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

Subscribe

Be the first with the news that moves the market
  • Regenerative food and agriculture company, Wide Open Agriculture (WOA) has secured 200 kilograms of lupin ahead of its pilot program for its plant-based protein project
  • The lupin was grown by a WA farmer and is currently getting ready to be shipped to the Commonwealth Scientific and Industrial Research Organisation (CSIRO)
  • Once CSIRO receives the lupin it will then produce a food-grade commercial lupin that will be used for testing and developing plant-based meat
  • The upcoming pilot production trial is expected to start in Septemeber
  • On market close, Wide Open is up 21.4 per cent and is trading at 68 cents per share

Regenerative food and agriculture company, Wide Open Agriculture (WOA) has secured 200 kilograms of lupin for its plant-based protein project.

Lupin is a yellow legume seed traditionally eaten in the Mediterranean, Latin America, and North Africa.

The lupin was grown by a Western Australian farmer and will assist in creating a lupin protein technology. The lupin is currently getting prepared to be shipped to the Commonwealth Scientific and Industrial Research Organisation (CSIRO) this month.

Once the CSIRO receives the lupin it will then produce a food-grade commercial lupin that will be used for testing and developing plant-based meat.

The CSIRO and Curtin University have been engaged to develop and commercialise a lupin protein technology.

The CSIRO has already put forward an initial production process using its extensive range of industrial-grade food processing equipment and Curtin University has started the laboratory work to optimise this process.

The upcoming pilot production trial is expected to start in Septemeber.

The project will also look into opportunities to use potential waste streams from the production process.

"Food waste is a significant contributor to climate change, and any by-product could potentially be harnessed to increase the commercial viability of production," Wide Open explained.

The company has also secured Process Partners to help with the data collection and analysis during the upcoming pilot trial.

In Septemeber, Wide Open will be presenting at a global network that includes the world's largest food companies. It is also in early discussions with European and North American food companies regarding its lupin-based technology.

“Our goal of bringing a regenerative, lupin-based protein to the multi-billion-dollar market is developing at a rapid pace," Managing Director Dr Ben Cole said.

"We have identified a multi-skilled team that offers WOA expertise to accelerate this exciting technology from the laboratory, into pilot-scale production and into the commercial realm," he added.

On market close, Wide Open is up 21.4 per cent and is trading at 68 cents per share.

WOA by the numbers
More From The Market Herald
AXA IM completes Australia’s biggest forestry deal in over a decade

" AXA IM completes Australia’s biggest forestry deal in over a decade

AXA IM has acquired 24,000 hectares of woodland in the Australian Green Triangle in a $775 million deal, the company’s first investment into
RotoGro International (ASX:RGI) - CEO, Adam Clode - The Market Herald

" RotoGro International (ASX:RGI) eyes $2.2m for vertical farming

RotoGro International (RGI) has secured firm commitments to undertake a $2.2 million placement.
The Market Herald Video

" Rural Funds Group (ASX:RFF) raises $30m via institutional entitlement offer

Rural Funds Group (RFF) has successfully completed the institutional component of its entitlement offer and raised $30 million.
Rural Funds Group (ASX:RFF) to raise $100m for acquisitions

" Rural Funds Group (ASX:RFF) to raise $100m for acquisitions

Rural Funds Group (RFF) has announced an equity raising for macadamia developments, cattle acquisitions and an accretive water transaction.