Wide Open Agriculture ASX WOA US market lupin Buntine Protein
September 18, 2023
Wide Open Agriculture enters US market with novel lupin-based Buntine Protein

In a significant advancement, regenerative food and agriculture company Wide Open Agriculture (ASX: WOA) has sealed two exclusive distribution agreements in the United States.

The agreements are a milestone for the company as it makes its entry into the high attractive American market, with the primary objective of developing a robust commercial foundation for their innovative Buntine Protein.

Recognising the US as a nexus of plant-based food innovation and consumption, WOA perceives this move as a stepping stone into future commercial opportunities.

Positive market reception and initial outreach

Many globally recognised brands call the US home, which is also renowned for its massive purchasing capacity.

Over 150 samples have been provided to customers following WOA’s attendance at IFT in Chicago, North America’s largest B2B Food Innovation Expo.

The almost universal feedback has been praise for its clean taste profile, which supports its wide application in the plant protein market.

The US opportunity

“It has been a goal of mine for some time to bring WOA’s products to the United States,” said Jay Albany, chief executive officer of Wide Open Agriculture.

“This is a market with immense potential for growth. It is the leading market for plant-based food innovation and consumption, has the largest GDP in the world, and has immense purchasing power. With Buntine Protein we have a product with a strong competitive moat to move aggressively into this market.”

The US distribution partners were selected due to their comprehensive sales network and experience in launching new ingredients across the US market.

It is estimated that Buntine Protein will now have sales coverage across 24 states (including California), with work ongoing to secure further distribution agreements for the additional territories.

This news follows WOA’s announcement last Friday, whereby the company partnered with Alchemy Agencies to distribute Buntine Protein in Australia, New Zealand, and the Pacific Islands.

WOA is now gearing up to equip all distribution partners with Buntine Protein samples, marketing tools and sales support.

This sales initiative will focus on a diverse range of prospects including plant-based dairy (milk and cheese), baked goods, protein supplements and other food categories.

Lupin: the next big plant protein?

With an escalating focus on environmental and health considerations, the quest for a superior plant-based protein source is relentless.

Enter lupin – a promising, sustainable alternative, now spotlighted by Wide Open Agriculture’s offering, Buntine Protein.

Lupin beans might be tiny, but they pack a nutritional punch.

Loaded with protein, dietary fibre, and vital minerals, and having an exceptionally low-fat content, they stand out in the legume world.

What further amplifies their allure is the sustainable cultivation through regenerative farming techniques, as lupins sequester nitrogen, enrich the soil and bolster the ecosystem.

“Lupins are a key recovery crop in Australia’s grain cropping system. They have long been known to have a strong nutritional profile, including high protein levels and a tendency to increase vitality in livestock,” said Mr Albany.

“What’s exciting about Buntine Protein is our globally patented process for extracting lupin protein dramatically improves the texture and taste, making it superior to pea, soy, and faba as a food ingredient.”

As WOA steers towards larger commercial production, they’re not just seeking to increase their capacity but also seeking to strategically partner with industry giants to amplify Buntine Protein’s reach.

The aim, as Mr Albany highlights, is clear, “Our goal is to produce a lupin-based protein at a scale previously unseen. We’re positioning ourselves to penetrate large plant-based categories globally, from beverages to noodles and dairy.”

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