EnWave Sells Second Radiant Energy Vacuum Machine to Responsible Foods Ehf d.b.a. Naera Snacks

VANCOUVER, British Columbia, Jan. 05, 2021 (GLOBE NEWSWIRE) — EnWave Corporation (TSX-V: ENW | FSE: E4U) (“EnWave” or the “Company”) announced today that it has signed an Equipment Purchase Agreement (the “Agreement”) with Responsible Foods Ehf d.b.a. “Naera Snacks” to deliver a second 10kW Radiant Energy Vacuum (“REV™”) dehydration machine. This REV™ machine will double Naera Snacks’ manufacturing capacity to produce premium dried snacks using healthy Icelandic ingredients. EnWave expects to commission the second 10kW REV™ machine at Naera Snacks’ facility in Iceland before April 2021.
Naera Snacks holds the exclusive right to process a variety of unique and healthy, sustainable food products in Iceland using the Company’s patented dehydration technology. Some of these premium products include dairy products, seafood, meat, microalgae, seaweed, and various herbs, berries, and plant native to the Icelandic region. This range of REV™ dried products are intended to be sold both as ingredients and as retail consumer products for export. The first two class of products launched commercially by Naera Snacks are crunchy Icelandic cheese and Skyr snacks and unique seafood-based snacks will be launched in Q2 of 2021.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b614d732-4b2f-400e-ac81-691d34541694EnWave’s patented REV™ technology is currently being used by over forty companies in twenty countries across three industry verticals: food, cannabis and pharmaceuticals. Drying takes place under vacuum, which allows for a swift, controllable, low-temperature process that uniformly removes moisture from food, cannabis and pharmaceutical products in an economical manner. The technology’s unique ability to transform organic materials into value-add, premium shelf-stable formats is what sets REV™ apart from competing dehydration technologies.About Responsible Foods d.b.a. Naera Snacks
Responsible Foods is an Icelandic innovative healthy start-up snack food company located in an innovation hub in the Reykjavik downtown harbor area in Iceland. Responsible Foods has developed new disruptive and innovative healthy functional snack food products under the brand name Næra™, which means to nourish (nai:ra / verb). The snacks are based on healthy, authentic, clean natural Icelandic ingredients rooted in centuries of Icelandic Viking traditions.
The company is revolutionizing snacking using EnWave’s proprietary drying technology combined with its Icelandic ingredients and exclusive formulations. The highly novel healthy snacks will be the first of their kind and will meet escalating global consumer demand for products that are at the same time healthy, tasty and convenient to keep consumers fueled throughout the day and for outdoor adventures. All the snacks produced by Responsible Foods are nut, wheat and gluten-free as well as non-GMO, antibiotic and hormone-free and made with 100% green energy. The company is led by a highly experienced, strong international team with decades of experience in the global food industry.More information on Responsible Foods and Naera Snacks is available at www.naerasnacks.com.Responsible Foods
Holly T. Kristinsson (Petty), PhD
CEO and Cofounder
For further information:Holly T. Kristinsson (Petty), Ph.D., CEO and Cofounder at +354 825-2100
E-mail: [email protected]
About EnWave
EnWave Corporation, a Vancouver-based advanced technology company, has developed a 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 high-quality, marketable cannabis products.
REV™ technology’s commercial viability has been demonstrated and is multiplying 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 forty royalty-bearing licenses to date in twenty 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.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]
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 several risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, other factors 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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