EnWave Amends Lease Agreement with Bonduelle to Deliver 120kW quantaREV(R) Machine
25 April 2014 - 3:00PM
Marketwired
EnWave Amends Lease Agreement with Bonduelle to Deliver 120kW
quantaREV(R) Machine
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 25, 2014) -
EnWave Corporation (TSX-VENTURE:ENW)(FRANKFURT:E4U) ("EnWave", or
the "Company") announced today that the Company has amended the
existing Lease Agreement (the "Agreement") with a division of
Bonduelle ("Bonduelle"), the world's leading vegetable producer, to
provide a 120kW quantaREV® machine rather than a 120kW
MIVAP™ plant to create and develop dehydrofrozen ("DHF") vegetables
as part of their business development efforts.
DHF vegetables are partially dehydrated and then quickly frozen.
The purpose of this process is to retain nutritional content,
color, flavor and most importantly texture when cooked from the
frozen state.
Recent advancements made by EnWave's engineering group regarding
the development of the quantaREV® platform has enabled
this change to occur, which will establish an increased synergy for
the overall project and relationship with Bonduelle going forward.
The two companies will concurrently collaborate on the research and
development and on the design of an operational quantaREV®
machine, up to 400kW, for DHF vegetable production with target
finished frozen product capacity of between 3 and 4 tonnes per
hour. The larger quantaREV® machine design is expected to
be completed in 2015 providing Bonduelle with the opportunity to
launch DHF products in a broader way.
"It is Bonduelle's preference to work with the
quantaREV® platform throughout our development process
with EnWave as it is the platform we plan to ultimately use,"
stated Mr. Daniel Vielfaure, Chief Executive Officer of Bonduelle
Americas. "Continued collaboration through the next stage of
development is critical to the ultimate success of our
project."
"The advancement of our quantaREV® technology allows us
to offer an appropriate platform for the next stage of Bonduelle's
project," stated Dr. Tim Durance, Chairman and Co-CEO of EnWave.
"Working with quantaREV® throughout the entire project
should provide opportunities to increase efficiencies and reach a
potentially positive outcome sooner."
About Bonduelle
Bonduelle has a clear goal: to be a nutrition partner for
consumers. It does all it can to encourage people to eat vegetables
by offering a very wide product range which is extensively
available in over 100 countries worldwide. Today the company has
over 80 types of vegetable and has been present since 1998 in four
segments: canned, frozen, fresh and delicatessen salads. Bonduelle
is above all a 'corporate' brand and a family brand. The brand name
is both the name of the company and the name of the founding
family, whose activities began back in the middle of the 19th
Century. Giving the family's name to the product ensures that
consumers immediately identify the product and recognize the name,
Bonduelle. Its Chief Executive Officer, Christophe Bonduelle,
represents the 6th generation of this family business. For more
information on Bonduelle please visit www.bonduelle.com.
About EnWave
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 Food
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 Nestlé, 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.
EnWave Corporation
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.
EnWave CorporationMr. John McNicolPresident & Co-CEO(604)
601-8524john.mcnicol@enwave.netEnWave CorporationMr. Brent
CharletonVice President, Corporate Affairs(778)
378-9616bcharleton@enwave.net
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