EDIBLES MANUFACTURER ENTERING THE AUSSIE BEER MARKET

EDIBLES MANUFACTURER ENTERING THE AUSSIE BEER MARKET

LIFE sciences company and edible cannabis manufacturer eSense-Lab Ltd (ASX: ESE) is making a new play into the Australian beer market.

eSense has announced it has executed a memorandum of understanding with Sydney-based brewer Young Henry's Brewing Company to develop a terpene infused line of beer.

Under the agreement, eSense and YHB will develop a line of terpene-based beer, with the intention to enter into a further definitive agreement on finalisation of the product.

Terpenes are the organic compounds found in cannabis plants which are responsible for flavour and fragrance, along with many health and medical benefits.

eSense is already an established player in the terpene space, having produced a range of chocolates infused with the substance through its collaboration with Healthy Chocolate based in Florida.

eSense CEO Haim Cohen says the cannabis edibles sector is growing at an incredibly fast rate, and the company is poised to take full advantage of that.

"The cannabis infused food & beverage and alcohol markets are growing at a tremendous rate," says Cohen.

"Our unique and patented technology allows us to produce an unmatched product in terms of quality and usability, and importantly without restriction or regulation in any territories, whilst still maintaining the complete cannabis terpene profile and their associated benefits."

Young Henry's is a brewery and distillery, offering a range of craft beers, ciders, and a gin product made using techniques from both brewing and distilling.

Shares in eSense-Lab are up 6.25 per cent to $0.34 per share at 10.45am AEDT.

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Four ways businesses can use artificial intelligence to triumph in 2022
Partner Content
The last two years have delivered major disruption to the technology industry and broad...
PROS
Advertisement

Related Stories

Aussie Broadband launches $344m bid for Over The Wire

Aussie Broadband launches $344m bid for Over The Wire

One of Brisbane’s Top Companies Over The Wire (ASX: OTW) has ...

Afterpay postpones vote on takeover as Square takes on a new name

Afterpay postpones vote on takeover as Square takes on a new name

Delays from the Bank of Spain in approving a multi-billion takeover...

Woolworths takes on Wesfarmers in bid for Priceline with $872m offer

Woolworths takes on Wesfarmers in bid for Priceline with $872m offer

Woolworths Group (ASX: WOW) has today thrown its hat in the ring to...

Crown opens up books to Blackstone, but says bid undervalues business

Crown opens up books to Blackstone, but says bid undervalues business

Crown Resorts (ASX: CWN) has today given suitor Blackstone access t...