WIDE OPEN AGRICULTURE
Wide Open Agriculture (ASX: WOA) is Australia’s leading ASX-listed regenerative food and agriculture company.
The Company has developed a globally patented plant-based protein product – Buntine Protein – made from lupins. Lupin seeds are a type of legume and increasingly seen as a “superfood” due to the following attributes:
significantly more plant protein than quinoa
more fibre than oats
3x as much antioxidants as berries
3x as much potassium as bananas
more iron than kale
Buntine Protein is a versatile protein powder than can be used to create plant-based dairy, meats, baked goods, and protein supplements.
In October 2023, the Company announced a game-changing acquisition to acquire the business assets of ProLupin GmbH – a leading European lupin protein producer based in Grimmen, Germany.
This provides Wide Open Agriculture immediate commercial scale manufacturing capabilities in Europe.
The assets purchased in Germany include an advanced manufacturing facility, patents to produce the ProLupin protein isolate, the “Luve” trademark, inventory of finished ProLupin protein products and supply of raw materials including lupins.
The acquisition enables Wide Open Agriculture to gain an immediate operational footprint in Europe, with ProLupin’s facility to be modified to produce WOA’s Buntine Protein. The facility is expected to reach 1,000 tonnes per annum of production in the near term.
The German facility will focus on a Business-to-Business centric approach and leveraging ProLupin’s already established network in the European plant based dairy market to supply global ingredient and food manufacturing companies.
The Company has also secured two exclusive Distribution Agreements in the United States to promote and establish a commercial market for Buntine Protein. The US market is considered a huge opportunity due to its leadership in plant-based protein innovation, high consumption levels, considerable purchasing power and immense growth potential.
In Australia, Wide Open Agriculture also has significant regenerative food brand “Dirty Clean Food” which includes branded products as Oat Milk and dairy products. These are stocked across Australia with major retailers such as Woolworths.
The Australian Food and Beverages division recorded A$11.5 million in sales for the 2023 financial year, representing over 17% Year on Year annual growth.
Wide Open Agriculture is committed to a strong ESG framework and transparent corporate governance reporting and procedures. The Company is also the first global listed company to adopt a “4 returns” framework established and managed by major shareholder and Netherlands based Commonland Foundation. The Company’s constitution recognises the importance of delivering measurable and material positive returns across financial, natural, social, and inspirational aspects of the business and operations.
The Company is also committed to the goals and processes of regenerative agriculture – highlighted by the EU Green Deal as being a vital component of assisting drive down CO2 emissions from farming and agriculture.
In 2023 the Company produced its first annual regeneration report for the 2022 year, with highlights such as the receipt of carbon neutral certification for the Oat Milk brand, reducing the use of plastic packaging by 87% and leading a reforestation project that will plant more than 100,000 new seedlings across 5 farms in Western Australia.
In Germany, Wide Open Agriculture is traded on the Frankfurt Stock Exchange (FSE: 2WO), Tradegate and the Stuttgart Stock Exchange.