed, lower-energy, continuous alternative to freeze drying for bulk dehydration of temperature-sensitive biomaterials (bacteria, enzymes, probiotics, food cultures, etc.).

In addition, EnWave is currently developing two new commercial REV™ platforms:

  1. freezeREV® (pharmaceutical applications): a multi-vial prototype technology designed to act as an accelerated freeze dryer to produce room-temperature stable biopharmaceuticals and reagents.
  2. bioREV® (pharmaceutical applications): a single-vial prototype technology designed to produce room-temperature stable vaccines and antibodies requiring less refrigeration.

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