EnWave Signs Agency Agreement with CD Process LLC
EnWave Signs Agency Agreement with CD Process LLC
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/05/13 -- EnWave Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave", or the "Company") announced today that it has signed an Agency Agreement (the "Agreement") with CD Process LLC ("CD"), a North American-based technology company that addresses the ingredient processing requirements of the global food industry. This Agreement broadens EnWave's sales network for Radiant Energy Vacuum ("REV(TM)") technology by partnering with a business entity comprised of several food industry veterans that have extensive technology, research & development and sales & marketing expertise. Furthermore, due to a very close working relationship with EnWave, CD's key personnel have a high level of experience and proficiency working with REV(TM) technology.
CD will actively pursue commercial opportunities for REV(TM) technology by utilizing their existing network of food industry contacts. They also have access to nutraREV(R) technology to conduct product development work for a number of potential clients throughout the United States of America. The end goal of CD is to eventually establish a centralized toll processing facility, including licensed REV(TM) technology for specific applications, to service a number of clients in the food and nutraceutical industries. All other details of the Agreement are confidential.
"The management of CD Process is extremely qualified to work as an extension of our business development efforts," stated Dr. Tim Durance, Chairman and Co-CEO of EnWave. "It is EnWave's immediate goal to significantly increase its agent and sales network in order to increase the commercialization of REV(TM) technology in several established market sectors including meat, cheese, fruit, vegetables, enzymes and spice product areas."
About CD Process LLC
Based in the Midwest of the United States of America, CD Process is a food processing company set up to serve the ingredient processing requirements of the food industry. With their proprietary technologies they can dehydrate and, if required, can particle size reduce food ingredients whilst retaining a high nutritional content within the ingredients. This is achieved because they can dehydrate at lower temperatures than conventional methods. Their technologies can also produce unique textures not possible through traditional methods. For more information on CD Process please visit www.cdprocess.com.
EnWave Corporation is a Vancouver-based industrial technology company developing commercial applications for its proprietary Radiant Energy Vacuum (REV(TM)) dehydration technology. In June 2013, Hormel Foods Corporation signed a royalty-bearing commercial license to use REV(TM) technology for the production of a number of products. 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. Lastly, 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, 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.
Dr. Tim Durance, Chairman & Co-CEO
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