SOURCE: EnWave Corporation

EnWave Corporation

April 06, 2015 09:00 ET

EnWave Signs Royalty-Bearing Commercial License and Receives Machine Purchase Order From Umland LLC

VANCOUVER, BC--(Marketwired - April 06, 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 (the "License") with Umland LLC ("Umland"), which grants Umland the exclusive right to use EnWave's Radiant Energy Vacuum ("REV™") technology in the United States of America ("U.S.") to dehydrate 'Cholov Yisroel' cheese snack products. Cholov Yisroel is the highest kosher certification that can be bestowed on any dairy product. Umland will be exclusively supplying Cholov Yisroel cheese snack products to Point 32 Foods LLC ("Point32"). Point32 is a leader in marketing and selling high kosher and natural foods.

In addition to the License, Umland has submitted a Purchase Order (the "Order") and deposit for the purchase of a small commercial-scale REV™ machine that will be used to begin production in the first half of 2015 and allow Point32 to start building the market for this new, innovative, high kosher snack product. Umland will pay EnWave a 5% royalty on the wholesale value of all Cholov Yisroel cheese snacks that are produced and sold using REV™ technology. All other terms of the License and Order are confidential.

About Umland LLC and Point32 Foods
With operations in two countries, Umland and Point32 are leaders in both research and development and drying innovation. The Retail Division of Point32 has broad experience, specifically in the kosher and natural food industry. Both companies are committed to strict quality control, illustrated by their plants meeting or exceeding the most exacting world-wide standards. For more information on Point32 visit www.point32foods.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 thirteen 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
    Senior Vice President
    Corporate Affairs  
    +1 (778) 378-9616
    E-mail: bcharleton@enwave.net