Insight
A Bloomberg Intelligence report Shows that by 2030 to 7.7 percent of the global protein market, the vegetable market could yield, with a value of more than $ 235 billion, an increase in US $ 42.7 billion in 2020. Wide Open Agriculture’s Value Proposition Combys technology With the benefits of Lupin to create a series of powerful and sustainable vegetable protein products that can use a flowering market.
Overview
Wide Open Agriculture (ASX:They will beFRA: 2WO) is an AG-Tech company based in Australia, aimed at the next generation of plant protein ingredients for food and drink manufacturers worldwide. The company is aimed at using the benefits of lupine as a sustainable and powerful source of proteins and offers an alternative to traditional vegetable protein products such as soy and pea.
Lupine is increasingly recognized as a valuable vegetable superfood, recognized for their high protein and nutritional fiber content, making them a valuable addition to human food. In the field of sustainability, Lupins can enrich soil fertility, so that more is supported Environmentally friendly agricultural practices. Their role in crop rotation and their nitrogen enlargement options contribute to a reduced dependence on synthetic fertilizers, which promotes better land management and sustainability. The use of protein ingredients based on lupin also helps to improve the environmental references of manufacturers.
The key to WOA’s value proposition is the patented AG-Tech process that turns Lupins into a superfood and produces a protein ingredient with which food manufacturers can improve traditional ingredients and replace it with the need for sugars and other artificial additives. WWAs Buntine protein is a breakthrough product and offers the most neutral tasting vegetable protein Entering ‘clean label’ food and drinking products on the market and food manufacturers. Traditional ingredients based on soy and pea often require extra ingredients, such as sugars and additives, to make them tasty for consumers.
WWA has moved its head office and R&D facility From Kewdale to a more strategically positioned location on 2/284 Oxford Street, Leederville, West -Australia. The new Leederville office offers a more cost -effective solution and offers you easy access to important commercial services. The company has also carried out an extensive assessment of its German production facility activities and costs to improve operational efficiency and to tackle facility underhanded to date caused by a long purchasing cycle in the food industry. WWA completed two toll treatment tests for local vegetable protein companies that resulted in the production of high -quality protein products, with the possibilities of the facility for potential customers.
Highlights of the company
- Wide Open Agriculture (WOA) is aimed at developing cleaner, better quality and more functional alternatives for current vegetable protein sources.
- WWA is planning to use its patented Agritech process to create protein-rich, lupin-based products and ingredients that do not contain additives such as sweeteners, gums and stabilizers that are traditionally used with conventional soy-based or pivot.
- In general, the products made by WWA are cleaner and more functional. The main goal of the company remains to be put to market its lupine protein isolate, called Buntine Protein®, as quickly and costs effectively as possible.
- In the next six to nine months, WWA will collaborate with food companies to market products and to increase production facility of world class in Germany.
Important products and process
Via IP License from Curtin University in 2020, WOA worked on the commercialization of the IP on a scale, which combines the deep knowledge of the company of Lupine -egg extraction and processing. As a result, WWA has developed a series of products that offer a healthier, more sustainable alternative to traditional soy-based or pea-based protein products.
WWA opened a pilot production plant at the beginning of 2023 to produce its environmentally friendly Buntine protein. The technology focuses on a component of Lupin with which it is the ability of the proteins to mix and mix with other food lines.
In October 2023, WWA bought the European Lupine protein isolate producer Prolupin GmbH. The acquisition of $ 4.3 million gives WOA immediate access to production capacity on a commercial scale. Having a foot on the ground in Germany will also help WWA to get his Buntine protein to a wider market. The sale includes the German production facility of Prolupin and the patents to produce the prolupin protein insolate.
The German facility can produce 500 tons per year Lupin protein concentrate with the possibility to extend production to 1,000 tons per year, with an investment of $ 3 to $ 5 million within the next one to two years. Prolupin’s technology will also help in diversifying and improving the Lupin product catalog from WWA, with the ability to produce protein-rich lupine isolates, a protein concentrate in wet shape and a lupine oil.
The own protein ingredients of WOA based on Lupin are successfully integrated into external consumer products in Australia and the US. Chonk Vegan Cookies, sold in Australia, is a gluten-free, egg-free, soy-free and dairy-free treat that uses buntine protein as an ingredient. In the US, WWA’s Prolupin Isolate LP90 is integrated into the Instant Superfood Cappuccino brand from Superitalia.
After an extensive R&D program, the new Lupin fiber product from WOA, designed for the food fiber market that is expected to reach $ 16.3 billion in 2032, is now also ready for commercialization.
This year the company is planning to: 1) to increase sales by working together with international food producers and brands; and 2) Monetize co-products such as Lupin oil and lupine fibers.
Management team
Yaxi Zhan – not – executive director and chairman
Yaxi Zhan is an experienced director with more than 17 years of experience in Startups, large-scale mining activities and ASX-Gentered companies. With strong connections in the Australian and Chinese business communities, Zhan is recognized for its business insight and efficiency in various business and cultural environments. She is the founder and former director of Accelerate Resources Limited (ASX:AX8).
Anthony (MAZ) Maslin – Not – executing director
Anthony Maslin is a visionary and social change visionary, driven by bringing new meaning and hope for environmental and community projects.
Joanne Ford – not – executing director
Joanne Ford is an experienced director and director, with more than 30 years of experience in ASX and international groups, startups and non-profit companies.
Beverley Nichols – Interim Chief Financial Officer
Beverley Nichols is a qualified certified practical accountant with more than 15 years of experience, which serves as the CFO of ASX -exhibited companies in the industry. Her extensive experience in financial reporting, compliance with regulations and financial management will improve the financial activities of the company and support its strategic objectives.
Merilyn Elson – Product strategy and innovation manager
The background of Merilyn Elson is located in the fast-moving consumer goods industry, where she has been working for a manufacturer of a WA family company for more than 30 years.
Hayder Al-Ali-Senior Food Scientist
During the PHD program of Hayder Al-Ali, he worked extensively on optimizing lupine protein extractability, techno functionality and taste.
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