SOURCE: EnWave Corporation

EnWave Corporation

July 10, 2015 09:00 ET

EnWave Signs Commercial License and Receives Machine Purchase Order From Second Chilean Food Processor

VANCOUVER, BC--(Marketwired - July 10, 2015) - EnWave Corporation (TSX VENTURE: ENW) (FRANKFURT: E4U) ("EnWave", or the "Company") is pleased to announce that the Company has signed a royalty-bearing commercial license agreement (the "License") with Lake Blue Spa. ("Lake Blue"), a Chilean food processing company, for the production of dried cheese snack products. This is the fourth royalty-bearing license that EnWave has granted for dried cheese production. Lake Blue has agreed to pay a 5% royalty to EnWave on the wholesale value of the dried cheese products they sell.

The License grants Lake Blue the exclusive right to use EnWave's Radiant Energy Vacuum ("REV™") dehydration technology for the production of dried cheese products in the country of Chile. To enable initial commercial production and market testing, Lake Blue has submitted a purchase order and paid a deposit to obtain a small commercial REV™ machine, which will be started-up in late 2015. Lake Blue plans to build a market for several dried cheese products and if successful, purchase a large commercial REV™ unit within the next 18 months. All other details of the License are confidential.

Lake Blue also plans to pursue other REV™-dried product opportunities, including dried fruit and vegetable products.

About Lake Blue Spa.
Lake Blue is a family owned agro-industrial company with a history spanning more than 60 years of dairy and meat ​production in the Rivers Region of southern Chile, one of the most pristine places in the world. During the last decade Lake Blue has developed fruit production that is successfully exported to markets in the United States, Europe, China and Korea.

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

For further information:

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

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

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

  • EnWave Corporation
    Dr. Tim Durance
    President, CEO and Director

    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