EnWave Corporation
 |
|
| Public | |
| Traded as |
TSX-V: ENW OTC Pink: : E4U |
| Industry | Drying Equipment |
| Headquarters | Vancouver, British Columbia, Canada |
|
Key people
|
Dr. Tim Durance (President & CEO) Mr. John P.A. Budreski (Executive Chairman) Mr. Brent Charleton (Senior Vice President, Sales and Business Development) |
| Revenue | C$14.9 million (2016) |
|
Number of employees
|
35 (2016) |
| Subsidiaries | NutraDried LLP |
| Website | EnWave.net |
Founded in 1999, out of the University of British Columbia (UBC), EnWave Corporation is an industrial technology company that offers commercial-scale microwave vacuum dehydration machinery for applications in the food and pharmaceutical industries. The company is based in Vancouver, British Columbia.
EnWave’s proprietary Radiant Energy Vacuum (REV) dehydration technology was developed by Dr. Tim Durance, who is the company's current Chief Executive Officer. The REV platforms apply microwave energy under vacuum to offer flexible, efficient, low temperature processing suitable for the dehydration of sensitive food products and biomaterials.
The company's mission is to establish its REV technology as a better alternative for freeze drying, air drying and spray drying, the current drying standards. Several studies with herbs, vegetables, meats, and fruits have demonstrated that flavor, color, nutrient, and other biologically active chemicals that are sensitive to thermal or oxidative degradation typically exhibit better retention after microwave vacuum drying compared to air drying.
The combination of vacuum and microwave also allows solid food pieces to be dried more rapidly, and thus more cost-effectively, than other drying methods. A study of three drying technologies, in which 3 mm thick carrot slices were dried, illustrated the rapid dehydration rate that can be achieved using microwave vacuum drying. Freeze drying took approximately 3 days to reach the end point of 9.9 percent moisture content, air drying took 8 hours, and microwave vacuum drying only required 33 minutes.
EnWave’s business model is to sell REV machinery and to sign royalty-bearing commercial licenses with food and pharmaceutical companies for the use of its technology. Each license agreement restricts the partner’s use of the technology to specific applications and geographic areas. The royalty income is based on a percentage of net sales generated from the use of the REV technology.
The company closed its first commercial license agreement in February 2008 with CAL-SAN Enterprises, a blueberry producer from British Columbia, Canada. To date the company has signed twenty-two royalty-bearing licenses, with companies that include Hormel Foods, Bonduelle, Gay Lea Foods, and Sutro Biopharma. In addition, EnWave has signed Technology Evaluation and License Option Agreements with companies such as Merck Pharma,Nestle, and Jack Link's, which are testing the technology.
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