SOURCE: EnWave Corporation

EnWave Corporation

January 05, 2015 09:00 ET

EnWave Receives Purchase Order From Hormel Foods for 100kW Radiant Energy Vacuum Machinery

VANCOUVER, BC--(Marketwired - January 05, 2015) - EnWave Corporation (TSX VENTURE: ENW) (FRANKFURT: E4U) ("EnWave", or the "Company") is pleased to announce that Hormel Foods Corporation ("Hormel Foods"), a current commercial licensee of the Company's Radiant Energy Vacuum ("REV™") dehydration technology and a Fortune 500 company, has submitted a purchase order (the "order") to EnWave for a 100kW nutraREV® machine (the "machine").

Hormel Foods and EnWave are expecting the installation of the machine to be completed in 2015 at a plant located in the United States. The start-up of this machine will enable Hormel Foods to enhance its commercial production and launch new, innovative dried meat snack products.

Prior to submitting this order, Hormel Foods conducted successful technology, product and market evaluations using REV™ technology. The company's decision to pursue increased commercialization of REV™-dried meat snack products confirms the value proposition of EnWave's proprietary dehydration technology and builds its momentum in this global market. 

In addition to the order, Hormel Foods has agreed to purchase lab-scale nutraREV® equipment for the purpose of continued product development at their research and development facilities. EnWave will continue to support the ongoing world-class innovation efforts of Hormel Foods.

About Hormel Foods
Hormel Foods Corporation, based in Austin, Minn., is a multinational manufacturer and marketer of consumer-branded food and meat products, many of which are among the best known and trusted in the food industry. The company leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring branded, value-added products to the global marketplace. The company is a member of the Standard & Poor's (S&P) 500 Index, S&P 500 Dividend Aristocrats for 2014, was named the 2013 Sustainable Supply Chain of the Year by Refrigerated & Frozen Foods magazine, and was again named one of "The 100 Best Corporate Citizens" by Corporate Responsibility Magazine for the sixth year in a row. Hormel Foods was also recognized as a 2015 Military Friendly Employer by G.I. Jobs magazine, and named one of the 2014 40 Best Companies for Leaders by Chief Executive magazine. The company enjoys a strong reputation among consumers, retail grocers, foodservice and industrial customers for products highly regarded for quality, taste, nutrition, convenience and value. For more information, visit http://www.hormelfoods.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 twelve 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: potentially 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
    Vice President, Corporate Affairs
    +1 (778) 378-9616
    E-mail: bcharleton@enwave.net