Bonduelle NR
EnWave Signs Lease Agreement with Bonduelle Download PDF February 11, 2014 EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company") is pleased to announce today that following the signing of a global exclusive royalty-bearing license on November 19th, 2013, the Company has signed an Equipment Lease Agreement (the “Agreement”) with a division of Bonduelle (“Bonduelle”), the world’s leading processed vegetable producer. Under the Agreement, EnWave will build a 120kW MIVAP® machine (the “Machinery”), via their subsidiary Hans Binder Maschinenbau GmbH (“Binder”), for Bonduelle to use for their North American operations. The Machinery is scheduled to be delivered to Bonduelle in late 2014, where it will be used to create and develop dehydrofrozen (“DHF”) vegetables as part of their business development efforts. DHF vegetables are partially dehydrated and then quickly frozen. The purpose of this process is to retain nutritional content, color, flavor and most importantly texture when cooked from the frozen state. From a global perspective, Bonduelle plans to explore many unique opportunities for DHF frozen products with better quality ingredients for frozen consumer products. Bonduelle is convinced that the attributes of the “EnWave Frozen vegetables” respond to specific customers’ needs that actual fresh or frozen vegetables do not satisfy adequately. In anticipation of a successful research and development program, the two companies will concurrently collaborate on the design of a commercial-scale quantaREV® machine for DHF vegetable production with target finished frozen product capacity of between 3 and 4 tonnes per hour. The quantaREV® machine design is expected to be completed in 2015 providing Bonduelle with the opportunity to launch DHF products on a commercial scale. “We are excited to be working together with a market leader like Bonduelle to support the development of the first commercial scale quantaREV® platform for this exciting new product category,” stated Dr. Tim Durance, Chairman and Co-CEO of EnWave. “If the research of quantaREV® technology can create success in this product area it can open up many new market opportunities for EnWave where high capacity low temperature drying options do not currently exist.” About Bonduelle Bonduelle has a clear goal: to be a nutrition partner for consumers. It does all it can to encourage people to eat vegetables by offering a very wide product range which is extensively available in over 100 countries worldwide. Today the company has over 80 types of vegetable and has been present since 1998 in four segments: canned, frozen, fresh and delicatessen salads. Bonduelle is above all a ‘corporate’ brand and a family brand. The brand name is both the name of the company and the name of the founding family, whose activities began back in the middle of the 19th Century. Giving the family’s name to the product ensures that consumers immediately identify the product and recognize the name, Bonduelle. Its Chief Executive Officer, Christophe Bonduelle, represents the 6th generation of this family business. For more information on Bonduelle please visit www.bonduelle.com.