EnWave Corp. has signed a technology evaluation and licence option agreement
with Ocean Spray Cranberries Inc. to test EnWave’s nutraREV food dehydration
technology. The agreement provides a period of up to 18 months for Ocean Spray
to develop and test market dried cranberries, with an option to license the
nutraREV technology at the end of this period for global production. Further
terms of the agreement are confidential.
“We now have a substantial effort being made on the global stage by
multinational companies such as Ocean Spray to develop new products, improve
existing products, or improve current manufacturing processes using our
proprietary REV dehydration technology,” stated Dr. Tim Durance, chairman and
co-chief executive officer, EnWave. “Through these partnerships, we are
determining the best applications of REV in areas as diverse as high-quality
food ingredients, snack foods and cereals, along with biological material such
as bacteria, enzymes, antibodies and vaccines.”
“Initial internal response to cranberry samples was very positive, and we
will continue to evaluate the technology for potential commercialization
opportunities,” said Paula Manoski, director, product development, Ocean Spray
Cranberries.
We seek Safe Harbor.