EnWave Receives Purchase Order for Third Small-Scale REV™ Machine from Bare Foods Co.
OCT 4TH 2018, 06:00AM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed a third equipment purchase agreement (the “Agreement”) with Bare Foods Co. d.b.a. Bare Snacks. The equipment purchase is governed by Bare Snacks’ existing license and royalty agreement with EnWave.
Pursuant to the Agreement, Bare Snacks has purchased a third, small commercial-scale Radiant Energy Vacuum (“REV™”) machine to increase processing capacity in order to fill the increasing market demand for its REV™- dried snack products. The third equipment purchase by Bare Snacks confirms the growing commercial acceptance of EnWave’s REV™ technology in the rapidly-growing “better for you” snacking vertical of the consumer-packaged goods sector.
About Bare Foods Co. d.b.a. Bare Snacks®
Bare Snacks is the creator of delicious Snacks Gone Simple®, including bare® Apple Chips, Banana Chips, Coconut Chips, and new Beet Chips, Carrot Chips, and Sweet Potato Chips. Crafted using only real, whole-food ingredients, bare products help consumers enjoy truly good-for-you snacking any time of day. Bare Snacks is on a mission to create a snacking revolution nationwide, motivated by a founding philosophy of creating delicious snacks with simple ingredients and nothing artificial ever. To learn more, please visit www.BareSnacks.com, follow us on Twitter, Instagram, or Pinterest, or ‘Like’ us on Facebook.
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. 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.
EnWave Corporation
Dr. Tim Durance
President & CEO
For further information:
John Budreski, Executive Chairman at +1 (416) 930-0914
E-mail: jbudreski@enwave.net
Brent Charleton, Senior Vice President, Sales and Business Development at +1 (778) 378-9616
E-mail: bcharleton@enwave.net
Deborah Honig, Corporate Development, Adelaide Capital Markets at + 1 (647) 203-8793
E-mail: dhonig@enwave.net
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