EnWave Signs Commercial License with Hormel Foods Corporation

EnWave Signs Commercial License with Hormel Foods Corporation 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/28/13 -- EnWave
Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave" or the
"Company") is pleased to announce it has signed a royalty-bearing
Commercial License (the "License") with Hormel Foods Corporation
("Hormel Foods"), a Fortune 500 company, to enable the production and
sale of specific products dehydrated with the Company's Radiant
Energy Vacuum ("REV(TM)") technology.  
Under the License, EnWave and Hormel Foods have agreed to long-term
royalty rates, broader global market rights and the use of EnWave's
nutraDRIED(TM) trademark on the retail packaging of products from
Hormel Foods. Other terms of the License will remain confidential. 
To support on-going testing, EnWave is leasing Hormel Foods a large
pilot-scale nutraREV(R) production unit expected to be fully
operational in the summer of 2013. Based on successful test efforts,
Hormel Foods and EnWave have agreed on general commercial equipment
designs and financial terms with plans to place a commercial-scale
equipment order by the first half of 2014. 
"The planned product launch by Hormel Foods represents another
important market segment opportunity for our REV(TM) technology,"
stated Dr. Tim Durance, Chairman and Co-CEO of EnWave. "We believe
that the marketing and distribution scale of Hormel Foods will enable
these new products to have a very good chance for long-term
commercial success on a global basis." 
"EnWave's REV(TM) technology has allowed Hormel Foods to create a
number of unique products that deliver great flavor and retain high
nutritional value," stated Mr. Scott Aakre, Vice President, Corporate
Innovation and New Product Development for Hormel Foods.  
About Hormel Foods  
Hormel Foods Corporation, based in Austin, Minn., U.S.A., is a
multinational manufacturer and marketer of consumer-branded food and
meat products, many of which are among the best known and trusted in
the food industry. The company leverages its extensive expertise,
innovation and high competencies in pork and turkey processing and
marketing to bring branded, value-added products to the global
marketplace. The company is a member of the Standard & Poor's (S&P)
500 Index, S&P Dividend Aris
tocrats for 2012, Maplecroft Climate
Innovation Indexes, Global 1000 Sustainable Performance Leaders and
was again named one of "The 100 Best Corporate Citizens" by Corporate
Responsibility Magazine for the fifth year in a row. Hormel Foods
debuted on the G.I. Jobs magazine list of America's Top 100 Military
Friendly Employers in 2012. The company enjoys a strong reputation
among consumers, retail grocers, foodservice and industrial customers
for products highly regarded for quality, taste, nutrition,
convenience and value. For more information, visit
About EnWave  
EnWave Corporation is a Vancouver-based industrial technology company
developing commercial applications for its proprietary Radiant Energy
Vacuum (REV(TM)) dehydration technology. Recently, EnWave formed a
Limited Liability Partnership with Lucid Capital Management to
develop, manufacture, market and sell all-natural cheese snack
products in the United States. Also, the Company has licensed REV(TM)
technology to a leading North American enzyme company to begin
dehydrating a series of food-related enzymes for their Tier 1
customers. Additionally, the company licensed REV(TM) technology to
Milne Fruit Products Inc in 2011, its first major U.S. customer, to
support a launch of healthy berry snacks and powders across most
major markets in North America. EnWave has entered into a wide range
of research and collaboration agreements with an expanding list of
multinational companies, including Nestle, Kellogg's, Grupo Bimbo,
Grimmway Farms, Ocean Spray Cranberries, Hormel, Bonduelle, Cherry
Central, Sun-Maid Growers, Gay Lea Foods and Merck. EnWave is
introducing REV(TM) 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(TM) platforms: commercial-scale
nutraREV(R) and MIVAP(R) 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. 
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
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 Corporation
Mr. John McNicol
President & Co-CEO
EnWave Corporation
Mr. Brent Charleton
Vice President, Corporate Affairs
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