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or Name
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CA



EnWave Corp
Symbol ENW
Shares Issued 84,372,759
Close 2015-01-02 C$ 1.20
Market Cap C$ 101,247,311
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EnWave to provide nutraREV machine to Hormel

2015-01-05 09:06 ET - News Release

Dr. Tim Durance reports

ENWAVE RECEIVES PURCHASE ORDER FROM HORMEL FOODS FOR 100KW RADIANT ENERGY VACUUM MACHINERY

Hormel Foods Corp., a current commercial licensee of EnWave Corp.'s Radiant Energy Vacuum dehydration technology and a Fortune 500 company, has submitted a purchase order to EnWave for a 100-kilowatt nutraREV machine.

Hormel Foods and EnWave are expecting the installation of the machine to be completed in 2015 at a plant located in the United States. The start-up of this machine will enable Hormel Foods to enhance its commercial production and launch new, innovative, dried meat snack products.

Prior to submitting this order, Hormel Foods conducted successful technology, product and market evaluations using REV technology. The company's decision to pursue increased commercialization of REV-dried meat snack products confirms the value proposition of EnWave's proprietary dehydration technology and builds its momentum in this global market. In addition to the order, Hormel Foods has agreed to purchase lab-scale nutraREV equipment for the purpose of continued product development at its research and development facilities. EnWave will continue to support the continuing world-class innovation efforts of Hormel Foods.

About Hormel Foods

Hormel Foods, based in Austin, Minn., is a multinational manufacturer and marketer of consumer-branded food and meat products, many of which are among the best known and trusted in the food industry. The company leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring branded, value-added products to the global marketplace. The company is a member of the Standard & Poor's (S&P) 500 Index and S&P 500 Dividend Aristocrats for 2014; was named the 2013 Sustainable Supply Chain of the Year by Refrigerated & Frozen Foods magazine; and was again named one of the 100 best corporate citizens by Corporate Responsibility magazine for the sixth year in a row. Hormel Foods was also recognized as a 2015 military friendly employer by G.I. Jobs magazine, and named one of the 2014 40 best companies for leaders by Chief Executive magazine. The company enjoys a strong reputation among consumers, retail grocers, foodservice and industrial customers for products highly regarded for quality, taste, nutrition, convenience and value.

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