VANCOUVER, British Columbia, April 26, 2018 (GLOBE NEWSWIRE) -- EnWave Corporation (TSXV:ENW) (FSE:E4U) (“EnWave”, or the "Company") announced today that Agropur Dairy Co-operative d.b.a. Ultima Foods (“Agropur”), a royalty-partner of the Company, has successfully developed a new, innovative way of enjoying yogurt on-the-go and will be soft launching its iögo Protein Crunch snack products in Quebec and Alberta this Spring.
Using EnWave’s patented Radiant Energy Vacuum (“REV™”) dehydration technology, Agropur has developed several shelf-stable formulations that maintain active yogurt cultures in the finished snack product. There is nothing like iögo Protein Crunch on the market today, as it offers a crunchy, nutritious, unique yogurt snacking option. iögo Protein Crunch will be available in 35g packaging in the following flavours: sour cream and green onion, cheddar, salted caramel and applewood smoked BBQ.
The project to transform yogurt into snack bites has been ongoing for two years. “Reinventing the dairy experience is one of our organization's priorities,” explains Martin Parent, General Manager, Yogurt at Agropur “We had an idea and we needed a unique technology to transform it into an opportunity,” he adds. Martin Parent has been supervising the evolution of the iögo's brand strategy since July 2014.
Agropur currently holds an exclusive license to use REV™ machinery for the production of yogurt-based products in Canada and is the first royalty partner of EnWave’s to successfully commercialize a yogurt product.
Agropur Cooperative is a North American dairy industry leader founded in 1938. With sales of $6.4 billion in 2017, the Cooperative is a source of pride to the 3,290 members and 8,300 employees who work together in pursuit of a shared goal: Better Dairy. Better World. Agropur processes more than 6.1 billion litres of milk per year at its 39 plants across North America and boasts an impressive roster of respected brands and products, including Natrel, OKA, iögo, BiPro, Agropur Grand Cheddar, Olympic, Farmers, Island Farms and Québon. Agropur’s head office is certified LEED Silver. For more information on Agropur please visit www.agropur.com.
EnWave Corporation, a Vancouver-based advanced technology company, has developed Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products.
REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors including legal cannabis. EnWave’s strategy is to sign royalty-bearing commercial licenses with industry leaders in multiple verticals for the use of REV™ technology. The company has signed over twenty royalty-bearing licenses to date, opening eight distinct market sectors for commercialization of new and innovative products. In addition to these licenses, EnWave’s wholly-owned subsidiary, NutraDried Food Company LLC, was formed to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese® brand.
EnWave has introduced REV™ as the new dehydration standard in the food and biological material sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:
1. nutraREV® which is used in the food industry to dry food products quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour;
2. powderREV® which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point, and
3. quantaREV® which is used for continuous, high-volume low-temperature drying.
An additional platform, freezeREV®, is being developed as a new method to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.
Dr. Tim Durance
President & CEO
For further information:
John P.A. Budreski, Executive Chairman at +1 (416) 930-0914
Brent Charleton, CFA, Senior Vice President, Sales and Business Development at +1 (778) 378-9616
Deborah Honig, Corporate Development, Adelaide Capital Markets at +1 (604) 755-1348
Forward-Looking Information: 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 and market position are forward-looking statements. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions, including those relating to the expectation of commercially successful integration of the EnWave technology to the dehydration of cannabis, the outcome of EnWave’s patent application, the ability of the Company to expand into the cannabis industry and successfully market its technology and patents, that the Company will be able to meet all applicable legal regulatory requirements in order to commercially exploit its patent, if and when its application is approved, or otherwise market its technology to cannabis industry participants, and other risks applicable to the Company as disclosed in its public filings. 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. EnWave does not undertake to update its forward-looking information unless required by applicable securities law. Accordingly, readers should not place undue reliance on forward-looking statements.
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