EnWave Receives Deposit from Consulting Fresh Business S.L. for Large-Scale Radiant Energy Vacuum Equipment
JULY 30, 2019,6:00 AM
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.
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;
2. powderREV® which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point, and
3. 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.
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
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