Wide Open Agriculture (ASX: WOA) has finalized an exclusive marketing and distribution agreement with Univar Solutions China to sell its food-grade lupin-based proteins in the Chinese market. The initial six-month agreement grants Univar exclusive rights to market, promote, distribute, and sell Wide Open’s LP90 and BP80F proteins in China, with a potential 18-month extension contingent on performance. Univar, the world’s second-largest chemical and ingredient distributor, reported $11.5 billion in sales in 2023 and possesses considerable expertise across key sectors.
Under the terms, Univar must commit to a minimum purchase order volume of 50 tonnes of lupin protein isolate within the first 12 months, following a six-month market preparation period. During this period, Univar is required to identify at least three China-based food and beverage companies that have completed sample production runs using Wide Open’s lupin protein. This strategic alliance aims to target the premium ingredients sector and promote sustainable, clean-label food innovation in China. WOA’s executive chair, Yaxi Zhan, views the Univar deal as a crucial step towards becoming a leading sustainable protein supplier to high-demand markets. Lupin isolate, with proven commercial applications in protein powders and plant-based products, addresses the rising demand for alternative, non-GMO protein sources.
