VANCOUVER, BRITISH COLUMBIA– EnWave Corporation today announced that the Company has signed a Collaboration Agreement ("the Agreement" or "the Collaboration") with the world's largest producer of baked goods, and one of the largest global food companies, Grupo Bimbo SA ("Grupo Bimbo") based in Mexico City, Mexico. The Collaboration will focus on the development and testing of certain food products using EnWave's nutraREV™ dehydration technology. Terms of the Agreement are confidential.
"This is potentially a major step forward in EnWave's strategy for the world-wide introduction of nutraDried™ food products," stated EnWave Chairman and Co-CEO, Dr. Tim Durance. "We have had a tremendous degree of interest from global food producers in our high-speed, low-cost dehydration technology, and this agreement with Grupo Bimbo represents our first collaboration with a Latin American-based company."
With 2009 revenues of just under USD$9 billion, over 100,000 employees, and nearly 100 manufacturing facilities around the world, Grupo Bimbo is currently ranked among the largest food corporations in the world. With the 2009 acquisition of the Weston Foods Inc. fresh bakery business in the United States, and the recent announcement of the acquisition of the Sara Lee U.S. bakery business, Grupo Bimbo is also the world's largest bread manufacturer. Grupo Bimbo currently markets over 7,000 products under more than 150 different brands in Latin America, United States and China, with names including Oroweat, Bimbo, Entenmann's, Boboli, and Thomas'. Grupo Bimbo's distribution network comprises over 40,000 supply routes and 1.8 million points of sale.
About Grupo Bimbo SA
Established in Mexico in 1945, Grupo Bimbo is now one of the most important baking companies in brand and trademark positioning, sales, and production volume around the world. In Mexico and Latin America it is an undisputed leader in its field. Grupo Bimbo has been traded on the Mexican Stock Exchange (Bolsa Mexicana de Valores) since 1980 under the ticker symbol BIMBO. Grupo Bimbo comprises six divisions and a corporate department that operates companies throughout the baking and snack food industry. For more information about Grupo Bimbo, access their website at: http://www.grupobimbo.com.mx/index.php.
About EnWave
Using proprietary technologies developed in conjunction with the University of British Columbia, EnWave is commercializing a new method for dehydrating food and biological materials using Radiant Energy Vacuum ("REV") technology under its nutraREV™, powderREV™, bioREV™ and freezeREV™ brands. REV technology combines microwave energy transfer under vacuum to dehydrate and alter structures and drive chemical reactions, thereby creating unique product characteristics for both food products and medical applications that include fruit, vegetables, probiotics, enzymes, proteins, food cultures, vaccines and antibodies. More information about EnWave is available at www.enwave.net.
EnWave Corporation
Dr. Tim Durance, Chairman & Co-CEO
Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. There is no guarantee that the Company's REV technology can or will improve processes in the target industry; even if the Company's REV technology can be used as described in this document, there is no guarantee that such use will result in orders for the Company's REV technology. All figures comparing REV technologies to freeze drying or other dehydration technologies are provided as examples of data obtained through the Company's own scientific and testing programs; each product must be tested individually to determine the benefits of using REV.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Source: EnWave Corporation
