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.
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.
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