Wide Open Agriculture Ltd.
0.01
AUD
+0.00
(-9.09%)
Wide Open Agriculture Ltd.
ASX:WOA
(Australian Securities Exchange)
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ROIC.AI
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- Wide Open Agriculture Limited (ASX:WOA) develops, manufactures and commercializes lupin-based protein ingredients for the global food, beverage, wellness and beauty industries; its core products include high-protein lupin protein isolate (LP90 and BP80F), flakes and flours under the Buntine Protein brand, alongside plant-based fibres, oils and bioactive compounds derived from lupin beans using proprietary intellectual property and innovative processing. The Australia-based company, founded in 2015 and headquartered in Leederville, Western Australia, with facilities in Kewdale and Williams, operates through subsidiaries such as Wide Open Plant Protein Pty Ltd and Wide Open Agriculture GmbH, targeting food manufacturers, brands and farmers seeking sustainable, clean-label, high-protein solutions for applications including vegan proteins, plant-based dairy and meat alternatives, baked goods, snacks, protein powders, yoghurts, ice creams and beverages like bubble teas; it serves markets in Australia, Europe, North America, China, Japan and Asia-Pacific with a focus on regenerative agriculture that leverages lupins' nitrogen-fixing properties to enhance soil health and reduce emissions. Recent developments include receipt of Chinese customs approval for exporting high-protein lupin isolate, an exclusive distribution and offtake agreement with Univar Solutions China for up to 50 tonnes initially targeting beverages, a five-tonne order from Univar for bubble teas, an initial collaboration with Japanese trading house Nissei Kyoeki for Buntine Protein entry into Japan, a breakthrough European sales order via WOA Germany in the non-dairy category, a 2023 investment and distribution partnership with UK-based Ingå Group committing approximately A$825,000 to Wide Open Agriculture GmbH, and a A$6.2 million capital raise to acquire German producer Prolupin GmbH's assets for A$4.2 million, positioning the company as the world's largest lupin protein producer with expanded European manufacturing capacity targeting 1,000 tonnes per annum; earlier in 2024, it divested Dirty Clean Food Pty Ltd in a A$1.5 million management buyout to CEO Jay Albany (completed April 2024) to streamline focus on B2B ingredient commercialization.