Wide Open Agriculture expands global reach with lupin protein sales

Wide Open Agriculture has secured initial commercial sales and purchase orders for over 5 metric tonnes of lupin protein isolate across five continents, according to an ASX announcement on Monday.

The Australian-listed ingredient company (ASX: WOA) received orders from Tarwi, a European health food brand, a Mexican ingredient distributor, a Latin American distributor focusing on Argentina and Chile, and an Australian food manufacturer.

While the company stated the sales are not financially material, they represent a significant step in commercialisation and validate the global potential of their lupin protein products, which feature high-quality taste, functionality and sustainability credentials.

“Backed by a secure and scalable homegrown lupin supply from Western Australia, we are targeting the premium end of the market while working to bring down production costs through scalable alternatives,” said Yaxi Zhan, WOA's Chairperson.

Tarwi, an established brand in the healthy protein powder market, will launch a reformulated product featuring WOA's high-protein lupin isolate to their 30,000+ Instagram followers. The product will be available online and in health-focused retail stores across Europe.

“We're thrilled to partner with Wide Open Agriculture, whose lupin proteins stood out for their exceptional taste, functionality, and quality in our global evaluation,” said Cata Gorgulho, Tarwi's Managing Director.

These initial sales provide momentum for ongoing negotiations with distributors and food brands in China, Korea, Southeast Asia, Europe, North America and Australia.

WOA's flagship product, Buntine Protein, is manufactured under a globally protected patent and can be used across multiple food categories including plant-based dairy, meats, baked goods and health foods.

Picture: credit WOA's ASX report