EnWave Enhances Global Installation Capabilities and Completes Successful Remote Commissioning of 10kW Machine with Icelandic Partner
VANCOUVER, British Columbia, May 27, 2020 (GLOBE NEWSWIRE) — EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”), announced today that it has successfully completed its first remote installation and start-up of a 10kW Radiant Energy Vacuum (“REV™”) dehydration machine. In response to the global COVID-19 pandemic, and restrictions placed on international travel, the Company quickly developed procedures and digital training assets to assist its licensed partners with remotely supervised installation and commissioning of 10kW REV™ machines.
Earlier this month, the Company’s licensed partner Responsible Foods of Iceland, skillfully collaborated with the EnWave’s engineering department to commission its 10kW REV™ machine, EnWave’s first successful remote commissioning. This is a critical capability to support the commercial efforts of EnWave’s current and future partners, and will allow the Company to continue the global deployment of its proprietary REV™ technology without putting the health and safety of technical staff at risk.EnWave’s remote installation program includes a series of detailed installation videos, live video partner training sessions and ongoing support from the Company’s technical staff and REV™ experts. EnWave is optimistic that the successful commissioning of Responsible Foods’ machine can be replicated with other partners wishing to expedite product development and commercial efforts during the COVID-19 pandemic.The remote installation program also allows EnWave to develop new business while the ability to travel internationally remains restricted. Companies that sign Technology Evaluation and License Option Agreements (“TELOA”) or Commercial License Agreements (“CLA”) are now able to move forward with the installation of machinery and can continue to integrate REV™ technology into their production facilities.Many companies in the food sector are looking to secure new revenue streams or to pivot from fresh food to shelf-stable alternatives. REV™ technology provides these companies with an option for prolonged shelf-life of their products by converting them into high-quality dried snacks and ingredients. Food waste has been a prominent issue facing the food industry during this pandemic. EnWave is well positioned to help companies realize commercially viable product alternatives to complement their fresh offerings. EnWave has a long-standing history of providing product development and process optimization services remotely to its international partners. The Company is committed to ensuring the safety of its employees and its partners while providing exemplary service and support.About EnWave
EnWave Corporation, a Canadian advanced technology company, has developed Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patented 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 innovative, disruptive companies in multiple verticals for the use of REV™ technology. The company has signed over thirty royalty-bearing licenses to date. In addition to these licenses, EnWave established a Limited Liability Corporation, NutraDried Food Company, LLC, to manufacture, market and sell all-natural dairy snack products in the United States, including the Moon Cheese® brand. EnWave has introduced REV™ as a disruptive dehydration platform in the food and cannabis sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently offers two distinct commercial REV™ platforms:nutraREV® which is a drum-based system that dehydrates organic materials quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour; and,quantaREV® which is a tray-based system used for continuous, high-volume low-temperature drying.EnWave is also active in the pharmaceutical industry through a joint development agreement with GEA Lyophil, a leader in GMP drying machinery. More information about EnWave is available at www.enwave.net.
EnWave CorporationMr. Brent Charleton, CFA
President and CEOFor further information:Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: [email protected]Dan Henriques, CA, CPA, Chief Financial Officer at +1 (604) 835-5212
E-mail: [email protected]
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