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eSense-Lab signs two-year commercial supply agreement with E-Quits Group

The life science company is developing products for the e-cigarette liquid market as well as for the food additive and supplement markets.

eSense shares were up more than 12% intraday

eSense-Lab Ltd (ASX:ESE) has signed a 2-year agreement for the supply of terpenes to United Kingdom-based E-Quits Group as part of its ongoing commercialisation activities.

The supply agreement comes after a 6-month pilot program and will consist of E-Quits' purchase of eSense's Super Lemon Haze Mix for integration into a variety of products to be marketed in the UK.

E-Quits is one of the largest companies in the UK e-liquid market, having acquired other manufacturers such as Lonjas UK and Proof E-liquids and established a retail distribution company called Vaping Warehouse.

Agreement expands potential product opportunities

eSense chief executive officer Haim Cohen said: "The supply agreement culminates a long successful testing period and expands the opportunities for use of our terpenes in a variety of industry sectors.

"Our continuing mission, the commercialisation of our terpenes, and penetration of the global e-liquid is showing success as evidenced by this new supply agreement.

"eSense is performing pilot programs with other companies in the e-cigarette liquid market, as well as developing different products that will allow the company to grow in the food additive, food supplements, e-cigarette and other related markets."

READ: eSense-Lab develops e-liquid formulation with cannabis aroma

The supply agreement includes the supply of terpenes at a fixed price per litre and does not set any minimum order requirements.

E-Quits have indicated that they will be providing a schedule of proposed orders in the upcoming months.

Terpenes are a class of organic compounds produced from a variety of plants and are the main elements in essential oils of many types of medicinal plants and flowers.

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Market: ASX
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