EnWave Signs Commercial Royalty-Bearing License with Van Dyk Specialty Products Ltd., Receives Purchase Order
Marketwired
VANCOUVER, BC--(Marketwired - January 23, 2017) - EnWave Corporation (TSX VENTURE: ENW)(E4U.F)("EnWave", or the "Company") announced today that it has signed a Commercial Royalty-Bearing License (the "License") with Van Dyk Specialty Products Ltd. ("Van Dyk"), a major Canadian producer of wild blueberry products. Van Dyk also submitted a purchase order for EnWave to deliver a large-scale 60kW Radiant Energy Vacuum ("REV™") machine.
The 60kW nutraREV® machine is scheduled for installation in the second half of 2017 at a new food-grade facility built by Van Dyk in Nova Scotia, Canada. The License grants Van Dyk certain exclusivity for the production of wild blueberry products using REV™ technology. Van Dyk will pay EnWave a royalty on the wholesale value of the finished products when sold. EnWave's nutraREV® technology will enable Van Dyk to produce healthy, flavorful wild blueberry products that are rich in antioxidants.
Van Dyk has been growing and harvesting wild blueberries in Nova Scotia, Canada for over forty years. They have a high level of experience in the food industry and distribution relationships throughout North America, Europe and Asia. Van Dyk's showcase product is a wild blueberry juice containing only one ingredient: Canada Grade "A" wild Nova Scotia blueberries. Van Dyk aims to expand their product offering by developing a number of dry, all-natural, healthy wild blueberry products using EnWave's REV™ technology.
This is EnWave's eighteenth commercial royalty-bearing license; the seventh for the processing of fruits and vegetables. EnWave's technology licensing business model continues to gain momentum with each additional commercial partner agreeing to pay long term royalties for the use of the Company's innovative and economical REV™ machinery.
About Van Dyk Blueberries Ltd. Casey and Henrica Van Dyk and their family have been harvesting wild blueberries in Nova Scotia, Canada, for almost 40 years. In the mid-90s, they began thinking about a convenient way for their customers to benefit from the incredible nutrition and health benefits of wild blueberries all year round. The task of producing a high-quality juice began.
The Van Dyks' goal was to produce a juice that consistently retains the health properties of fresh blueberries and is also safe and shelf-stable. By partnering with a team of agricultural scientists, they were able to develop a proprietary process for pure wild blueberry juice production that delivers exceptional quality, purity, and taste.
Through independent testing, the Van Dyks' have been able to prove their juice retains a high level of antioxidant activity from the original fruit. Van Dyk is now focused on providing the market with high-quality dried products to complement their successful juice product. For more information please visit www.vandykblueberries.ca.
About EnWave 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 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 eighteen 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;
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.
EnWave Corporation Dr. Tim Durance President & CEO
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