EnWave Signs Commercial License Agreement with Fresh Business Consulting and Receives Purchase Order for REV™ Machinery
VANCOUVER, British Columbia, April 10, 2019 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company") reported today that it has signed a royalty-bearing commercial license agreement (the “Agreement”) with Fresh Business Consulting S.L. (“Fresh Business”). Fresh Business is part of a diversified investment and consulting firm that has business interests in Spain (headquarters), the United Kingdom and Peru. Fresh Business also submitted a purchase order for a small-scale commercial Radiant Energy Vacuum (“REV™”) machine to initiate commercial production in Peru.
The Agreement grants Fresh Business the exclusive rights to produce a variety of premium food products in Peru. By processing in Peru, Fresh Business is well positioned to take advantage of the diverse, locally grown agricultural products while utilizing EnWave’s proprietary REV™ technology to create value-added products for export into western markets. REV™ technology is a proven method to create healthy, premium fruit and vegetable products that can be sold as ingredients or as retail consumer products. This Agreement further validates the value proposition for EnWave’s technology to drive innovation in the global fruit and vegetable market vertical.
Fresh Business must commit to purchasing a second EnWave machine of 100kW or greater in rated power before July 31, 2019 in order to retain its exclusivity under the Agreement. Fresh Business and EnWave have also agreed to a coordinated joint effort to secure additional commercial licenses for EnWave’s technology in Peru. The other terms of the Agreement remain confidential.
About Fresh Business Consulting 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. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products.
REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors including legal cannabis. 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 nine distinct market sectors for commercialization of new and innovative products. In addition to these licenses, EnWave has formed a Limited Liability Corporation, NutraDried Food Company, LLC, 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.
Mr. Brent Charleton, CFA
President and CEO
For further information:
Brent Charleton, CFA , President and CEO at +1 (778) 378-9616
John P.A. Budreski, Executive Chairman at +1 (416) 930-0914
Deborah Honig, Corporate Development 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.