Vancouver-based technology company EnWave Corp. (TSX-V:ENW) announced this morning it has “mutually” ended a research and development collaboration with Copenhagen-based Danisco AS to test EnWave’s powderREV technology.
EnWave is developing commercial applications for a Radiant Energy Vacuum (REV) dehydration technology. The company has six platforms for its REV technology, including powderREV, which EnWave is developing for bulk dehydration of food cultures, probiotics and biochemicals such as enzymes.
The company announced that the pilot with Danisco has not yet achieved all project targets and would require some equipment modifications and further testing, which would require a longer development path.
The companies agreed that, “in light of other priorities,” they would discontinue the collaboration, EnWave stated.
“EnWave’s collaboration with Danisco has been beneficial to the development of our powderREV technology,” Tim Durance, EnWave’s chairman and co-CEO, said in a statement.
“We will now leverage that development to attract other interest in the food and pharmaceutical areas, while intensifying our focus to reach commercial agreements with other current partners.”
Last month, EnWave announced two new licensing agreements with U.S. food manufacturer Milne Fruit Products Inc. (See “Enwave signs new partnerships” – BIV Business Today, October 14.)
At press time, EnWave’s stock was down 8% to $1.61. Calls to EnWave were not returned by press deadline.
Jenny Wagler
@JennyWagler_BIV