Wide Open Agriculture Ltd (ASX: WOA) – A New Chapter in Clean Ingredient Innovation with High-Purity Lupin Oil.
- Noel Ong
- Jul 15
- 5 min read
Announcement
High-Purity Lupin Oil: Early Success in Co-Product Trials
Wide Open Agriculture Ltd (ASX: WOA) has announced the successful extraction of high-purity lupin oil from initial processing trials (Figure 1). The milestone represents a significant technical and commercial step forward, offering both a new revenue stream and a path toward maximising the full value of its lupin feedstock.
Figure 1: High Purity Lupin oil extracted from the initial trials (source: WOA)
WOA’s trial results confirmed that a novel low-cost extraction method, free from chemical and heat treatments, retains the bioactive integrity of the oil. This means a higher-quality oil with longer shelf life—features that align with consumer demands in the clean-label and natural skincare market.
More importantly, this new technique is less capital-intensive and more energy-efficient than existing extraction flows. It lays the groundwork for future scalability without requiring significant increases in capex.
The company confirmed that the commercialisation timeline remains aligned with guidance shared at the 2025 AGM and Investor Presentation.
Natural Ingredients for a Global Skincare Market
WOA’s lupin oil is not just a co-product—it’s a potential game-changer in the cosmetics and personal care industry, which is valued globally at over USD $677 billion.
Key bioactive compounds found in the extracted oil include Lutein, β-carotene, Oleic acid, Linoleic acid, and β-sitosterol. These compounds deliver a suite of skincare benefits:
Antioxidant protection against free radicals
Moisturising and barrier support for dry or sensitive skin
Skin brightening to reduce pigmentation and acne scarring
Improved elasticity through collagen stimulation
Anti-inflammatory properties for calming irritated skin
These features position lupin oil as a premium, natural anti-aging and restorative ingredient suitable for a broad range of product formulations.
Building the ‘Whole of Seed’ Model
Lupin oil is envisioned as the first commercialised co-product alongside WOA’s flagship lupin protein isolate. This approach offers strategic benefits—higher revenue per unit of input, shared production costs, and reduced waste.
WOA is concurrently working on extracting other co-products such as gamma conglutin and lupin fibre, advancing its long-term goal of full seed utilisation.
These developments are expected to be incorporated into an upcoming feasibility study, assessing the economic case for full-scale commercial production.
Yaxi Zhan, Non-Executive Chairperson, commented:
“This novel extraction technique, which does not use chemical or heat treatment, preserves the key bioactive compounds in the oil and improves the quality and shelf life of WOA’s current lupin protein isolate product, ensuring delivery of a clean, neutral tasting protein that is increasingly in demand from food and beverage manufacturers.”
Scaling Up: What’s Next?
A larger trial is already in preparation. It will produce sample volumes of lupin oil for customer engagement and market testing across the skincare, personal care, and potentially functional health sectors.
In parallel, the company will continue optimisation efforts to increase production efficiency and support the broader commercial rollout of its lupin-based product suite.
WOA’s strategic expansion from a core protein business to a vertically integrated ingredient platform reflects a vision for clean, regenerative, and commercially sustainable agriculture.
Samso Concluding Comments
An interesting development from Wide Open Agriculture with the development of oils. As someone who was involved in the Sandalwood Oil phenomenon, I am very interested in where this is taking Wide Open Agriculture.
In the age of direct marketing, innovation from companies is going to make the penetration of markets a lot straightforward. Will it mean that the journey will be easier, that is a good question. If WOA can extract value from every part of their production system, it will make me want more of the business.
Lupin oil might sound niche today, but with the right formulation partnerships, WOA could have a compelling product on its hands for a cosmetics sector increasingly leaning toward natural and functional ingredients. I don't know if this will revolutionise the cosmetic industry, but I am happy if they will be part of or add to the existing market.
What will Lupin oil mean in terms of uses...etc will be critical. This will definitely be a good topic for discussion when I next talk to Yazi.
It is very obvious that there is still work ahead—larger trials, feasibility studies, and market validation—but this is the kind of groundwork that turns innovative R&D into an investable reality. I’ll be watching closely to see how this fits into WOA’s bigger goal of building a whole-of-seed, low-impact ingredient platform.
For investors looking at sustainable agrifood companies or the clean beauty supply chain, WOA’s lupin oil initiative is a development worth following. It’s a quiet but meaningful reminder that value often lies in what others throw away—and that’s where WOA might be finding its edge.
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