EnWave Corporation
TSX VENTURE : ENW
FRANKFURT : E4U

EnWave Corporation

October 10, 2012 09:00 ET

EnWave's 2nd Tier 1 Collaborator Initiates Market Evaluation Phase and Expands Target Product Testing Categories

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 10, 2012) - EnWave Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave" or "the Company") announced today that a 2nd Tier 1 collaborator ("the Collaborator") has successfully completed their Research & Development phase and has received internal authorization to conduct a market evaluation. As part of the market evaluation phase, the Collaborator requested approval from EnWave to initiate the market testing of a new product developed using the Company's Radiant Energy Vacuum ("REV") technology. The Company has approved the new product and if the market evaluation is successful, expects to sign a commercial license and secure a plant order by the first half of 2013.

"We are very excited by the progression made with our Tier 1 collaborator towards potential commercialization. This is the 2nd Tier 1 Company to conduct an advanced market evaluation after a successful research phase," stated Dr. Tim Durance, Chairman and Co-CEO, EnWave Corporation. "Positive results from this market evaluation should help EnWave achieve its goal of building an order book and royalty stream under a long term license agreement with a significant multi-national partner."

About EnWave

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, Cherry Central, Sun-Maid Growers 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 and at low-cost, 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.

EnWave Corporation

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.

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.

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