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Wide Open Agriculture (ASX:WOA) - Managing Director, Ben Cole - The Market Herald
Managing Director, Ben Cole
Source: Wide Open Agriculture
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  • Western Australian regenerative food company Wide Open Agriculture (WOA) has successfully completed pilot-scale production of food-grade lupin protein
  • The successful production at scale brings the company one step closer to creating plant-based protein products and foods
  • Following the trial, WOA has exercised its option to acquire a global commercial licence for Curtin University's patented lupin protein technology
  • WOA will pay royalties to the university when commercial production begins
  • Shares have been trading 2.4 per cent higher at $1.08

Wide Open Agriculture (WOA) has successfully completed pilot-scale production of food-grade lupin protein.

The company is developing the protein isolate for use in a range of food products, including gluten-free and meat alternatives, using lupins grown by WA farmers.

Lupins are nitrogen fixers and are used in regenerative farming systems. They also have a low carbon footprint and are similar to soybeans in their high protein content.

Preliminary taste testing showed the lupin protein to have a neutral taste, boding well for use in a wide range of food products.

Managing Director Dr Ben Cole described the successful pilot trial as the biggest achievement in the lupin project to-date.

"On behalf of the entire WOA team, we would like to acknowledge our dedicated and exceptional research partners who have been critical in progressing this project forward."

"Running the food-grade, pilot-scale trials on schedule, despite the tight restrictions across Melbourne due to the COVID-19 outbreak is testament to the calibre of our partners," he continued.

"We source our lupins from WA’s leading regenerative farmers,
plant-based products continuing to grow rapidly, we believe our lupin protein's eco-credentials will be a key decision-making attribute for consumers."

Following the trial, WOA has exercised its option to acquire a global commercial licence for Curtin University's patented lupin protein technology.

WOA will pay royalties to the university when and if commercial production begins, commencing three years from the starting date of the licence.

The company will continue to test and refine the production process ahead of a techno-economic assessment.

This will support the feasibility study to be conducted by Process Partners, Australia's largest food engineering consultancy, which is due to be completed in early 2021.

Shares have been trading 2.4 per cent higher at $1.08 at 1:09 pm AEDT.

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