March 06, 2014 – EnWave Corporation
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that NutraDried LLP (“NutraDried”), a subsidiary of the Company, signed a broker agreement with Impact Sales Incorporated (“ISI”) to be responsible for securing additional distribution channels for Moon Cheese®, a product created using EnWave’s patented Radiant Energy Vacuum (“REV™”) technology. ISI will focus on securing major accounts with national and regional grocery store chains throughout Northern and Southern California. ISI will also be responsible for developing a national distribution relationship with Kroger’s Head Office, located in Cincinnati.
ISI is one of the most reputable consumer goods brokerage firms in North America, providing representation for their clients through eleven locations situated strategically across the United States. ISI provides more than 500 customers with over 14,000 products. ISI’s intention is to always be on the leading edge, continually investing in the associates and the research to offer creative solutions for their clients.
Currently, Moon Cheese®, a natural, pure cheese snack product, is being sold throughout 192 Kroger locations in the Pacific Northwest, under both Fred Meyer and Quality Food Center banners. Over the past three months, NutraDried has successfully launched Moon Cheese® in this initial market area with positive feedback from customers, stores and distributors. NutraDried has used this feedback and store turnover data to attract ISI distribution interest. To support the next phase NutraDried has evolved its production capabilities from a pilot line, to a small commercial unit and expects to start-up a 100kW nutraREV® plant at their site in Ferndale, Washington in the Spring of 2014. NutraDried’s goal is to secure additional distribution prior to the expected commercial start-up of the 100kW unit.
“By securing ISI’s services they will be actively placing our Moon Cheese® products in front of the most important buyers in the state of California,” stated Mr. Rufino Dee, CFO of NutraDried LLP. “ISI also has a very strong existing relationship with Kroger’s head office.”
“NutraDried’s team continues to illustrate their high level of experience in the consumer food products market,” stated Dr. Tim Durance, Chairman & Co-CEO of EnWave. “There is extremely strong interest in REV™-dried cheese snack products, not only in the United States, but globally; this bodes well for both EnWave and NutraDried in the future.”
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. For more information on Lucid Capital Management please visit www.lucidcapital.com.
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. NutraDried currently produces and sells Moon Cheese® as a healthy, tasty snack in the U.S. market. For more information on Moon Cheese® please visit www.mooncheesesnacks.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. Thus far the Company has signed commercial licenses with Bonduelle, a global leader in the production of vegetables, for the processing of dehydrofrozen vegetables; Hormel Foods Corporation, a major processed meat manufacturer, for the production of healthy dried meat products; Milne Fruit Product, EnWave’s first major licensee, for the production of several dehydrated fruit and vegetable products in the whole, fragmented and powdered form; a leading North American enzyme company, to dehydrate a series of food-related enzymes for their Tier 1 clients; and Napa Mountain Spice Company, to dry high-quality California bay leaves. In addition to these licenses, EnWave has formed a Limited Liability Partnership with Lucid Capital Management to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese® brand.
Also, EnWave has entered into a wide range of research and collaboration agreements with an expanding list of multinational companies. 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 and Co-CEO
For further information:
Mr. Brent Charleton, Vice President, Corporate Affairs at (778) 378-9616
Mr. John McNicol, President & Co-CEO, EnWave Corporation at (604) 601-8524
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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