WOA’s Lupin Protein Included in Two New Recently Launched Consumer Products
HIGHLIGHTS
- Wide Open Agriculture successfully integrates lupin protein into two recently launched consumer products; one in the Australian baked goods market and the other in the U.S.A plant-based dairy market.
- The newly launched products include CHONK cookies in Western Australia (containing Buntine Protein®) and Superitalia coffee creamer (containing the former Prolupin isolate LP90) available in the U.S.A on Amazon, demonstrating the versatility and consumer reach of lupin protein as an ingredient.
April 22, 2024 - Wide Open Agriculture Limited (ASX: WOA, "Wide Open Agriculture" or the "Company") is pleased to announce the successful integration of Buntine Protein® into a 3rd party consumer product which is now available in the Australian market. This represents the first 3rd party commercial application of Buntine Protein®.
CHONK vegan cookies uses WOA's Buntine Protein® to create a gluten-free, dairy-free, egg-free and soy-free treat that is both sumptuous and sensitive to dietary needs. These cookies are available for sale in Western Australia1 and represent a new venture into the vegan snack market. CHONK cookies is a brand from West Australian based Noshing, a leading vegan food manufacturer in Western Australia.
The second product, from Italian company Superitalia, is a premium coffee alternative that uses the former Prolupin isolate LP90 to make an Instant Superfood Cappuccino. The full range is available on Amazon in the US2. This product provides unique attributes available to customers across the United States in the US$13bn3 coffee substitutes market.
"We are immensely proud to witness the debut of Buntine Protein® in the consumer market, a great result from our team's dedication and the innovative spirit of Wide Open Agriculture," said WOA CEO Matthew Skinner. "These are not just product launches; they are a great leap forward in our mission to deliver sustainable and health-focused food solutions to the global market. We are excited to see how these products will resonate with consumers and pave the way for further innovations."
The launch of these products demonstrates the functional and commercial viability of lupin protein and is consistent with the Company's proposed timeline released in its Investor Presentation of 13 March 2024. The initial volumes required for these products are not material to the Company's overall revenue, however validate the Company's commercial strategy and the functional properties of the Company's lupin protein ingredients.
This announcement has been authorized and approved in accordance with the Company’s published continuous disclosure policy.
For investor, media or other enquiries please contact:
Matthew Skinner
Interim Chief Executive Officer, Wide Open Agriculture Ltd
investors@wideopenagriculture.com.au
About Wide Open Agriculture Ltd
Wide Open Agriculture (WOA) is Australia’s leading ASX-listed regenerative food and agriculture company. Our hero product, Buntine Protein®, is a revolutionary climate-conscious, plant-based protein derived from lupins grown in West Australia. Manufactured under a globally protected patent, Buntine Protein® is a versatile ingredient used to create plant-based dairy, meats, baked goods, and protein supplements. Buntine Protein® is steadily gaining traction among Australian and global food companies, with WOA currently working to scale up commercial production. WOA's Dirty Clean Food brand also caters to eco-conscious consumers from Australia to South-East Asia. Underpinning WOA's entire operations, is a ‘4 Returns’ framework that seeks to deliver measurable outcomes on financial, natural, social, and inspirational returns.
WOA is listed on the Australian Securities Exchange (ASX: WOA) and the Frankfurt Stock Exchange (2WO).
www.wideopenagriculture.com.au
Forward Looking Statements
Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices or potential growth of WOA are, or may be, forward looking statements. Such statements relate to future events and expectations and as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward looking statements depending on a variety of factors. The past performance of WOA is no guarantee of future performance. None of WOA's directors, officers, employees, agents or contractors makes any representation or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward looking statement, or any events or results expressed or implied in any forward looking statement, except to the extent required by law. You are cautioned not to place undue reliance on any forward looking statement. Any forward looking statements in this announcement reflect views held only as at the date of this announcement.
Available at: https://www.chonk.au/ Available at Amazon’s US store: https://www.amazon.com/s?k=superitalia&crid=2FUGSP9PSY29X&sprefix=superitalia%2Caps%2C503&ref=nb_sb_noss_1 https://www.factmr.com/report/727/coffee-substitutes-market