EnWave Signs Commercial License Agreement with Kameya Foods and Receives Purchase Order for REV™ Machinery
SEPTEMBER 09, 2019,6:00 AM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) reported today that it has signed a royalty-bearing commercial license agreement (the “License”) with Kameya Foods Corporation (“Kameya Foods”). Established in 1947, Kameya Foods started as a Japanese pickle manufacturing company in Shinshuku, Shimizu-cho. Situated in an agriculturally diverse environment, it has access to a variety of local, high-quality raw materials, which include some of Japan’s best-quality wasabi grown at the edge of Mt. Amagi, fresh vegetables and seafood from Suruga Bay. Under the terms of the License, Kameya Foods purchased a 10kW commercial Radiant Energy Vacuum (“REV™”) machine to initiate commercial production in Japan.
The License grants Kameya Foods the non-exclusive right to process a variety of premium seafood and fruit products, and the exclusive right to process wasabi, tofu and tea products in Japan. REV™ technology is a proven method to create healthy, premium fruit, vegetable and seafood products that can be sold as ingredients or as retail consumer products.
This License is the second signed by EnWave in Japan and further proves the value proposition of REV™ technology as a tool to create innovative, premium food applications.
About Kameya Foods Corporation
Kameya Foods takes an innovative view on new technology and employs a business model where professionals with an advanced vision in the integration of creativity and marketing apply their know-how to bring new premium products to the market. Kameya Foods is committed to generating unique new business ideas that are competitive in today’s marketplace.
Kameya Foods’ innovative and proactive culture, its desire to excel and the constant search for new product opportunities has led it to expand its business using technology. The truly authentic taste, creativity and knowledge has enabled Kameya Foods to produce exceptional products for global markets.
For more information about Kameya Foods, please visit www.kameya-foods.co.jp/en
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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.
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