VANCOUVER, British Columbia, Nov. 08, 2021 (GLOBE NEWSWIRE) — EnWave Corporation (TSX-V: ENW | FSE: E4U) (“EnWave”, or the “Company”), announces today that its wholly-owned subsidiary, NutraDried Food Company (“NutraDried”), has secured a national 12-week distribution opportunity (the “Club Promotion”) with a major warehouse club chain in Canada (the “Customer”).
Under the Club Promotion, NutraDried plans to ship 10 oz Gouda Moon Cheese® to supply all of the Customer’s club warehouses in Canada for the 12-week promotional term. The shipments are expected to be made in late December and into early January for the planned promotion at the beginning of 2022.
EnWave believes that NutraDried will have multiple opportunities to win new rotations with the same customer in both the U.S. and Canada during the 2022 fiscal year and intends to pursue new growth in this strategic channel. NutraDried has expanded its channel strategy to include branded product, private label and bulk sales and plans to introduce new formats of Moon Cheese® commercially to complement its current distribution.
Further, there is continued broad interest from grocery, natural and convenience buyers in core Moon Cheese® products as well as new formats scheduled to launch in 2022. NutraDried aims to confirm material new distribution in the coming months.
About EnWave
EnWave Corporation, a Canadian advanced technology company, has developed Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of food materials. EnWave has further developed patented methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable, high-quality 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 innovative, disruptive companies in multiple verticals for the use of REV™ technology. The company has signed over fifty royalty-bearing licenses to date across 20 countries worldwide. In addition to these licenses, EnWave established a Limited Liability Corporation, NutraDried Food Company, LLC, to manufacture, market and sell all-natural dairy snack products in the United States, including the Moon Cheese® brand.
EnWave has introduced REV™ as a disruptive dehydration platform in the food and cannabis sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently offers two distinct commercial REV™ platforms:
- nutraREV® which is a drum-based system that dehydrates organic materials quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour; and,
- quantaREV® which is a tray-based system used for continuous, high-volume low-temperature drying.
EnWave is also active in the pharmaceutical industry through a joint development agreement with GEA Lyophil, a leader in GMP drying machinery.
More information about EnWave is available at www.enwave.net.
EnWave Corporation
Mr. Brent Charleton, CFA
President and CEO
For further information:
Brent Charleton, CFA , President and CEO at +1 (778) 378-9616
E-mail: [email protected]
Dan Henriques, CA, CPA, Chief Financial Officer at +1 (604) 835-5212
E-mail: [email protected]
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 claims referred to in this release are not guaranteed to be accurate. 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.
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.
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