VANCOUVER, BC--(Marketwired - December 12, 2016) - EnWave Corporation (TSX VENTURE: ENW) (FRANKFURT: E4U) ("EnWave", or the "Company") announces today that it has signed a Technology Evaluation and License Option Agreement (the "TELOA") with a Major American Pulse Crop Processor (the "Research Partner") to explore the potential for dried pulse crop products processed by the Company's patented Radiant Energy Vacuum ("REV™") dehydration technology. The Research Partner will have the exclusive option to license the use of REV™ technology for the production of pulse crop products within an agreed territory.
The Research Partner entered the TELOA after a thorough review of EnWave's technology. The Research Partner conducted product-focused application trials at EnWave's pilot plant facilities in 2016 and this research effort allowed the Research Partner to build a solid knowledge base prior to renting a pilot-scale REV™ machine for further development at their facilities. The Research Partner will rent REV™ machinery for a minimum period of three months, with an option to extend the rental period an additional three months.
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. To date, the Company has signed seventeen royalty-bearing commercial licenses with various companies, thereby opening up eight distinct market sectors for commercialization. In addition to these seventeen licenses, EnWave has formed a Limited Liability Partnership, NutraDried LLP, to develop, manufacture, market and sell all-natural cheese snack products within the United States of America under the Moon Cheese® brand.
EnWave is introducing REV™ technology as a new dehydration standard in the food and biological material sectors, with benefits including, but not limited to, a faster and cheaper method compared to freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:
1. nutraREV® (food industry applications): designed for quick, low-cost dehydration of fruits, vegetables, herbs, dairy products, meats and seafood, with benefits including improved nutritional content, appearance, flavor and texture relative to conventional methods.
2. quantaREV® (food industry applications): designed for high-volume, low-temperature dehydration of solids, liquids, granular or encapsulated products.
3. powderREV® (pharmaceutical applications): designed as a high-speed, lower-energy, continuous alternative to freeze drying for bulk dehydration of temperature-sensitive biomaterials (bacteria, cell-free extracts, enzymes, probiotics, food cultures, etc.).
In addition, EnWave is currently developing a new commercial REV™ platform:
1. freezeREV® (pharmaceutical applications): a multi-vial prototype technology designed to act as an accelerated freeze dryer to produce room-temperature stable biopharmaceuticals and reagents.
More information about EnWave is available at www.enwave.net.
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