SōRSE Technology Corporation, a water-soluble emulsion technology company, has entered the hemp and cannabis marketplace in Thailand through an exclusive partnership with Hempagoda. In 2019, Thailand became the first Southeast Asian country to legalize cannabis for medical use and research, as well as hemp for producing textiles, garments, and other products. In February 2021, Thailand legalized the use of hemp and CBD in food and cosmetics, and early this year, the government removed cannabis and hemp from its list of controlled substances. These steps have created the opportunity for the production of infused products in 2022.
Over the past three years, SōRSE has expanded its global presence to Australia, Canada, the EU, Latin America, the UK, Asia and South Africa. This licensing agreement will mark SōRSE’s entrance into Thailand and the greater Southeast Asia marketplace. The emulsions will be produced at Hempagoda’s 12,000 square meter facility in Bangkok.
“Since Thailand legalized the use of hemp and CBD in food and cosmetics, there has been plenty of interest from both consumer and Food and Beverage producers for product offerings incorporating cannabis. We've seen basic herbal teas and some other 'beginner market' products on the Thai market already,” said Hempagoda CEO Vaughn Graham.
“This partnership presents an amazing opportunity for both our company and our partners to expand their reach into an emerging regional marketplace for infused products. Thailand is paving the way for neighboring Asian nations to consider the benefits of having hemp and cannabis products available to consumers. We’re excited to be the first American company to have products available in the Thai market," said SōRSE CEO Howard Lee.