Wide Open Agriculture Limited (ASX: WOA, ‘Wide Open Agriculture’ or the ‘Company’) is pleased to announce a series of initiatives aimed at streamlining operations and reducing costs.
Highlights
Wide Open Agriculture has relocated its head office and R&D facility to a new location in Leederville, Western Australia, enhancing access to commercial services and significantly reducing costsThe Company has successfully completed two toll treatment trials at its German facility, producing high-quality plant-based protein productsWOA is actively exploring potential fee-based toll treatment partnerships to strengthen collaboration within the plant-based protein sector, and increase utilisation of its German facilityThe Company remains focused on streamlining operations to support long-term growth and financial sustainability
Relocation and Cost-Saving Initiatives
The Company has relocated its head office and R&D facility from Kewdale to a more strategically positioned location at 2/284 Oxford Street, Leederville, Western Australia. The new Leederville office offers a more cost-effective solution while providing convenient access to key commercial services. The Company has also conducted a review of corporate costs as part of its cost reduction efforts.
WOA is currently reviewing options to relocate the pilot plant to a new facility.
German Facility Update and Operational Review
WOA has conducted a comprehensive review of its German production facility operations and costs, with the goal of improving operational efficiency and to address facility underutilisation to date, caused by a long procurement cycle in the food industry. In line with this review, the Company successfully completed two toll treatment trials for local plant-based protein companies which resulted in the production of high-quality protein products, showcasing the facility’s capabilities to potential customers.
The Company is actively pursuing additional fee-based toll treatment services and fostering commercial relationships with other plant-based protein companies, while it maintains a strict focus on facility costs.
Yaxi Zhan, Non-Executive Chair said; ‘While the Company continues to demonstrate its capabilities in the plant-based protein sector and build its customer pipeline for the Grimmen facility, we will continue to optimise our operations and reduce costs where possible. Our ongoing focus will be on efficiency as we seek to deliver long-term value for our shareholders.”
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