SOURCE: EnWave Corporation

EnWave Corporation

November 12, 2015 09:00 ET

EnWave Signs Technology Evaluation and License Option Agreement With Nature's Touch Frozen Foods Inc. for Dehydrofrozen Fruit Products

VANCOUVER, BC--(Marketwired - November 12, 2015) -

EnWave Corporation (TSX VENTURE: ENW)(FRANKFURT: E4U) ("EnWave", or the "Company") is pleased to announce today that the Company has signed a Technology Evaluation and License Option Agreement (the "Agreement") with Nature's Touch Frozen Foods Inc. ("Nature's Touch"). Nature's Touch is a leading global processor and distributor of frozen fruit with a significant presence in the United States of America, Canada, the United Kingdom, Australia, Japan and Taiwan.

Nature's Touch will evaluate the merits of EnWave's Radiant Energy Vacuum ("REV™") dehydration technology for the purpose of producing high quality dehydrofrozen ("DHF") fruit products.

DHF fruit is produced by homogeneously removing a small amount of moisture from fresh fruit immediately prior to freezing. When perfected, DHF fruit possesses many characteristics that are similar to fresh fruit products. DHF processing also reduces the amount of detrimental 'weeping' that occurs when thawing or cooking frozen fruit in pies and pastry. Additionally, the reduced water content of DHF product can decrease shipping costs through lower product weight.

The DHF process can produce a superior quality frozen fruit with concentrated flavor, improved color and nutrient retention.

Pursuant to the Agreement, Nature's Touch has a six month option to exclusively license EnWave's REV™ technology to produce DHF fruit products. All other details of the Agreement are confidential.

About Nature's Touch Frozen Foods Inc.

Nature's Touch was founded in 2004, with a vision to change the way consumers look at frozen fruit. In eleven years, Nature's Touch has won the private label frozen fruit accounts of all major grocery chains in Canada. Nature's Touch has a portfolio of over 100 different SKU's of frozen fruit, blends, smoothie kits and vegetables, both in conventional and organic spheres. For more information on Nature's Touch, please visit www.naturestouch.ca.

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. To date, the Company has signed fifteen royalty-bearing commercial licenses with various companies, thereby opening up eight distinct market sectors for commercialization. In addition to these fifteen 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, 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.

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 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.

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