VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 14, 2013) - EnWave Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave", or the "Company") was today named a 2013 TSX Venture 50® company by the TMX Group for the fourth consecutive year. The TSX Venture 50® ranks the top 10 companies in 5 major industry sectors; identifying emerging companies that have shown strong results in key measures of market performance. EnWave was ranked seventh in the list of top Canadian Clean Technology companies.
"EnWave continues to make significant progress towards improved commercialization of Radiant Energy Vacuum ("REV™") dehydration technology. We are approaching many important decision points with our collaborators and could potentially have 3-5 Radiant Energy Vacuum machine orders by the mid-point of 2013," said John McNicol, EnWave's President and Co-CEO. "This recognition confirms the significance of our business developments in 2012 and validates the continued hard work performed by our team."
The 2013 TSX Venture 50® companies were selected based on four equally-weighted criteria that include share price appreciation, trading volume, market capitalization growth and analyst coverage growth in the Clean Technology, Mining, Oil & Gas, Diversified Industries, and Technology & Life Sciences sectors. The results were obtained from data to December 31, 2012.
The TSX Venture Exchange includes over 2250 companies in a diverse mix of industry sectors, including mining, energy, industrial, life sciences, technology, clean technology and financial services. The Exchange's total market capitalization is over CDN$54 billion. More information about the Top 50 list is available at the following link: http://www.tmx.com/venture50.
EnWave Corporation is a Vancouver-based industrial technology company developing commercial applications for its proprietary Radiant Energy Vacuum (REV™) dehydration technology. The company licensed REV™ technology to Milne Fruit Products Inc in 2011, its first major U.S. customer, to support a launch of healthy berry snacks and powders across most major markets in North America. More recently, EnWave licensed REV™ technology to one of its Tier 1 multinational collaborators from the list below. In addition, EnWave has entered into a wide range of research and collaboration agreements with an expanding list of multinational companies, including Nestlé, Kellogg's, Grupo Bimbo, Grimmway Farms, Ocean Spray Cranberries, Hormel, Bonduelle, Cherry Central, Sun-Maid Growers and Merck. EnWave is introducing REV™ as a new dehydration standard in the food and biological material sectors: potentially faster and cheaper than freeze drying, with better end product quality than air drying or spray drying.
EnWave currently has six REV™ platforms: commercial-scale nutraREV® and MIVAP® are used in the food industry to dry fruits, vegetables, meat, herbs and seafood quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour. The Company is also developing powderREV™ for bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes; quantaREV™ for continuous, high-volume low-temperature drying of pastes, gels, liquids, or particulates; and bioREV™ and freezeREV™ as new methods to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.
Dr. Tim Durance, Chairman & Co-CEO
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 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 processes in the target industry; 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. All figures comparing REV technologies to freeze drying or other dehydration technologies are provided as examples of data obtained through the Company's own scientific and testing programs; each product must be tested individually to determine the benefits of using REV.
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.