Wide Open Agriculture

Quarterly Results Presentation

Wide Open Agriculture Limited (ASX: WOA) (the “Company”) is pleased to release its quarterly results presentation dated July 2024.


HIGHLIGHTS:
  • Successful completion in July of our share placement and priority offer raising $7.1m 9gross)
  • Successful adaptation of our technology to produce enhanced pea and fab protein isolates
  • Strategic focus on the development of high value plant-protein ingredients at our German facility
  • Continued to build sales pipeline with attendance at IFT Chicago 2024
  • Completion of the sale and divestment of Dirty Clean Food
  • Successfully integrated lupin protein into third- party products on sale globally

Strategic Refocus Towards Germany

  • The German facility, located close to European food and ingredient companies was acquired in October 2023 along with a highly experienced European team. The facility is capable of producing up to 500tpa of protein isolate.
  • Commercial manufacturing of WOA’s lupin protein isolate has already begun, with the facility also capable of producing other plant protein isolates.
  • The manufacturing facility allows WOA to focus on the manufacture and sale of higher value protein isolate products, which can accelerate our path to future profitably.
  • The 1,700 sqm facility is IFS (International Featured Standard) Progress Food certified. This internationally recognised certification relates to food safety and product quality processes and assists in meeting customer requirements.
  • The German facility provides a commercial scale manufacturing facility enabling us to execute immediately on sales opportunities, whilst also continuing to develop our large-scale sales pipeline.


Click here for the full ASX Release

This article includes content from Wide Open Agriculture, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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