EnWave Signs Commercial Royalty-Bearing License With Kesito LLC, Receives Purchase Order for Radiant Energy Vacuum MachineryThursday, June 16, 2016
Vancouver, BC, June 16, 2016--(T-Net)--EnWave Corporation (TSX VENTURE: ENW)(E4U.F) today announced that it has signed a royalty-bearing Commercial License Agreement (the "CLA") with Kesito LLC, a company specializing in healthy snack production and global distribution.
The CLA grants Kesito the right to use EnWave's Radiant Energy Vacuum ("REV™") technology exclusively in the country of Greece for the production of dried cheese snack products. This CLA is the eighth license granted by the Company to use REV™ technology for the production of cheese products and the third confirmed commercial European partner.
Pursuant to the CLA, Kesito has submitted a purchase order for a commercial REV™ machine, which will allow Kesito to complete product development and initially enter the European market with a high-quality, shelf-stable dried cheese snack product.
About Kesito LLC
Kesito LLC is a Miami, Florida based company specialized in providing innovative snacks to consumers looking for convenience and healthy lifestyles. Kesito's co-founders Cetin Amato and Antonio Ellek have created and commercialized a number of healthy grab-and-go snacks including olives, natural spreads, and quinoa salads through a number of different food brands. These snack products are sold distributed to major retailers and airlines in over 14 countries in North America, Europe, and Middle-East through Milas Foods and Oloves. Kesito, which has secured its exclusive rights to create new products with the Greek cheeses, is currently working with EnWave and its various licensees in various markets to develop new products to be sold in global markets. Kesito's products, which will be part of "I love snacking" portfolio of independent brands, will be found underwww.ILOVESNACKING.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. To date, the Company has signed seventeen royalty-bearing commercial licenses with various companies, thereby opening up eight distinct market sectors for commercialization. In addition to these seventeen licenses, EnWave has formed a Limited Liability Partnership, NutraDried LLP, to develop, manufacture, market and sell all-natural cheese snack products within the United States of America under the Moon Cheese® brand.
EnWave is introducing REV™ technology as a new dehydration standard in the food and biological material sectors, with benefits including, but not limited to, a faster and cheaper method compared to freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:
1. nutraREV® (food industry applications): designed for quick, low-cost dehydration of fruits, vegetables, herbs, dairy products, meats and seafood, with benefits including improved nutritional content, appearance, flavor and texture relative to conventional methods.
2. quantaREV® (food industry applications): designed for high-volume, low-temperature dehydration of solids, liquids, granular or encapsulated products.
3. powderREV® (pharmaceutical applications): designed as a high-speed, lower-energy, continuous alternative to freeze drying for bulk dehydration of temperature-sensitive biomaterials (bacteria, cell-free extracts, enzymes, probiotics, food cultures, etc.).
In addition, EnWave is currently developing a new commercial REV™ platform:
1. freezeREV® (pharmaceutical applications): a multi-vial prototype technology designed to act as an accelerated freeze dryer to produce room-temperature stable biopharmaceuticals and reagents.
More information about EnWave is available at www.enwave.net.
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 claims referred to in this release are not guaranteed to be accurate. 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.
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