BCBusiness Innovators 2012, EnWave Corp. | BCBusiness
Back: 2012 BCBusiness Guide to Innovation
Congratulations to EnWave Corp., #20 in 2012's Most Innovative Companies in B.C.
EnWave’s breakthrough innovation is its radiant energy vacuum (REV) dehydration technology, which it’s banking will be a game-changer for pharmaceutical and food applications.
For the past 50 years, freeze-drying has been the standard technology for large-scale dehydration, but REV technology promises a faster, greener and more economical alternative. Big industry has taken notice: EnWave has R&D agreements with Ocean Spray Cranberries Inc., Kellogg Co., Merck and a handful of other major corporations.
The 13-year-old company, which holds 16 patents, has yet to turn a profit, but marketing director Brent Charleton anticipates a breakthrough year in 2012, projecting revenue upwards of $1.2 million, compared to $217,000 in 2011. The majority of that revenue will come from leasing agreements, the details of which are currently under lock and key. Co-CEO Timothy Durance was awarded the 2012 Award of Excellence in Innovation by the Investment Agriculture Foundation of B.C. for his work on REV technology.