SOURCE: EnWave Corporation

EnWave Corporation

July 20, 2015 09:00 ET

EnWave Further Strengthens Intellectual Property Portfolio, Obtains powderREV®, freezeREV® and quantaREV® Patents, Extends Royalty Stream Timeline

VANCOUVER, BC--(Marketwired - July 20, 2015) - EnWave Corporation (TSX VENTURE: ENW)(FRANKFURT: E4U) ("EnWave", or the "Company") is pleased to announce that the Company has further strengthened its intellectual property portfolio by obtaining the technological design patents protecting its powderREV® platform in Canada, freezeREV® platform in Canada and China, and quantaREV® platform in Europe and Japan. All three platforms are unique versions of EnWave's Radiant Energy Vacuum ("REV™") drying technology.

The powderREV® platform patent is integral to the protection of REV™-related biopharmaceutical drying processes that are currently evolving through the collaborative efforts of both EnWave and its partners. powderREV® is ideal for the dehydration of biopharmaceutical products below the freezing point using precise combinations of vacuum and microwave energy.

EnWave's freezeREV® platform also is designed to remove moisture from biopharmaceutical materials below the freezing point, but with the distinction of handling biopharmaceuticals in vials through the process.

The quantaREV® platform is the Company's tray-based system that homogeneously removes moisture from organic materials above the freezing point. quantaREV® is a highly scalable of EnWave's REV™ machinery and is currently being used by several commercial partners.

New REV™-related patents directly enhance EnWave's core business by establishing new royalty streams via future royalty-bearing commercial licenses and lengthening the life of confirmed royalty streams. The majority of EnWave's licensees are required to pay quarterly royalties to the Company until the expiry of the last REV™-related patent in EnWave's intellectual property suite. Each time a new patent is granted, this royalty stream timeline extends twenty years from the Patent Cooperation Treaty filing date.

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 fourteen 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