The Smartest Investors Club
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Smartest Investors Club

Investing

WOA Relocates Headquarters & Enhances German Facility Utilisation

by September 12, 2024
September 12, 2024
WOA Relocates Headquarters & Enhances German Facility Utilisation

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.”

Click here for the full ASX Release

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Satellite Imagery and Gold Exploration
next post
Which Lithium Juniors Have Supply Deals With EV Makers?

You may also like

5 Biggest Clean Energy ETFs in 2024

Cardiol Therapeutics Granted Orphan Drug Designation for its...

Toggle3D.ai Grows Userbase by 70% and Unveils Groundbreaking...

Forum Energy Metals to Present at the AMEBC...

Ex-OpenAI Leader Raises US$1 Billion for Safety-focused AI...

Theia Diamond Drilling Delivers Best Result Yet

PROPOSED NOMINATIONS TO STRENGTHEN WESTERN COPPER AND GOLD’s...

AI Defines 18 New Gold Targets at Music...

High Grade Gold Intercepts Confirm Kpali Discovery

5 Top Weekly TSXV Stocks: Pulsar Helium Flies...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • ‘A fear campaign.’ Students around the world are shocked, scared and saddened...

    • North Korea deploys mystery balloon-like objects to stricken warship, satellite photos show

    • NVIDIA Rallies After Strong Q1, AI Demand Outshines China Export Hit

    • US senators meet with Zelensky in Kyiv as doubt cast over upcoming Ukraine-Russia peace talks

    • Israel’s plan to ‘conquer’ Gaza is leaving Palestinians with little place to go: 5 maps show how

    Categories

    • Business (1,673)
    • Investing (4,999)
    • Politics (7,837)
    • World (6,349)
    • Terms & Conditions
    • Privacy Policy
    • About us

    Disclaimer: thesmartestinvestorsclub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 thesmartestinvestorsclub.com | All Rights Reserved


    Back To Top