SOURCE: EnWave Corporation

April 22, 2009 09:45 ET

EnWave Signs Cooperative Marketing Agreement With Hans Binder Maschinenbau GmbH

VANCOUVER, BC--(Marketwire - April 22, 2009) - EnWave Corporation (TSX-V: ENW) ("EnWave" or "the Company") today announced that it has signed a strategic cooperative marketing agreement ("the Agreement") with the German engineering group, Hans Binder Maschinenbau GmbH ("Hans Binder"). The Agreement creates a reciprocal, non-exclusive sales and marketing arrangement for EnWave's nutraREV™ food dehydration technology by Hans Binder in Western Europe, and for Hans Binder's MIVAP™ food dehydration technology by EnWave in North America. The goal of this Agreement is to accelerate revenue growth by each company, and to provide local machine service for their customers in the food sector.

"Hans Binder is well known in Europe, and this agreement will allow EnWave to gain immediate exposure to a very important market with a partner capable of designing turn-key dehydration plants and the know-how and facilities to support a scale-up of machine construction," said John McNicol, President and Co-CEO of EnWave. The MIVAP™ technology will also allow us to expand our own marketing and sales efforts by opening up new North American markets in the soup and meat industries."

"We are very pleased to be entering a joint marketing agreement with EnWave," stated Hans Binder's Managing Director, Johann Binder. "We strongly believe that nutraREV™ technology has a large and diverse market opportunity in Europe, and that EnWave will be successful in introducing MIVAP™ to North America."

Under the terms of the Agreement, each party will receive a sales commission and equal share of the negotiated royalties upon the completion of a sale of the other's technology in their respective home market. Although the Agreement is non-exclusive, and each party retains the right to sell directly or engage other agents, both parties believe that this Agreement will expand their ability to sell and service machinery using each other's proximity to the customer base, technology know-how, and engineering project management expertise.

EnWave and Hans Binder are pioneers and industry leaders in the development of high-speed vacuum microwave technology for food dehydration. Although both companies use microwaves as an energy source, EnWave's continuous rotating basket design and Binder's continuous tray system both offer unique proprietary advantages with limited market overlap for dehydrating a wide range of fruit, vegetable, and meat products for the snack, cereal, soup and baking industries.

NutraREV™ and MIVAP™ technologies both produce attractive dried food products with high nutritional retention, improved flavour and appearance, and significant cost savings in labour, energy and capital per kilogram of production. By entering into this arrangement, both companies seek to offer customers a broader technology, depending on the application, with the goal of accelerating the introduction of their respective methods into the Western European and North American markets. Together, the two technologies will now compete directly for all aspects of the freeze dried food market which is comprised of over 400 products around the world.

About Hans Binder

Established in 1950, Hans Binder Maschinenbau GmbH designs and develops custom driers and complete dehydration turn-key plants for customers worldwide from their engineering and machine building operation in Marzling, Germany. Hans Binder also owns the exclusive global license rights to MIVAP™, a proprietary vacuum microwave method developed by INAP GmbH, which uses a unique, continuous tray system suitable for fragile fruits and vegetables, meats, and semi-liquids like concentrated soup stocks. Hans Binder recently sold its first MIVAP™ turn-key plant for the soup industry to a leading dried soup manufacturer from Japan for their operations in France. For more information please visit: www.binder-trockner.de/en/.

About EnWave

Using proprietary technologies developed in conjunction with the University of British Columbia, EnWave is focused on the development of new methods of dehydrating food and biological materials using Radiant Energy Vacuum technology under its nutraREV™, powderREV, bioREV™ and freezeREV brands. REV technology combines microwave energy transfer under vacuum to dehydrate and alter structures and drive chemical reactions, thereby creating unique product characteristics for both food products and medical applications that include fruit, vegetables, probiotics, enzymes, proteins, food cultures, vaccines and antibodies. More information about EnWave is available at www.enwave.net.

EnWave Corporation
Dr. Tim Durance
Chairman & Co-CEO

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. The forward-looking statements in this press release include: "both parties believe." 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.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

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:

    Dr. Tim Durance
    Chairman and Co-CEO
    EnWave Corporation
    (604) 822-4425
    E-mail: tdurance@enwave.net

    Mr. Fred Hoen
    Sales Director
    Hans Binder
    (49) 81-61-96-81-50
    E-mail: f.Hoen@INAP-Gmbh.de

    Jennifer Thompson
    V.P. Corporate Development & Investor Relations
    (604) 603-6549
    E-mail: jthompson@enwave.net