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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.
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