Press release from Marketwire
EnWave Announces Successful Commercial Plant Start-Up and Scheduled Cheese Snack Launch by NutraDried LLP
Wednesday, July 24, 2013
EnWave Announces Successful Commercial Plant Start-Up and Scheduled Cheese Snack Launch by NutraDried LLP09:00 EDT Wednesday, July 24, 2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 24, 2013) - EnWave Corporation (TSX VENTURE:ENW) (FRANKFURT:E4U) ("EnWave", or the "Company") announced today that NutraDried LLP ("NutraDried"), a joint partnership formed between the Company and Lucid Capital Management ("Lucid"), has begun commercial production on a Radiant Energy Vacuum ("REV™") plant in Washington State for the manufacture of 100% all-natural dried cheese snack products.
Earlier this month, EnWave successfully installed a 20kW commercial-scale nutraREV® machine at NutraDried's facility in Blaine, Washington to produce saleable product for a scheduled test-launch in September, 2013. The test-launch will take place throughout the Pacific Northwest in the United States of America via a number of carefully selected distribution channels. A 100kW commercial nutraREV® plant is expected to be installed at the same site in Q1 2014 by Hans Binder Maschinenbau GmbH ("Binder"), a German machine building subsidiary of EnWave, to increase the capacity of NutraDried's operations. If the test-launch is successful, NutraDried will increase its distribution across the U.S. in select markets following the larger plant installation.
NutraDried will be marketing their healthy, crunchy, 100% natural cheese product line under their newly developed Moon Cheese® brand. Moon Cheese®, which is calcium-rich, high in protein and gluten-free, will initially be available in three flavors; American Cheddar, Pepper Jack and Gouda. The packaging, marketing and launch strategy for Moon Cheese® have all been completed by key employees that used to work for Brookside Foods Ltd. ("Brookside"), which was sold to Hershey Company in January 2012. The official Moon Cheese® website is set to be unveiled in conjunction with the test-launch in late September. Please visit the site, www.mooncheesesnacks.com, at that time.
NutraDried's plant start-up and planned launch continues to build on the strong commercialization momentum that EnWave has built over the past year. The Company now has five market segments that should be commercial in the next 12 months, including dried cheese snacks, dried meat snacks, dehydrated food enzymes, dried fruit products and dried vegetable products. Furthermore, the interest in REV™-dried cheese has increased substantially since the announcement of NutraDried LLP.
"The initiation of NutraDried's commercial production is the first step to building royalties in the dried cheese market segment," stated Dr. Tim Durance, Chairman and Co-CEO of EnWave. "EnWave is very optimistic about the potential of the Moon Cheese® brand, especially when we have such experienced employees spearheading NutraDried's efforts."
"Moon Cheese is set to land in select retailers over the next year, providing consumers with a new, delicious, healthy snacking choice," stated Mr. Rufino Dee, CFO at NutraDried LLP. "EnWave's REV™ technology has enabled NutraDried to produce a number of very unique products that we believe could generate significant interest in the savory snacking market segment."
About NutraDried LLP
NutraDried LLP is a joint partnership owned by EnWave USA Corporation and Lucid Capital Management. EnWave USA Corporation was established as a subsidiary in the State of Delaware by EnWave Corporation to facilitate this partnership with Lucid. Lucid is part of the Wiebco Group of Companies controlled by the parent company Wiebco Investments Ltd., which is a private holding and management company controlled by J. Hugh Wiebe and his family. Mr. Wiebe has been a Director of EnWave Corporation since December 2010. Mr. Wiebe was formerly a shareholder and Chairman of the Board of Brookside. During his time with Brookside, Mr. Wiebe helped build a highly recognized national chocolate brand through an extensive U.S. retail distribution network.
NutraDried LLP intends to develop and distribute numerous healthy snacking options throughout the U.S. over the coming years. By using EnWave's proprietary REV™ technology, they can produce all-natural products with attractive colors, excellent flavor and high nutritional content; characteristics valued by many consumers.
EnWave Corporation is a Vancouver-based industrial technology company developing commercial applications for its proprietary Radiant Energy Vacuum (REV™) dehydration technology. In June 2013, Hormel Foods Corporation signed a royalty-bearing commercial license to use REV™ 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™ 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™ 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 Nestlé, Kellogg's, Grupo Bimbo, Grimmway Farms, Ocean Spray Cranberries, Bonduelle, Cherry Central, Sun-Maid Growers, Gay Lea Foods, Nuvi Fruits SA, NDH Retail B.V. and Merck. 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® and MIVAP® 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™ for bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes; quantaREV™ for continuous, high-volume low-temperature drying of pastes, gels, liquids, or particulates; and bioREV™ and freezeREV™ 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 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 statements.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Mr. John McNicol
President & Co-CEO
Mr. Brent Charleton
Vice President, Corporate Affairs