VANCOUVER, British Columbia, July 30, 2019 (GLOBE NEWSWIRE) --
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) reports today that the Company has received a non-refundable USD$100,000 deposit from Consulting Fresh Business S.L. (“Fresh Business”) towards the purchase of Radiant Energy Vacuum (“REV™”) machinery with a minimum of 100kW in rated power. In April 2019, Fresh Business purchased a small-scale commercial REV™ machine and signed an exclusive license to use EnWave’s REV™ technology in the country of Peru for the dehydration of numerous food materials. Fresh Business has begun selling REV™-dried products commercially.
Fresh Business continues to put forth significant product and market development efforts to identify which REV™-dried applications will support the strongest long-term business case. EnWave offers two primary REV™ machine designs – nutraREV® and quantaREV® equipment. Each machine design offers similar processing efficiencies, however the handling of the food material as it passes through each respective vacuum-microwave chamber differs. In specific cases, one platform may be more appropriate than the other. Fresh Business intends to procure either a 100kW nutraREV®, 120kW quantaREV® or a combination of two 60kW machines (one nutraREV® and one quantaREV®) within the 2019 calendar year to expand production capacity.
About Consulting Fresh Business S.L.
Fresh Business employs a business model where professionals with an advanced vision in the integration of creativity, marketing and innovation apply their know-how to improve their clients’ business strategy. Fresh Business is committed to uniquely generating new business ideas that are competitive in today’s marketplace.
Fresh Business’ positive and proactive attitude, their desire to excel and the constant search for new challenges, led them to expand their business, developing a new division, Fresh Business Food & Nutrition Innovation, focused on the agri-food industry. Fresh Business Food & Nutrition Innovation, has its own approach to connect creativity, knowledge, technology and marketing to create, incubate and develop innovative food businesses with an international vocation.
For more information about Fresh Business Consulting S.L. please visit www.freshgroup.es and www.freshbusiness.es.
About EnWave
EnWave Corporation, a Vancouver-based advanced technology company, has developed Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products.
REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors including legal cannabis. EnWave’s strategy is to sign royalty-bearing commercial licenses with industry leaders in multiple verticals for the use of REV™ technology. The company has signed over twenty royalty-bearing licenses to date, opening up nine distinct market sectors for commercialization of new and innovative products. In addition to these licenses, EnWave has formed a Limited Liability Corporation, NutraDried Food Company, LLC, to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese® brand.
EnWave has introduced REV™ as the new dehydration standard in the food and biological material sectors: 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® which 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® which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point, and
- quantaREV® which is used for continuous, high-volume low-temperature drying.
An additional platform, freezeREV®, is being developed as a new method to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.
EnWave Corporation
Mr. Brent Charleton, CFA
President and CEO
For further information:
Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net
Dan Henriques, CPA, CA, Chief Financial Officer at +1 (604) 835-5212
E-mail: dhenriques@enwave.net
Deborah Honig, Corporate Development at + 1 (647) 203-8793
E-mail: dhonig@enwave.net
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.
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