EnWave Corporation Signs Research and Development Agreement With Nestle SA
Published: Jul 27, 2010
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 26, 2010) - EnWave Corporation (TSX VENTURE: ENW)(FRANKFURT: E4U) ("EnWave" or "the Company") today announced that the Company has signed a Research and Development Agreement ("the Agreement") with Nestec Ltd., a subsidiary of Nestle S.A. of Vevey, Switzerland. The Agreement involves EnWave's nutraREV™ food dehydration technology.
Terms of the agreement are confidential.
"I am extremely pleased to be working with the world's largest food and beverage company," stated Dr. Tim Durance, Chairman & Co-CEO of EnWave. "Nestle is well known as a leader in innovation, early technology adoption, and open innovation."
EnWave's nutraREV™ technology offers continuous high-speed drying in a low temperature vacuum environment.
About Nestle S.A.
With sales of CHF 108 billion in 2009, Nestle is the world's leading nutrition, health and wellness company. Founded in 1866 in Switzerland, the company now employs more than 280,000 people and has factories in 83 countries.
Using proprietary technologies developed in conjunction with the University of British Columbia, EnWave is commercializing a new method for dehydrating food and biological materials using Radiant Energy Vacuum technology under its nutraREV™, powderREV™, bioREV™ and freezeREV™ brands. REV technology combines microwave energy transfer under vacuum to dehydrate and alter structures and drive chemical reactions, thereby creating unique product characteristics for both food products and medical applications that include fruit, vegetables, probiotics, enzymes, proteins, food cultures, 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. All figures comparing REV technologies to freeze drying or other dehydration technologies are provided as examples of data obtained through the Company's own scientific and testing programs; each product must be tested individually to determine the benefits of using REV.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein. 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.
Mr. John McNicol
President & Co-CEO
V.P. Corporate Development & Investor Relations