|By Marketwired .||
|July 28, 2014 09:00 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/28/14 -- EnWave Corporation (TSX VENTURE: ENW)(FRANKFURT: E4U) ("EnWave", or the "Company") announced today that the Company has signed a Commercial Royalty-Bearing License (the "License") and a Machine Purchase Order (the "Purchase Order") with Natural Nutrition Limited ("Natural Nutrition"), a fruit processor located in the South American country of Chile. The License grants Natural Nutrition the exclusive right to process blueberry products using the Company's Radiant Energy Vacuum ("REV") dehydration technology and the non-exclusive right to process apple, plum, strawberry, cherry, peach, grape, raspberry and blackberry products. In exchange for these rights, Natural Nutrition has agreed to pay EnWave a royalty on the revenue derived from the sale of the aforementioned products.
Pursuant to the Purchase Order, EnWave will build and install a small commercial-scale nutraREV® machine at Natural Nutrition's facility in the second half of 2014 to support initial market development efforts and commercial production. The License specifies that Natural Nutrition must purchase an additional nutraREV® machine within one year from the commissioning of the first machine and a third within one year from the start-up of the second nutraREV® unit. All remaining details of the License and the Purchase Order are confidential.
About Natural Nutrition Limited
Natural Nutrition is a Chilean company focused on the dehydration of fruit, especially berries and native species of Chile and Patagonia, such as Maquiberry and others. The mission of Natural Nutrition is to process the healthiest raw materials with high nutritional quality from the fields and forests of this region. The combination of using optimal raw materials and appropriate dehydration technology, will allow Natural Nutrition to preserve superior nutritional content, flavor and aroma from the fresh fruits.
REV processing operations will begin in 2015, with projected growth of 50 tons of finished product per year over the next four years, both as whole dried fruit and powder. With the implementation of REV technology, Natural Nutrition aims to position itself as a benchmark and leader in Chile, Latin America and the world for the production of high-quality dried fruit with high nutritional value, supplying the market demand for snack fruit, nutraceuticals and functional ingredients.
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. Thus far the Company has signed ten royalty-bearing licenses, opening up eight distinct market sectors for commercialization with companies that include Bonduelle, a global leader in the production of vegetables; Hormel Foods Corporation, a major processed meat manufacturer in the United States of America; and Sutro Biopharma, a company developing a protein synthesis process for the pharmaceutical industry. In addition to these licenses, EnWave has formed a Limited Liability Partnership, NutraDried LLP, to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese® brand. The Company has also signed a license and manufacturing agreement with NutraDried Creations to market the dried cheese and other REV snack products through private label distribution channels in the United States and Latin America.
EnWave has signed a wide range of research agreements with an expanding list of companies that include Nestle, Kellogg's, Ocean Spray Cranberries, Sun-Maid Growers, R.J. Reynolds and Merck among others. 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 food products quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour. The Company has also commercialized powderREV® for bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point; quantaREV for continuous, high-volume low-temperature drying; 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.
Dr. Tim Durance, President & 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 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.
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.
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
Jul. 29, 2016 02:00 AM EDT Reads: 1,664
Jul. 29, 2016 12:30 AM EDT Reads: 1,678
Jul. 29, 2016 12:15 AM EDT Reads: 1,987
Jul. 29, 2016 12:15 AM EDT Reads: 2,082
Jul. 28, 2016 11:45 PM EDT Reads: 1,219
Jul. 28, 2016 10:15 PM EDT Reads: 1,229
Jul. 28, 2016 10:15 PM EDT Reads: 2,222
Jul. 28, 2016 10:15 PM EDT Reads: 1,438
Jul. 28, 2016 10:00 PM EDT Reads: 1,451
Jul. 28, 2016 10:00 PM EDT Reads: 2,098
Jul. 28, 2016 10:00 PM EDT Reads: 1,724
Jul. 28, 2016 09:00 PM EDT Reads: 2,715
Jul. 28, 2016 07:15 PM EDT Reads: 402
Jul. 28, 2016 07:15 PM EDT Reads: 1,236
"We view the cloud not really as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 28, 2016 06:45 PM EDT Reads: 1,646