Australian regenerative agriculture company with global ambitions
Updated: Dec 29, 2020
Wide Open Agriculture (ASX: WOA) and (FRA: 2WO) is the world's only listed regenerative agriculture company seeking to deliver a 4 returns outcome - measurable and meaningful returns from financial, natural, social and inspirational metrics. The company is based in Western Australia and also listed on Frankfurt Stock Exchange.
In addition to a long list of benefits for farmers and their crops, regenerative agriculture practices help fight the climate crisis by pulling carbon from the atmosphere and sequestering it in the ground.
The agriculture sector is one of the biggest emitters of CO2, the greenhouse gas (GHG) most responsible for the climate changes occuring to the planet.
Together with forestry and other land use, agriculture is responsible for just under 25% of all human created GHG emissions. Leveraging the mitigation potential in the Agriculture sector is critical in meeting emission reduction targets
Regenerative agriculture is a system of farming principles and practices that seeks to rehabilitate and enhance the entire ecosystem of the farm by placing a heavy premium on soil health with attention also paid to water management, fertilizer use, and more. It is a method of farming that improves the resources it uses, rather than destroying or depleting them. Some of the methods include conservation tillage, biodiversity, livestock rotation, and cover crops, minimal or zero use of chemicals.
Wide Open Agriculture recently achived a fifth consecutive quarter growth increase for the September 2020 period. Its revenue was AUD $764,807 - 34% higher than the June 2020 quarter. For the September 2019 quarter sales were only $199,937 so the trend and increase is significant.
The Managing Director of Wide Open Agriculture, Dr. Ben Cole, said the results were a credit to the "creative and purpose-driven" team and board together with the regenerative farming community and rapidly growing consumer market driven by a desire for fresh, clean, wholesome food.
Regenerative lupin for global markets
Wide Open Agriculture is now one step closer to making a plant-based protein out of lupin. In August 2020, the company detailed its plan to turn Australian lupin into protein, with an eye on the South East Asian market initially and then Europe.
Wide Open Agriculture has teamed up with Curtin University, the CSIRO and Process Partners. Significant optimisation work has been completed by Curtin University. This work includes key processes being smoothed out, such as the reduction in processing steps, confirming key temperatures and confirming protein yields from WA grown lupin. Curtin is now preparing for the testing and validation phase of the food-grade samples from the pilot trials.
Those assessments are progressing and are on track to be completed in late November. These trials have continued despite the tough restrictions in Melbourne due to the COVID-19 outbreak.
The company's recent investor presentation can be downloaded below
State-Wide launch of OatUp
In December 2020. Wide Open Agriculture announced the first commercial shipment of its plant-based milk product "OatUp".
OatUp is is the first-to-market opportunity for a regenerative farmed, carbon-neutral oat milk into the AUD $2.8 billion global plant based milk category. There has already been interest from potential distribution patrtners in Southeast Asia (SEA) - where there is significant interest in WA Oat products.
The Company further announced a distribution agreement with Western Australia's leading speciality food and beverage distributor - European Foods. The access will be up to 500 sales outlets.
The statement to the ASX in relation to OatUp can be downloaded below