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Wide Open Agriculture Ltd (ASX:WOA)

ALERT: Price-sensitive ASX Announcement for WOA
Current share price for WOA : $0.011 0.001 (10%)+
Announcement
Release
28 Jul 2026 8:27AM
Price at Release
$0.010
Full Release
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Summary
Wide Open Agriculture Ltd (WOA) strategically shifted from owner-operated production in Germany to a contract manufacturing model as part of its 'Building Better Economics' strategy, aiming to lower costs and increase production efficiency. The company began winding down its German operations to cut overheads and received a significant R&D tax rebate. WOA improved its royalty terms with Curtin University, enhancing its financial model for lupin protein production. The company is advancing a pre-feasibility study for a large lupin ingredient facility, while maintaining cash conservation measures. Key board appointments were made to aid in the company’s commercial scaling and transition plans.
Key Points
  • WOA announced the 'Building Better Economics' strategy, transitioning to a capital-light contract manufacturing model.
  • The wind-down of German facilities commenced, aiming to reduce costs and cash burn.
  • Improved royalty terms agreed with Curtin University for lupin protein technology.
  • The company received an R&D tax rebate of A$1,686,579.
  • Cash burn reduction initiatives were implemented, including deferred payments to executives and limited near-term marketing and R&D spending.
  • WOA advanced a pre-feasibility study for a large-scale lupin ingredient facility, targeting a 10,000+ tpa production capacity.
  • WOA held a cash reserve of A$1.274 million at the end of June 2026.
  • WOA continued IP and technology development to support contract manufacturing transition and cost reduction.
  • Board renewal with new appointments to support commercial and scale-up strategies.
  • WOA aims to finalize a contract manufacturing partner within the year.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.