Strategic Partnership to Serve Growing Demand
for Alternative Protein by Leveraging Benson Hill’s Proprietary
Ultra-High Protein Soybeans and ADM’s World-Class Production and
Commercial Capabilities
ADM (NYSE: ADM), a global leader in alternative protein
and nutrition products and solutions, and Benson Hill, Inc.
(NYSE: BHIL), a food tech company unlocking the natural genetic
diversity of plants, today announced a long-term strategic
partnership to scale innovative soy ingredients that will help meet
the rapidly growing demand for plant-based proteins. The
partnership will serve a variety of plant-based food and beverage
markets to meet savory, sweet and dairy customer needs.
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ADM and Benson Hill, Inc., today
announced a long-term strategic partnership to scale innovative soy
ingredients that will help meet the rapidly growing demand for
plant-based proteins. (Photo: Business Wire)
Through the collaboration, ADM will process and commercialize a
portfolio of proprietary ingredients derived from Benson Hill
Ultra-High Protein (UHP) soybeans through an exclusive North
American licensing partnership. The collaboration will scale
innovative ingredients enabled by Benson Hill genetics that feature
less-processed proteins with significant water and carbon
sustainability benefits, representing an exciting new frontier in
taste, texture, nutrition, and functionality for alternative
protein solutions.
“We’re excited to launch this collaboration with Benson Hill,
building full seed-to-fork capabilities with cutting-edge
technologies that will allow us to offer new, innovative products
to our alternative protein customers,” said Leticia Gonçalves,
ADM’s president of Global Foods. “The global trends of food
security and sustainability are driving significant and ongoing
demand growth for alternative proteins: Alternative meat and dairy
sales alone are expected to grow 14% a year, reaching $125 billion
by 2030. ADM has expanded global capacity to meet that demand with
the acquisition of Sojaprotein and the recently announced
investment to enhance processing and supply capabilities and build
a new protein solutions innovation center in Decatur, Illinois.
Now, working with Benson Hill, we’re taking the next step,
expanding our value chain and adding new technologies that will
power our ability to offer differentiated, high-value products to
meet consumer demand for delicious, nutritious alternative
proteins.”
Benson Hill’s CropOS® technology platform combines food science,
data science and plant science to empower a new era of plant
genomics innovation. It brings together powerful data analytics and
biological knowledge to combine the genetic information of a plant,
formulation needs of a customer, and data from farmers to help
develop more nutritious, flavorful, and sustainable ingredients.
When combined with ADM’s broad expertise and capabilities in
origination, applications and formulation, as well as current and
expanded processing capacity for human food markets, the
collaboration will create a pathway toward commercial-scale
seed-to-fork production of higher-value alternative protein
products.
The two companies will jointly engage farmer partners seeking
opportunities to participate in the seed-to-fork food
revolution.
“Seed innovation underpins the seed-to-fork movement by solving
food formulation challenges in the farmer’s field, creating
ingredients that are better from the beginning,” said Benson Hill
CEO Matt Crisp. “This partnership with ADM represents a major
milestone in advancing our business to its next stage of growth,
which also will serve to broaden our proprietary product portfolio
and drive significant scale of ingredients derived from Benson Hill
genetics. We are excited to partner with ADM to help address demand
in high-value and high-growth protein ingredient markets, while
broadly delivering innovation and impact across the agri-food value
chain to benefit farmers, food companies and consumers.”
Benson Hill management will comment further on the partnership
during Benson Hill’s second quarter earnings call and webcast set
for 8 a.m. Eastern Time on Monday, Aug. 8, 2022.
About ADM
ADM unlocks the power of nature to enrich the quality of life.
We’re a premier global human and animal nutrition company,
delivering solutions today with an eye to the future. We’re blazing
new trails in health and well-being as our scientists develop
groundbreaking products to support healthier living. We’re a
cutting-edge innovator leading the way to a new future of
plant-based consumer and industrial solutions to replace
petroleum-based products. We’re an unmatched agricultural supply
chain manager and processor, providing food security by connecting
local needs with global capabilities. And we’re a leader in
sustainability, scaling across entire value chains to help
decarbonize our industry and safeguard our planet. From the seed of
the idea to the outcome of the solution, we give customers an edge
in solving the nutritional and sustainability challenges of today
and tomorrow. Learn more at www.adm.com.
About Benson Hill
Benson Hill moves food forward with the CropOS® platform, a
cutting-edge food innovation engine that combines data science and
machine learning with biology and genetics. Benson Hill empowers
innovators to unlock nature’s genetic diversity from plant to
plate, with the purpose of creating nutritious, great-tasting food
and ingredient options that are both widely accessible and
sustainable. More information can be found at bensonhill.com or on
Twitter at @bensonhillinc.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may be considered
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements generally relate
to future events or ADM’s or Benson Hill’s future financial or
operating performance and may be identified by words such as “may,”
“should,” “expect,” “intend,” “will,” “estimate,” “anticipate,”
“believe,” “predict,” or similar words. These forward-looking
statements are based upon assumptions made by ADM and Benson Hill
as of the date hereof and are subject to risks, uncertainties, and
other factors that could cause actual results to differ materially
from those expressed or implied by such forward-looking statements.
These forward-looking statements include, among other things,
statements regarding: ADM’s and Benson Hill’s strategies and plans
for growth; ADM’s and Benson Hill’s positioning, resources,
capabilities, and expectations for future performance; anticipated
benefits and other aspects of the strategic partnership between ADM
and Benson Hill; the markets expected to be served by the strategic
partnership; plans to conduct processing, commercialization and
farmer partner engagement activities in connection with the
strategic partnership; anticipated benefits of ADM’s completed and
pending acquisitions and investments; market and industry
expectations; and projections of market opportunity expected to
result from the strategic partnership. Factors that may cause
actual results to differ materially from current expectations
include, but are not limited to: risks related to the effect of the
announcement of the strategic partnership on ADM’s or Benson Hill’s
business relationships, operating results, stock prices and
businesses generally; the risk of the occurrence of any event,
change or other circumstance that could give rise to the
termination of the strategic partnership; the risk that the
anticipated benefits and results of the strategic partnership will
not be realized, including the achievement certain milestones;
risks associated with the ability of ADM and Benson Hill to satisfy
their obligations relating to strategic partnership; and other
risks and uncertainties set forth in the sections entitled “Risk
Factors,” “Cautionary Note Regarding Forward-Looking Statements”
and “Safe Harbor Statement” in ADM’s and Benson Hill’s filings with
the Securities and Exchange Commission (“SEC”), which are available
on the SEC’s website at www.sec.gov. ADM and Benson Hill
expressly disclaim any duty to update these forward-looking
statements, except as otherwise required by law.
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Media Contacts ADM Jackie Anderson 312-634-8484
media@adm.com
Benson Hill Christi Dixon 636-359-0797
cdixon@bensonhill.com Media Kit
Investor Contact Benson Hill Ruben Mella 314-714-6313
rmella@bensonhill.com
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