SOURCE: EnWave Corporation

EnWave Corporation

August 14, 2015 09:00 ET

EnWave Subsidiary, NutraDried LLP, Signs Master Supply and Distribution Agreement With Spire Enterprises Inc.

VANCOUVER, BC--(Marketwired - August 14, 2015) - EnWave Corporation (TSX VENTURE: ENW) (FRANKFURT: E4U) ("EnWave", or the "Company") is pleased to announce that NutraDried LLP ("NutraDried"), a 51% owned subsidiary of the Company, has signed a Master Supply and Distribution Agreement ("MDA") with Spire Enterprises Inc. ("Spire") to broaden and accelerate the development, marketing, distribution and sales of NutraDried's product portfolio comprised of several healthy REV™-dried snack products, including, but not limited to the dried cheese snacks under the Moon Cheese® brand. The MDA, which prescribes minimum quarterly purchase commitments, appoints Spire as NutraDried's sole distributor within the United States of America ("Territory").

Spire's management team includes former senior Pepsi bottling executives with domestic and international expertise in marketing, distribution and sales activities. Spire will leverage its network of distribution relationships, including, but not limited to, Pepsi bottling distributors throughout the Territory, to aggressively market NutraDried's product portfolio.

Additionally, Spire intends to develop, market, distribute and sell several new REV™-dried snack products to be toll-manufactured by NutraDried in the near future. Each new product will be evaluated and approved on a case-by-case basis by EnWave with any subsequent royalty-bearing commercial license issued by EnWave requiring minimum purchase commitments to NutraDried.

About Spire Enterprises Inc.
Spire is a Washington-based national brand development and distribution management company focused on the healthy snack and beverage categories. Through its partnership with NutraDried, Spire will build a portfolio of healthy snack products differentiated from competition by the REV™ technology which enhances a product's taste and quality while minimizing undesired product denaturation.

About NutraDried LLP
NutraDried LLP is a joint partnership owned by EnWave USA Corporation and ND Creations. EnWave USA Corporation was established as a subsidiary in the State of Delaware by EnWave Corporation to facilitate this partnership. NutraDried LLP intends to develop and distribute numerous healthy snacking options throughout North America over the coming years. By using EnWave's proprietary REV™ technology, NutraDried can produce all-natural products with attractive colors, excellent flavor and high nutritional content; characteristics valued by many consumers. The LLP currently produces and sells Moon Cheese® as a healthy, tasty snack in the North American market. For more information on Moon Cheese® please visit www.mooncheesesnacks.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. 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 two new commercial REV™ platforms:

  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.
  2. bioREV®(pharmaceutical applications): a single-vial prototype technology designed to produce room-temperature stable vaccines and antibodies requiring less refrigeration.

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