EnWave Announces Appointment of Mr. Patrick Turpin to its Board of Directors
FEBRUARY 12, 2020, 6:00 AM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”), announced today the appointment of Mr. Patrick Turpin to the Company’s Board of Directors. Patrick was a co-founder of Popchips, Inc (“Popchips”) and is a seasoned veteran of the consumer packaged goods industry. His addition will broaden and strengthen the skillset of the EnWave team to include a wealth of experience and leadership in the better-for-you segment of the snacking vertical.
Patrick Turpin is an accomplished senior executive who has successfully concepted and launched several revenue-generating retail channel businesses and brands. He has close to 30 years of experience leading consumer packaged goods organizations across multiple areas of the value chain. In addition to co-founding Popchips, he was also a senior executive at Costco Wholesale where he led multiple strategic initiatives, including launching Costco’s gas station business and Costco’s Executive Membership division. Patrick also managed Costco’s vertically integrated, private-label snack and confection packaging business.
With the addition of Patrick Turpin, EnWave’s Board now consists of five independent directors and two non-independent directors. The two non-independent directors are John Budreski, Executive Chairman, and Brent Charleton, Chief Executive Officer. EnWave welcomes Patrick to the Board and the experience he brings is anticipated to add tremendous value to the Company’s strategic initiatives, including the rapid expansion of its better-for-you Moon Cheese® snack brand.
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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. REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, legal cannabis and pharmaceutical sectors. 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 eight distinct market sectors for commercialization of new and innovative products. 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.
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:
1. 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; and
2. quantaREV® which is used for continuous, high-volume low-temperature drying.
More information about EnWave is available at www.enwave.net.
Dr. Tim Durance
President & CEO
For further information:
John Budreski, Executive Chairman at +1 (416) 930-0914
Brent Charleton, Senior Vice President, Sales and Business Development at +1 (778) 378-9616
Deborah Honig, Corporate Development, Adelaide Capital Markets at + 1 (647) 203-8793
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.
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