EnWave’s Strong Performance in 2016 Provides Platform for Continued Growth

EnWave Corporation (TSXV:ENW – $1.18 CAD & OTC:NWVCF – $0.88 USD) offers industrial-scale dehydration technology for commercial applications in the food and pharmaceutical spaces. The Company’s Radiant Energy Vacuum (“REV”) platforms are becoming the new global dehydration standard, as they are faster and cheaper than freeze drying, and have better end product quality than both air drying and spray drying.

EnWave’s fiscal year 2016, which ended September 30, 2016, was extraordinary on all fronts. The Company reported revenues of $14.9 million for the year, compared to $5.9 million in the prior year, up more than 150%. Net loss from continued operations was reduced from $5.0 million last year to $1.8 million in 2016. In its second and third quarter EnWave even achieved a positive net income.

Also, fiscal year 2016 was marked with remarkable progress in the commercialization of EnWave’s REV technology. The Company added four royalty bearing licenses and signed numerous Technology Evaluation and License Option Agreements (TELOAs) with prospective royalty partners.

Over the coming quarters, EnWave intends to aggressively pursue its commercialization strategy through confirming more REV machine orders, growing royalty streams with established royalty partners, and the increase of NutraDried LLP’s Moon Cheese sales.

Another major goal for EnWave in 2017 will be the installation and start-up of both a powderREV and freezeREV machine. The commercialization of both technologies continued to progress during 2016, with EnWave advancing the design and manufacture of scaled-up versions of each platform for Sutro Biopharma and Merck respectively. The successful installation of these platforms will solidify EnWave’s value proposition with potential new partners in the pharmaceutical industry.

We reiterate our buy recommendation for EnWave Corp. with a price target of $3.64, which is 208% above today’s stock price.

Download the fourth quarter 2016 EnWave Corp. Company Report.

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