VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 2, 2012) - EnWave Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave", or the "Company") announced today it has signed a Market Development Agreement (the "Agreement") with Milne Fruit Products Inc. ("Milne") to collaborate on the commercial advancement of three additional products including dried cherries, strawberries and carrot using the Company's patented Radiant Energy Vacuum ("REV") technology.
Milne, a proven innovator in the North American food space, has vigorously marketed their MicroDried™ product line since their plant start-up in December 2011 at their production facility in Nampa, Idaho. Based on this initial market development work, Milne's successful introduction of dried blueberries, blackberries and raspberries for snack, baking and powder applications, has garnered additional interest from customers relating to other product opportunities. In collaboration with EnWave, Milne will determine the feasibility of producing cherry, strawberry, and carrot products for use in snack, baking, and powder applications. The expansion of Milne's product range is expected to support the market interests of other EnWave collaboration partners; potentially accelerating their commercial introduction of REV dried products using Milne as a strategic supplier.
Milne's current MicroDried™ products, dried using EnWave's REV technology, are all-natural whole fruit pieces and powders with no added sugars, flavors, colors or preservatives. Independent third-party testing comparing MicroDried™ products to air-dried and freeze-dried products in a variety of applications revealed overall superiority in appearance, flavor and texture. Available in both crunchy and chewy textures, the natural flavors and appealing fragrances result in tantalizing mouth appeal. Additionally, each MicroDried™ item retains vital nutrients; offering high levels of polyphenol antioxidants, which are ideal for new health and wellness consumer products.
MicroDried™ powders offer the nutritional benefits and appeal of 100% natural, 100% fruit in a low-moisture powder form. These powders add real fruit color, a powerful burst of flavor and improved nutrition to products such as smoothies, purees and juices, among others.
"Milne is a first-class operation motivated to build a market for their MicroDried™ product line," stated Dr. Tim Durance, Chairman & Co-CEO of EnWave. "Providing them with further product opportunities will increase the likelihood that additional MicroDried™ offerings will be brought to market; therefore, increasing the potential for supplementary royalties in the future."
"We believe there is tremendous commercial potential for MicroDried™ cherries, strawberries and carrot," stated Jack Schroeder, Milne's Vice President of Sales and Marketing. "Milne is dedicated to the market development of our entire MicroDried™ product line and will continue to investigate additional product opportunities going forward."
About Milne Fruit Products Inc.
Founded in 1956, Milne Fruit Products is the industry leader in creating fruit juices, concentrates, purees and custom blends from 25 different fruit varieties for the industrial food and beverage markets. Dedicated to using new technologies, Milne recently introduced an innovative line of MicroDried™, natural whole fruit pieces offering high levels of beneficial nutrients to provide customers with healthy fruit products that are 100% natural to meet the needs of a diverse consumer marketplace. For more information on Milne Fruit Products, please visit www.milnefruit.com.
EnWave Corporation is a Vancouver-based industrial technology company developing commercial applications for its proprietary Radiant Energy Vacuum (REV) dehydration technology. The company recently licensed REV technology to Milne Fruit Products Inc, 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 partners from the list below. In addition, EnWave has entered a wide range of research and collaboration agreements with an expanding list of multinational partners, including Nestlé, Kellogg's, Grupo Bimbo, Grimmway Farms, Ocean Spray Cranberries, Hormel, Bonduelle 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, 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.
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