July 6, 2009

Dear Subscriber,

I would have to say that the defining moment of the past quarter was winning a prestigious award at the International Food Technologists conference in Anaheim, California. The IFT Food Expo Innovation Awards program honors outstanding innovation in food products, ingredients, applications, instruments, equipment, technology, and services. A panel of eight jurors from industry, academia, and government reviewed 49 entries this year, and selected EnWave among the top four companies based on the degree of innovation, technical advancement, benefit to food manufacturers and consumers, and scientific merit.

The tradeshow organizers presented our own Dr. Tim Durance with the award in front of 2,500 attendees at the opening conference session for our innovative nutraREV™ food dehydration technology. Not only does the award endorse the years of hard work by our engineering and scientific teams, it also generated great interest from the food industry. At our conference booth we had a significant level of activity and came away with over 80 new leads for nutraREV™ sales throughout North and South America.

Our first commercial-scale customer for this technology, CAL-SAN Enterprises, continues to work with their distributor on a number of marketing opportunities with large North American cereal and snack food manufacturers, along with contacts in the Asian food industry. EnWave personnel continue to work closely with CAL-SAN as they execute their enterprise business strategy to introduce “puffed” blueberries to consumers.

In April, we announced a Co-Marketing agreement with our new partner, Hans Binder Maschinenbau GmbH from Munich, Germany. They were present at the IFT tradeshow with us, and impressed everyone with their delicious dehydrated banana and pineapple slices. In 2008, Binder built a soup stock dehydration plant using their commercial-scale MIVAP™ technology for the Japanese multi-national Ariake Group. They have excellent food industry contacts, along with a great deal of experience in food dehydration, and I believe that they will add significant value to EnWave’s marketing program in Europe.

Our scientists have been hard at work testing the powderREV proof-of-concept technology, and have made progress on a number of different food cultures for our partner, Danisco AS. EnWave engineers have also been busy on the design of our pre-commercial powderREV technology which is intended to produce up to four kilograms of dried food culture ingredients per hour. This version of the technology is scheduled for completion by the end of this year, at which point it will be shipped to Danisco’s pilot facility in Madison, Wisconsin for comprehensive testing by their own engineers and scientists.

We have received a number of calls from prospective partners looking to test powderREV as a faster, cheaper and more effective way to dry enzymes, drinks, and pharmaceuticals. Although we have not yet signed any definitive agreements, we continue to build relationships with these companies and expect to be begin some preliminary product testing over the course of this year.

EnWave’s scientists continue to expand the use of bioREV™ and freezeREV for a variety of live and active materials with the goal of building a database to demonstrate the kind of materials which work best in this vial dehydration technology. We now have a range of materials to show prospective partners including viral- and bacterial-based vaccines, as well as proteins and enzymes. Our objective is to identify new partners for this technology who can assist EnWave in commercializing it over the medium-term.

I’d like to express how pleased I am with EnWave’s recent progress on a number of fronts, not the least of which is our share strength. Thanks to the tenacity of our long-time supporters, and to the excitement of our newest shareholders who were introduced to the company through May’s very successful $2.2M private placement, we are now well positioned to reach a new threshold in the stock.

Our investor relations program in Europe has begun to bear fruit in the form of more consistent trading activity on both the Frankfurt Stock Exchange and on the XETRA® electronic exchange where we listed in May. If you are interested in tracking EnWave’s trading activity in Germany, click on Deutche Boerse AG , and Price Search for our symbol, “E4U”.

I would like to thank you for your continued support and, as always, please contact myself at john.mcnicol@enwave.net or Jennifer Thompson, V.P. of Corporate Development & Investor Relations, at jthompson@enwave.net with your questions or thoughts about the company.

Best regards,

John McNicol
President & Co-CEO
EnWave Corporation

In May 2009, the German investment bank, BankM, began supporting EnWave share trading on the electronic trading platform XETRA® run by the Deutsche Boerse AG. As the company's 'designated sponsor' or market maker, the role of BankM traders is to provide additional market liquidity by offering binding bid and ask prices for the shares. This activity ensures that the shares are continuously traded on the Frankfurt Stock Exchange at marketable prices, increasing the attractiveness of EnWave’s stock to European investors. EnWave’s shares trade on the XETRA® system under the symbol E4U.

What is XETRA®?

XETRA® is the leading international electronic trading platform run by the Deutsche Boerse AG. Over 260 participants in 19 countries and more than 4,700 authorized traders are connected to XETRA®. Participants can access the XETRA® trading system irrespective of their location. Banks, financial services, institutions, and financial companies are all eligible to participate in XETRA® trading. Order prices and volumes can be accessed by all market participants, thereby ensuring market transparency, trading speed and flexibility.

About BankM

BankM (www.bankm.de) is a leading German investment bank supporting publicly traded companies on the Frankfurt Stock Exchange. A team of experienced specialists offer services ranging from pre-Initial Public Offering (IPO) consultancy to the execution of IPO’s, M&A activity, Designated Sponsoring (market making), road show organization, and other consulting services. BankM supports over 30 national and international corporate clients on the German market. For more information about BankM, contact Thomas Stewens or Peter Sang.