EnWave Showcases Technology at Anuga FoodTec Show
Anuga FoodTec, one of the largest fairs in the world for the food and beverage industry, was a big success for EnWave Corporation (TSXV:ENW – $1.06 CAD & OTC:NWVCF – $0.85 USD). The Company received many enquiries from potential customers and took the opportunity to update current partners (see images below).
The show, which is organized once every three years in Cologne, Germany, brings together the newest technologies, machines and equipment for the manufacturing, processing and packaging of foods and beverages. It was an ideal spot for EnWave to demonstrate its revolutionary Radiant Energy Vacuum (REV) dehydration technology.
EnWave shared a booth with its German subsidiary Binder (see images below). It actively reached out to potential customers in the food industry so they could get to know the Company’s dehydration equipment, which is faster and cheaper than freeze drying, and has better end product quality than air drying or spray drying.
In addition, prospects were invited to the operating NutraDried facility in Farndale, WA, where they can see a 100kW nutraREV machine in operation. NutraDried is 51% owned by EnWave and produces healthy dried cheese snacks for the North American market.
The 2015 Anuga FoodTec trade fair set a new record both in terms of the number of exhibitors and visitors, clearly confirming its international leading role as an information and sourcing platform for the food and beverage industries.
More than 1,500 companies from the mechanical engineering, food and beverage technology, process technology, packaging and filling sectors exhibited at the show. And over 45,000 experts from the food and beverage industry gathered information on the innovations and further developments of the industry.
At the time of the previous Anuga fair, in 2012, EnWave was nowhere near where it is today. As such, this year’s event was an excellent occasion to show all the major food players in the world that the Company’s REV platforms are ready to become the new global dehydration standard.
During the coming weeks and months plenty of Anuga prospects will be contacted and invited to the NutraDried plant, which is currently producing dried cheese snacks, which will soon be sold at 3,500 locations of a large international coffee chain as part of 16 week trial. Moon Cheese is already available in approximately 1,700 locations across the United States and Canada.
In addition, it’s important to remember that next to NutraDried, EnWave has twelve commercial REV customers under contract. Bonduelle and Hormel Foods will start using their REV units in 2015, which will generate sales and royalties for the Company.
Also the backlog at the Company’s German subsidiary Binder is growing, as it received C$4.38 million in orders over the past few months. EnWave is a buy recommendation both for the short term (NutraDried) and for the longer term (each REV unit provides EnWave with royalties for as long as the machine is in operation).
|For important disclosures, please read our disclaimer.||Latest Company Report (pdf)|