|By Marketwired .||
|February 4, 2014 09:30 AM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/04/14 -- EnWave Corporation (TSX VENTURE: ENW)(FRANKFURT: E4U) ("EnWave", or the "Company") announced today that the Company has successfully installed a nutraREV® machine for Napa Mountain Spice Company ("Napa Mountain"), a specialty spice company focused on the production of organic bay leaves in Northern California. Napa Mountain has begun using the nutraREV® unit for the processing of their dehydrated spice products. A seasoned spice manufacturer with over thirty years of operational experience, Napa Mountain is known for producing superior-quality products that demand premium market value.
The key product enhancements created by the use of Radiant Energy Vacuum ("REV") technology include an enhanced flavor profile, brighter natural color and the increased preservation of nutritional properties. Napa Mountain is also using REV technology to achieve the highest food safety industry-standards.
Pursuant to the Commercial License signed in September 2013 by both companies, Napa Mountain will pay EnWave a royalty on the wholesale revenue derived from the sale of any products dried using the Company's REV technology. All other terms of the existing Commercial License are confidential.
"This successful machine installation and start-up at Napa Mountain is the first of many machine installations that EnWave hopes to complete in 2014," stated Dr. Tim Durance, Chairman and Co-CEO of EnWave.
"EnWave's REV technology has improved our efficiency, tracking ability and processing protocols; offering even more benefits than originally anticipated," stated Mr. Paul Attard, CEO of Napa Mountain. "Napa Mountain hopes to increase its market share by offering the highest-quality bay leaf products available anywhere in the world with cycle times reduced from one day to less than one hour."
About Napa Mountain
Since 1978 and now in its third family generation, the Napa Mountain family has been producing the finest organic California bay leaves. Napa Mountain grows their spices on over 2,000 acres outside of San Francisco in Northern California. As members of the American Spice Trade Association (ASTA) they are committed to best practices of harvest and production combined with personal artisan care. All of their products are created from organic and sustainable agricultural practices. Napa Mountain has existing business relationships with major consumer spice companies. The company is committed to best practices in the application of technology and protocols for leadership in food safety and product quality. For more information on Napa Mountain, please visit www.napamountain.com.
EnWave Corporation is a Vancouver-based industrial technology company developing commercial applications for its proprietary Radiant Energy Vacuum (REV) dehydration technology. EnWave aims to sign royalty-bearing commercial licenses with leading food and pharmaceutical companies for the use of its revolutionary technology. Thus far the Company has signed commercial licenses with Bonduelle, a global leader in the production of vegetables, for the processing of dehydrofrozen vegetables; Hormel Foods Corporation, a major processed meat manufacturer, for the production of healthy dried meat products; Milne Fruit Product, EnWave's first major licensee, for the production of several dehydrated fruit and vegetable products in the whole, fragmented and powdered form; a leading North American enzyme company, to dehydrate a series of food-related enzymes for their Tier 1 clients; and Napa Mountain Spice Company, to dry high-quality California bay leaves. In addition to these licenses, EnWave has formed a Limited Liability Partnership with Lucid Capital Management to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese® brand.
Also, EnWave has entered into a wide range of research and collaboration agreements with an expanding list of multinational companies, including Nestle, Kellogg's, Grupo Bimbo, Grimmway Farms, Ocean Spray Cranberries, Cherry Central, Sun-Maid Growers, Gay Lea Foods, R.J. Reynolds and Merck. EnWave is introducing REV as a new dehydration standard in the food and biological material sectors: potentially faster and cheaper than freeze drying, with better end product quality than air drying or spray drying.
EnWave currently has six REV platforms: commercial-scale nutraREV® and MIVAP® are used in the food industry to dry fruits, vegetables, meat, herbs and seafood quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour. The Company is also developing powderREV for bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes; quantaREV for continuous, high-volume low-temperature drying of pastes, gels, liquids, or particulates; and bioREV and freezeREV as new methods to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.
Dr. Tim Durance, Chairman & Co-CEO
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 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.