Total
0
Shares
Wide Open Agriculture (ASX:WOA) - Managing Director, Ben Cole - The Market Herald
Managing Director, Ben Cole
Source: Wide Open Agriculture
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Wide Open Agriculture's (WOA) shipment of plant-based milk product OatUP has arrived in Western Australia ahead of a state-wide launch
  • OatUP will initially be distributed by local food and beverage merchant, European Foods, with 20 further distribution agreements in the pipeline
  • WOA has coined the product a regenerative and carbon-neutral entrant to the $2.8 billion plant-based milk segment, with oat milk leading the pack as the fastest-growing category
  • WOA expects OatUp's national and eastern state launch to take place in early 2021
  • The milk alternative will be released under the company's food brand, Dirty Clean Food
  • WOA shares ended the day in the grey trading at 96.5 cents

Wide Open Agriculture's (WOA) shipment of plant-based milk product OatUP has arrived in Western Australia ahead of a state-wide launch.

OatUP will initially be distributed by local food and beverage merchant, European Foods, with 20 further distribution agreements in the pipeline including with national retail chain IGA.

WOA has coined the product a regenerative and carbon-neutral entrant to the $2.8 billion plant-based milk segment, of which oat milk leads the pack as the fastest-growing category.

While OatUP is not the first plant-based milk out there, WOA has highlighted the product's carbon-neutral certification - issued by the Australian government-backed initiative Climate Active - as a unique point of difference in a competitive market.

Preparations are underway for OatUp's national and eastern state launch in early 2021 with a Southeast Asian launch planned for the second quarter.

A company spokesperson said they are in early-stage discussions with Eastern State distributors and a number of product samples are being prepared for shipment to potential customers in Southeast Asia.

The milk alternative will be released under the company's food brand, Dirty Clean Food, retailing at $4.99.

Wide Open Agriculture Managing Director Ben Cole spoke of the importance of timing regarding the launch.

"The state-wide launch alongside European Foods will significantly expand the number of restaurants, caterers, venues and cafes with OatUP customers in WA during the Christmas period," he commented.

"The exclusive launch has confirmed the growing appetite for OatUP’s taste, ability to foam and environmental credentials."

WOA shares ended the day in the grey trading at 96.5 cents each.

WOA by the numbers
More From The Market Herald
Wide Open Agriculture (ASX:WOA) - - The Market Herald

" Wide Open Agriculture (ASX:WOA) expands OatUP distribution on strong WA uptake

Wide Open Agriculture (WOA) plans to expand the market for its OatUP product following strong uptake in Western Australia.
Wide Open Agriculture (ASX:WOA) - Managing Director, Ben Cole - The Market Herald

" Wide Open Agricultural (ASX:WOA) further develops lupin protein

A number of early-stage food and drink prototypes have been successfully developed using Wide Open Agriculture’s (WOA) lupin protein.
Graincorp (ASX:GNC) - Managing Director and Chief Executive Officer, Robert Spurway - The Market Herald

" Graincorp (ASX:GNC) reports bountiful half-yearly amid strong demand for Australian grain

Graincorp’s (GNC) share price climbed 6.4 per cent after the company upped its earnings guidance and declared a higher interim dividend for HY21.
Alterra (ASX:1AG) - Chairman, John McGlue - The Market Herald

" Alterra (ASX:1AG) to raise $3.7M for avocado project

Land and water assets developer Alterra (1AG) is set to undertake a $3.7 million capital raising consisting of a placement and entitlement offer.