| EnWave Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave", or the "Company") announced today that the Company has signed a Technology Evaluation & License Option Agreement ("the Agreement") with Ocean Spray Cranberries Inc. ("Ocean Spray") to test EnWave's nutraREV(TM) 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(TM) 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 & Co-CEO, 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. |