The Western Australian government has delivered a $5 million grant to ASX-listed Wide Open Agriculture (WOA), helping it to establish a production facility for its Buntine Protein enhanced oat milk.
Buntine Protein is WOA’s patented plant-based protein ingredient, made from Australian sweet lupins. The ingredient has been tested in a number of food applications, including noodles, dips, burgers and cheeses, and WOA claims it has highly differentiated performance attributes, such as emulsification, gelation, and solubility qualities.
The new facility will be located in Western Australia and will produce oat milk in a number of different formats, using Buntine Protein. This includes one litre and Ready to Drink formats.
According to a company statement, the new facility will help to drive costs down. “These savings would likely stem from enhanced manufacturing efficiencies, improved supply chain operations, and reductions in tariffs on exports to key markets such as South East Asia. Beyond cost savings, the facility should also speed up the new product development for future product releases,” the statement reads.
WOA CEO, Jay Albany said “We are immensely grateful for the support and trust vested in us by the Western Australian Government. This grant is not only a financial boost, but it’s also a testament to the viability and potential of our high protein oat milk. As we move forward, we’re more excited than ever to see our plans materialise, harnessing this opportunity to champion a new era of sustainable, innovative, and delicious plant-based nutrition.”
WOA is hoping initial production will commence this calendar year, with further expansion across 2024 and 2025.