eSense-Lab achieves key milestones that validate commercialisation model for terpenes

eSense-Lab Ltd (ASX:ESE) continues to achieve strategic and operational milestones as it progresses a commercialisation strategy for evidence-based terpene product development for medicinal and wellness uses.

Signed contracts and partnership agreements during the first half of 2020 have positioned the company to increase sales and revenue growth as it demonstrates the broad range of applications for its terpenes.*Contracts and JVs*

In this period eSense has secured three agreements to supply its unique terpenes across multiple revenue-generating markets.

An exclusive sales agency contract has also been executed targeting A$10 million of product sales in the lucrative US market over five years.

eSense has signed joint venture agreements with initial orders anticipated to provide revenue of approximately A$950,000 to the company and it is working towards more large revenue joint-venture opportunities.

Establishing joint ventures for mutual development of products with different partners allows the company to position itself across multiple revenue-generating markets.