Wide Open Agriculture

What Wide Open Agriculture does

Wide Open Agriculture (ASX: WOA) is a publicly listed Australian ingredient company that develops and manufactures lupin-based protein isolates, fibre, and oil for sale to global food, beverage, wellness, and beauty manufacturers. Founded in 2015 and headquartered in Leederville, Western Australia, the company converts Australian Sweet Lupins — a pulse with the highest protein content of any pulse or crop (40%) — into functional B2B ingredients using proprietary extraction technology licensed from Curtin University. Its flagship platform centres on Buntine Protein® (BP80F) and LP90, both of which deliver all nine essential amino acids with a PDCAAS digestibility score of 0.96, plus co-product streams (kernel fibre and oil) that enable full bean utilisation. Over 80% of the world's lupins are grown in Western Australia, giving WOA structural proximity to its primary raw material source.

The company's business model is sales-led B2B ingredient distribution: WOA manufactures lupin protein isolates and co-products at its facility in Grimmen, Germany (acquired via Prolupin GmbH in October 2023 for $4.3 million) and sells directly to manufacturers seeking plant-based, clean-label protein solutions. Customer segments include food and beverage manufacturers producing high-protein baked goods, snacks, plant-based dairy and meat alternatives, and cosmeceutical applications leveraging lupin oil's bioactive properties. Pricing is negotiated bilaterally and not publicly disclosed.

WOA is positioned in an early-commercial growth phase, supported by A$12 million in debt facilities from National Australia Bank (March 2023), a pre-feasibility study for a 10,000 tonne per annum Western Australian facility, a recent patent filing for a lupin protein milk formulation, and a CEO transition (April 2026) to Craig Swan, whose prior B2B ingredients experience at Goodman Fielder, Nutrasweet, and Givaudan aligns with the company's commercialisation mandate. The company describes itself as the world's largest lupin-protein producer following the Prolupin acquisition.

Name

Wide Open Agriculture

Legal name

Wide Open Agriculture Ltd

Website

https://wideopenagriculture.com.au

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Wide Open Agriculture (ASX: WOA) is an Australian-listed ingredient company that manufactures lupin-based protein isolates, fibre, and oil at its German facility, selling directly to global food, beverage, wellness, and beauty manufacturers as a B2B supplier.

Ownership category

akta.pro rank

Product category

Plant-Based Protein Ingredients

NAICS

Dry Pea and Bean Farming (111130)

SIC

Canned, Frozen & Preservd Fruit, Veg & Food Specialties (2030)

akta.pro primary industry

Canned Beans, Legumes & Pulses Manufacturing (AFAKACAC)

Keywords

• Plant-based protein ingredients
• Lupin protein isolates
• Food ingredients supplier
• Sustainable protein manufacturing
• Clean-label ingredients

Headquarters

HQ city

Claremont

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Lupin Protein Isolate Sales: WOA manufactures and sells lupin protein isolates (LP90 and BP80F) to food and beverage manufacturers. Products contain all nine essential amino acids, offer excellent digestibility (PDCAAS score of 0.96), and provide important minerals and vitamins. Revenue is generated through direct ingredient sales to manufacturers creating plant-based products.
2. Lupin Co-Products (Oil and Fibre): Full product utilisation strategy generating revenue from lupin kernel fibre and lupin kernel oil as co-products. These ingredients serve the food, beverage, wellness, and beauty industries with clean, sustainable, and highly functional solutions.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Wide Open Agriculture is a vertically integrated, B2B ingredient company that transforms Australian sweet lupin beans into high-quality plant-based protein isolates (LP90 and BP80F/Buntine Protein), lupin kernel fibre, and lupin kernel oil using proprietary technology licensed from Curtin University. It sells these clean, functional ingredients to global food, beverage, wellness, and beauty manufacturers, and operates manufacturing in Grimmen, Germany through its subsidiary Prolupin GmbH.

Product overview

Wide Open Agriculture (WOA) is a publicly listed ingredient company that manufactures lupin-based ingredients from its facility in Grimmen, Germany. The product portfolio consists of two lupin protein isolates (LP90 and BP80F/Buntine Protein®) designed for different functional applications, along with Lupin Kernel Fibre and Lupin Kernel Oil as co-products that enable full utilisation of the lupin bean. The proteins contain all nine essential amino acids with excellent digestibility (PDCAAS score of 0.96), while the fibre and oil support diverse applications in food, beverage, wellness, and beauty industries. The company also develops various product prototypes including plant-based dairy analogues (cheddar cheese, ice-cream), bakery products (sourdough bread, keto crackers), protein bars and balls, and vegan sauces.

Differentiator

Problem solved

Functional benefit

Brands

• LP90: A lupin protein isolate made from de-oiled lupin using an eco-friendly process. It has neutral flavor, excellent emulsification and solubility, low viscosity, and no heat gelation. Ideal for beverage applications.
• BP80F
• Buntine Protein

Products and services

• LP90 Lupin Protein Isolate A lupin protein isolate made from de-oiled lupin using an eco-friendly process, with neutral flavour, excellent emulsification and solubility, low viscosity and no heat gelation; ideal for beverage and broader food applications.
• BP80F Buntine Protein functionalised lupin protein isolate A proprietary functionalised lupin protein isolate with enhanced gelation, solubility and sensory characteristics, spray-dried for easy incorporation across food and beverage applications; WOA's flagship Buntine Protein (Buntine Protein).
• Lupin Kernel Fibre A largely insoluble fibre co-product with excellent techno-functional properties including water- and oil-binding capacity, solubility, emulsion stability and heat-stable viscosity, with neutral colour and clean taste for food, beverage and digestive health applications.
• Lupin Kernel Oil A golden yellow unrefined oil rich in bioactive compounds including antioxidants, antimicrobial, anti-inflammatory and anti-aging agents, with unsaturated fatty acids especially Omega 6 and 9, suitable for food and cosmetic applications.

Quantifiable outcome

• PDCAAS score of 0.96 indicating excellent protein digestibility
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Roquette: Global leader in plant-based proteins (notably pea) and starches with extensive B2B ingredient sales to food, beverage, and nutrition brands. Directly comparable as a major B2B plant-protein ingredient manufacturer with broad international manufacturing footprint.
• Cargill: Global agricultural commodity processor and ingredient supplier with a sizeable plant-based protein portfolio (soy, pea, wheat). Competes with WOA in supplying protein ingredients to the same food and beverage customer base at far greater scale.
• Ingredion: Major ingredient solutions provider with growing plant-based protein and clean-label ingredients business. Competes with WOA across the food and beverage B2B ingredient customer base.
• ADM: Global agribusiness and major supplier of plant-based protein ingredients (soya, pea, wheat). Competes with WOA at scale in supplying protein ingredients to human nutrition and beverage customers.
• Glanbia: Irish-headquartered nutrition and ingredient group with significant plant-based protein capabilities alongside dairy. Competes with WOA in supplying protein ingredients to nutrition, beverage, and food customers globally.

Direct peers

• AGT Food and Ingredients: Canadian-headquartered processor of pulses (lentils, peas, beans, chickpeas) into ingredient, fractionated protein, and consumer products. Highly comparable to WOA as a pulse-ingredient B2B supplier with a multi-product utilisation strategy.
• Australian Plant Proteins: Australian manufacturer of plant-based protein ingredients from faba beans and other pulses for food and beverage applications. Closest domestic peer to WOA, sharing Australian sourcing and a B2B ingredient go-to-market.
• Cosucra: Belgian specialist in pea protein isolates and chicory inulin ingredients for food, beverage, and nutrition markets. Direct B2B plant-protein ingredient competitor serving the same formulators as WOA.

Emerging players

• Benson Hill: US-listed ingredient technology company developing ultra-high protein soybean and yellow pea ingredients for plant-based food markets. Comparable as a tech-driven, lower-scale protein ingredient challenger competing for similar brand customers.
• Burcon NutraScience: Canadian developer of pea, canola, and sunflower protein ingredients marketed to food and beverage manufacturers. Directly comparable as a small-cap, IP-driven plant protein ingredient company targeting B2B customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCsRbR1gZIeIhRk1mTxVuyLQ
• LinkedInlinkedin.com/company/wide-open-agriculture
• Facebookfacebook.com/wideopenagriculture

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wide Open Agriculture