VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 7, 2011) - EnWave Corporation (TSX VENTURE:ENW.V - News)(FRANKFURT:E4U.F - News) ("EnWave", or the "Company") announced today that the Company has mutually discontinued an ongoing research and development collaboration to test EnWave's powderREV(TM) pilot-scale dehydration technology with Danisco AS ("Danisco"). The pilot machine has not yet achieved all project targets and would require some equipment modifications and further testing resulting in a longer development path. Both companies agreed that in light of other priorities they would discontinue their collaboration.
"EnWave's collaboration with Danisco has been beneficial to the development of our powderREV(TM) technology," stated Dr. Tim Durance, Chairman & Co-CEO, EnWave. "We will now leverage that development to attract other interest in the food and pharmaceutical areas, while intensifying our focus to reach commercial agreements with other current partners."
EnWave Corporation is a Vancouver-based industrial technology company developing commercial applications for its proprietary Radiant Energy Vacuum (REV) dehydration technology. In collaboration with an expanding list of multinational partners, including Nestle, Kellogg's, Grupo Bimbo, Grimmway Farms, Bonduelle and Ocean Spray, 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(TM) and MIVAP(TM) 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(TM) for bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes; quantaREV(TM) for continuous, high-volume low-temperature drying of pastes, gels, liquids, or particulates; and bioREV(TM) and freezeREV(TM) 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 financial results are forward-looking statements. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. There is no guarantee that the Company's REV technology can or will improve processes in the target industry; even if the Company's REV technology can be used as described in this document, there is no guarantee that such use will result in orders for the Company's REV technology.
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.Contacts
Mr. John McNicol
President & Co-CEO
Mr. Brent Charleton
Director of Marketing & Corporate Affairs