To counter rising concerns around the environmental impact of disposable face masks being used to restrict the spread of COVID-19, Australian Primary Hemp (ASX: APH) has launched a new hemp-based face mask which provides 99.9% microbial reduction.
The face masks are reusable, biodegradable and sustainably-sourced with the Company to commence supplying the masks to Australian and international retailers immediately.
Alongside the range of protective masks, Australian Primary Hemp also has an existing range of hemp-infused hand sanitiser which complies with World Health Organisation standards whilst offering fragrant, antiseptic and moisturising properties.
The latest order for hemp-based face masks and sanitiser are valued around $315,000 for the Company, which also offers them through their online store alongside hemp seeds, hemp seed oil and hemp protein.
As a wholesale supplier of Australian-grown hemp, Australian Primary Hemp reported $1.1m revenues in FY20 with a net loss of $5.9m but this included reverse takeover expenses in October 2019 which allowed them to list on the ASX.
The Company has been steadily growing its offtake partners having secured a partnership with Annex Foods in August, valued at $760k.
Hemp, or industrial hemp, refers to the non-psychoactive varieties of the genus of flowing plant cannabis. Unlike marijuana, hemp contains negligible amounts of the THC chemical and has sustainable industrial applications for food, agricultural products and paper.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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