Wide Open Agriculture is expanding to Europe and at the same time becoming the world’s largest producer of lupin protein utilised in non-meat, high protein foods.
The company has purchased German lupin producer Prolupin GmbH for $4.1 million, opening up opportunities for WOA to manufacture its Buntine protein in Europe.
The Kewdale, Perth producer plans to invest up to $5 million within two years to increase German factory output to more than 1,000 tonnes a year – transitioning it into the world’s largest lupin protein producer.
CEO of WOA Jay Albany said: “Our key goal as a company is to bring Buntine Protein to market as quickly and cost effectively as possible.
“This acquisition grants us immediate commercial production capacity in Europe, a dynamic environment for the development of plant-based protein products.
“This is a giant leap for WOA, our shareholders and the industry at large.”
Prolupin operates an advanced manufacturing facility that produces the company’s own Prolupin protein isolate, selling it under the Luve trademark for use in products such as no n dairy drinks and yoghurts.
Prolupin has its own patented processing technology which involves splitting the lupine seeds into multiple grain fractions and producing isolates, with protein content accounting for more than 90 percent of the dry matter.
WOA plans for the German plant to produce protein-rich lupin isolates, protein concentrate in wet form and a nutritionally enriched lupin oil.
Marketing will be through a B2B approach, harnessing Prolupin’s existing European customer base.