Wide Open Agriculture pursues global success in a multi-billion dollar sector
A leader in the fast-growing plant-based food sector, Wide Open Agriculture (ASX: WOA) has despatched samples of its patented protein product to six targeted global customers, including ingredient distributors and food and drink companies.
The lupin-based Buntine Protein was developed locally by the Western Australia Wheatfields-based Wide Open Agriculture and is claimed to be superior to other plant-based proteins in terms of taste, functionality, nutrition, and environmental credentials.
Wide Open Agriculture reports that 25 local, Asian, European and North American food and ingredient companies have expressed interest and will receive samples over the next two months.
The potential customers also receive technical guidelines on using Buntine Protein to create plant-based milk, yoghurt and noodle recipes.
“The discussions remain positive based on Buntine Protein’s attributes of high protein, neutral flavour, colour, non genetically-modified status and gelation properties,” the company said.
From pilot plant to full bore facility
While Buntine Protein currently is made at a pilot facility, talks are underway with leading food and ingredient companies in view of commercial-scale manufacturing.
Options include licensing, joint venture or contract manufacturing, but under any route to market Wide Open Agriculture would be careful to protect its intellectual property.
In the meantime, the plant is shifting into ramp-up stage and standard operating procedures have been devised to allow for repeatable daily production.
“We have hit our guidance and optimised the pilot-scale production of Buntine Protein,” Wide Open Agriculture managing director Ben Cole said.
“We are positively engaging with existing and new potential customers to negotiate offtake and partnership agreements.”
Positively impacting farmers and farmland
A specialist in regenerative agriculture, Wide Open Agriculture seeks to develop products based not just on their market potential, but their ability to impact positively on farmers, farmland and regional communities.
Developed with Curtin University, Buntine Protein has a low carbon footprint and is integral to regenerative farming methods.
Buntine Protein is the remit of Wide Open Agriculture’s commercial arm, Dirty Clean Food.
“We are pleased to confirm that early commercial interest has been extremely positive as we aim to take share in a forecast market of US$36 billion (A$53 billion) by 2028,’’ Dirty Clean Food chief executive officer Jay Albany said.