- 01WOA signs 3 lupin CM deals India, Vietnam, Indonesia.
- 02Shift to capital-light CM; parallel feasibility.
- 03VLS: exclusive >50t lupin protein; 5-year term; JV option.
Wide Open Agriculture (ASX: WOA) has signed three new non-binding framework agreements with partners in India, Vietnam, and Indonesia to advance the contract manufacturing pathways for its proprietary lupin-based ingredients.
The signing of plant-based protein manufacturers Vietnam LifeScience Company (VLS) and Shree Ram Agro Products (OMN9), as well as West Javanese natural ingredients maker PT Haldin Pacific Semesta, represent further progress on the company’s strategy of shifting to a capital-light contract manufacturing model while managing the timeline for selection of a long-term manufacturing partner by progressing multiple candidates in parallel to technical and commercial feasibility studies.
The VLS agreement includes a conditional clause for the commercial production of more than 50 tonnes of lupin protein isolate in order to become Wide Open Agriculture’s exclusive manufacturer of lupin ingredients for five years, after which the parties will explore potential joint venture opportunities to manufacture large-scale commercial quantities of lupin protein, lupin fibre, and lupin oil.
OMN9 will also discuss potential joint venture opportunities to manufacture large-scale commercial quantities of lupin protein and co-products in India.
Maiden Framework Agreement
The new deals build on a maiden framework agreement announced in August granting Proeon Foods BV exclusive rights to distribute Wide Open Agriculture’s lupin products in India, conditional on approval of commercial production.
Proeon was selected due to its manufacturing footprint in the Netherlands and India, along with its experience in developing, producing, and marketing high-quality plant protein sourced from mung bean and peanut.
Founder Kevin Parekh said lupin was a “genuinely underused crop” and described Wide Open Agriculture’s technology as “some of the most interesting we have seen in the plant protein space”.
Wide Open Agriculture said Proeon would bring “real capability to the table” as the company assesses if it could be the right long-term manufacturing partner for its lupin platform.
Safeguarding Company IP
Wide Open Agriculture has identified more than 95 potential manufacturers and signed more than 12 non-disclosure contracts prior to negotiating framework agreements with a small number of shortlisted prospective partners.
The frameworks are designed to safeguard the company’s intellectual property during detailed technical assessments, commercial feasibility evaluations, and potential production trials while also ensuring that proprietary assets remain protected before and after negotiating final commercial agreements.
Each manufacturer is prevented from producing lupin-based products for itself or any third party during the term of the agreement, nor use Wide Open Agriculture’s processes, know-how, or technical information for any purpose other than manufacturing for the company.
The IP protections are binding and will remain in force for five years beyond the term of any agreement.
Partner Selection Process
Wide Open Agriculture chief executive officer Craig Swan said the new agreements reflected progress in the company’s partner selection process.
“IP protections are now in place with respected manufacturers across three countries, and we can complete technical and commercial feasibility work in parallel, which will then allow us to progress our strategy of producing our lupin ingredients at scale under contract manufacturing,” he said.
“Our approach manages risk and ensures we move forward with speed—we have already established each candidate as a successful and impressive business in its own right, and each has an interest and capability to engage with us to progress our strategy together.
“In the future, we intend to progress to the stage of a definitive agreement with the partner best suited to scale our lupin ingredients.”
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