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EnWave Signs Commercial License and
Receives Machine Purchase Order from Chilean Fruit Processor
Vancouver B.C., July 28th, 2014
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company") announced today that the Company has signed a Commercial Royalty-Bearing License (the “License”) and a Machine Purchase Order (the “Purchase Order”) with Natural Nutrition Limited (“Natural Nutrition”), a fruit processor located in the South American country of Chile. The License grants Natural Nutrition the exclusive right to process blueberry products using the Company’s Radiant Energy Vacuum (“REV™”) dehydration technology and the non-exclusive right to process apple, plum, strawberry, cherry, peach, grape, raspberry and blackberry products. In exchange for these rights, Natural Nutrition has agreed to pay EnWave a royalty on the revenue derived from the sale of the aforementioned products.
Pursuant to the Purchase Order, EnWave will build and install a small commercial-scale nutraREV® machine at Natural Nutrition’s facility in the second half of 2014 to support initial market development efforts and commercial production. The License specifies that Natural Nutrition must purchase an additional nutraREV® machine within one year from the commissioning of the first machine and a third within one year from the start-up of the second nutraREV® unit. All remaining details of the License and the Purchase Order are confidential.
About Natural Nutrition Limited
Natural Nutrition is a Chilean company focused on the dehydration of fruit, especially berries and native species of Chile and Patagonia, such as Maquiberry and others. The mission of Natural Nutrition is to process the healthiest raw materials with high nutritional quality from the fields and forests of this region. The combination of using optimal raw materials and appropriate dehydration technology, will allow Natural Nutrition to preserve superior nutritional content, flavor and aroma from the fresh fruits.
REV™ processing operations will begin in 2015, with projected growth of 50 tons of finished product per year over the next four years, both as whole dried fruit and powder. With the implementation of REV™ technology, Natural Nutrition aims to position itself as a benchmark and leader in Chile, Latin America and the world for the production of high-quality dried fruit with high nutritional value, supplying the market demand for snack fruit, nutraceuticals and functional ingredients.
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