EnWave Receives Purchase Order for Third 120kW REVTM Machine from Milne Fruit Products
DEC 18TH 2018, 06:00AM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed an Equipment Purchase Agreement (the “EPA”) with Milne Fruit Products d.b.a. Milne MicroDried Inc. (“Milne”) to provide Milne with its third 120kW Radiant Energy Vacuum (“REV™”) machine for the production of an extensive portfolio of dried vegetable and fruit applications. The EPA also confirms Milne’s exclusive right to produce REV™-dried strawberries and blueberries in the United States of America. Additionally, EnWave and Milne amended the existing commercial license agreement to include prickly pear and table grapes in their MicroDried® product portfolio.
Not all dried fruits and vegetables are created equal. Milne, a family-owned, vertically integrated, proven leader in the fruit and vegetable ingredient and snack industry, has chosen to use REV™ technology in order to differentiate themselves from the status quo. Milne MicroDried® ingredients are 100% all-natural, high quality dried fruit and vegetables that are rich in nutritional values and health benefits – retaining higher levels of polyphenols than other commercial drying processes. MicroDried® products bring real fruit color, flavor and enhanced nutritional values to consumer products. These fruit and vegetable ingredients come in whole pieces and fragments in chewy and crunchy textures, and coarse or fine grind powders for different applications.
About Milne MicroDried
Milne MicroDried® is committed to creating innovative solutions and healthier ingredients for international, national and regional food, beverage and nutraceutical manufacturers. This includes bringing new fruit and vegetable varieties with no added colors, sugars or preservatives to market and customizing ingredient characteristics to meet customer specifications.
Milne MicroDried is increasing its capacity to meet the industrial ingredient needs of customers by adding a third REV™ dryer line to its Nampa, Idaho plant. As part of its commitment to the industrial food industry, Milne MicroDried is dedicated to responsive customer service and finding innovative solutions for new product applications.
For more information about Milne MicroDried please visit www.milnemicrodried.com.
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
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.
All Blog Financials News Press Release