- Management reaffirms commitment to serve broadacre animal feed,
soybean oil, and biofuel markets with additional soy quality
traits.
- Following the introduction of Ultra-High Protein, Low
Oligosaccharide (UHP-LO) soybeans, the Company expects
herbicide-tolerant UHP-LO varieties in 2026, a year sooner than
expected.
- Herbicide-tolerant soybean varieties for biofuel will launch
between 2028 and 2030.
- Scientific advisors anticipate pipeline advancements will
continue to leverage the Company’s core technologies.
Benson Hill, Inc. (NYSE: BHIL, the “Company” or “Benson Hill”),
a seed innovation company, today shared further advancements in its
innovation pipeline to deliver advantaged traits for end users in
larger soy markets, including animal feed, soybean oil, and
biofuels. These innovations, many of which are in field testing
now, uniquely position Benson Hill to redefine U.S. soy for feed
and fuel with new varieties that provide novel benefits across the
agribusiness value chain.
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the full release here:
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Benson Hill, Inc. (NYSE: BHIL), a seed
innovation company, today shared further advancements in its
innovation pipeline to deliver advantaged traits for end users in
larger soy markets, including animal feed, soybean oil, and
biofuels. These innovations, many of which are in field testing
now, uniquely position Benson Hill to redefine U.S. soy for feed
and fuel with new varieties that provide novel benefits across the
agribusiness value chain. (Photo: Business Wire)
“No other seed company is focused on soy quality traits for
specific end markets,” said Deanie Elsner, Chief Executive Officer
of Benson Hill. “With the depth of our soybean data, our
proprietary soy germplasm, and the millions of data points we
analyze, we believe we can solve problems for the soy end user with
unmatched precision and speed. Whether we are creating more
nutritious soybean meal or delivering improved oil, Benson Hill is
poised to elevate the standard for U.S. soy over the next
decade.”
The Company’s focus on optimizing yield, protein, and oil in the
soybean genome addresses the disconnect between current soy
composition and its intended uses. For example, ‘dual value beans,’
soybean varieties that can simultaneously deliver improved soybean
meal with either better quality oil for consumption or improved oil
for the emerging biofuels market, are advancing rapidly in Benson
Hill’s pipeline alongside product candidates that push the limits
of protein and yield.
“The rate at which we’ve increased yield, boosted protein, and
expanded maturity zones since 2019 is far beyond what I have seen
in the industry and is a direct result of our technology and
focus,” said Jason Bull, Chief Technology Officer of Benson Hill.
“Our upcoming innovations are designed to hit purpose-driven
outcomes such as better digestibility, higher feed energy density,
and improved oils. We believe these technology advances will create
significant value downstream.”
To fully unlock that value, Bull outlined three focus areas for
Benson Hill’s pipeline through 2032:
1.
Enhance varieties for near-term impact
in animal feed (projected launches in 2024-2027): By increasing
the yield potential and expanding geographic maturities for its
proprietary genetics grown across the U.S., Benson Hill can deliver
better soybeans for feed applications such as poultry by increasing
the protein and metabolizable energy. Benson Hill recently
validated the benefits of its proprietary soybean meal with
industry leader Perdue Farms. Bull expects the expanded maturities
in the Company’s innovation pipeline to allow more soybean farmers
and seed partners to utilize its proprietary portfolio.
As shared in its Q1 earnings update, the
Company will continue to pursue broadacre expansion in feed and
fuel and expects to broaden its soybean portfolio to approximately
35 varieties by 2025. Non-GMO, Ultra-High Protein
Low-Oligosaccharide (UHP-LO) soybean varieties, destined for animal
feed, are expected to yield on par with elite GMO commercial
varieties by 2026-27, with herbicide-tolerant varieties now slated
for 2026, a year earlier than previously communicated.
Incorporating herbicide tolerance will provide easier weed control
and enable large-acre adoption of Benson Hill UHP-LO varieties in
the coming years.
2.
Improve oil for biofuels and crude oil
soy markets (projected launches in 2028-2030): Benson Hill is
also gearing up to introduce a range of soybean varieties for
biofuels and crude oil applications by the end of the decade. Using
years of field testing and genomic data, researchers recently
identified promising variety candidates in the pipeline that could
serve a total addressable domestic market of approximately 50
million U.S. soybean acres. This initiative underscores the
Company’s commitment to sustainability and highlights how soybeans
can play a role in advancing renewable energy solutions.
3.
Further expand value creation for
animal feed with new soy quality traits (projected launches in 2032
and beyond): Looking further ahead, Benson Hill is aiming to
expand value creation in animal feed with high-yielding soybean
varieties that will feature higher energy density, better protein
quality, improved oil, and reduced anti-nutritional factors, which
can deliver significant downstream benefits for the animal feed
industry.
The strategic advantage for Benson Hill’s soybean seed
advancements lies in its proprietary genetics, CropOS® and the Crop
Accelerator. Today the Company offers 22 commercial soybean
varieties leveraging world-leading germplasm it acquired in 2019.
CropOS, its AI-driven technology platform, unlocks the discovery of
new traits with a dynamic data lake of agronomic and genetic
information. Since 2021, more than 24,000 candidate soybean
varieties have been designed and advanced through CropOS, using
billions of data points that inform a predictive breeding success
rate that rivals top competitors. Benson Hill’s Crop Accelerator, a
state-of-the-art rapid prototyping facility, has enabled plant
breeders to complete more than 200 crop cycles since the facility
opened in 2021. These differentiated core technologies, along with
CRISPR gene editing approaches have led to more than 150 gene edits
to date, equip Benson Hill to make gains in protein, oil, and
end-use traits and stay at the forefront of soy seed
innovation.
Scientific advisors, who regularly review the advancement and
application of these technologies, have validated Benson Hill’s
competitive edge.
“What Benson Hill has accomplished by combining state-of-the-art
computational prediction, best-in-class molecular marker
technology, and the Crop Accelerator technology, and making this
the center of how they do plant breeding, has allowed them to make
genetic gains on complex traits at rates unachievable only a few
years ago,” said Jon Lightner, former Chief Scientific Officer for
Genus PLC and a founding member of the Benson Hill Scientific
Advisory Board (SAB). “It is genuinely revolutionary.”
Gary Fogel, SAB member and Chief Executive Officer of Natural
Selection, Inc. agreed, “Benson Hill continues to impress using
artificial intelligence and machine learning for predictive
modeling in plant breeding. These approaches offer rapid
computational screening of hundreds of thousands of possible plant
development paths, leading to biological insights, and maximized
market opportunity. Novel predicted outcomes are evaluated at an
incredibly fast pace prior to going to the field. This overarching
innovation pipeline revolutionizes trait discovery in plants as
part of an unparalleled, holistic go-to-market strategy.”
About Benson Hill
Benson Hill is a seed innovation company that unlocks nature’s
genetic diversity in soy quality traits through a combination of
its proprietary genetics, its AI-driven CropOS® technology
platform, and its Crop Accelerator. Benson Hill collaborates with
strategic partners to create value throughout the agribusiness
supply chain to meet the demand for better feed, food, and fuel.
For more information, visit bensonhill.com or X, formerly known as
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, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements generally relate to future events or the Company’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
the Company 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 the Company’s
ability to enter new markets and the potential timing of such
entry; statements regarding the Company’s expectations for an
expanded innovation pipeline and additional products, additional
product applications, and the projected timing of commercialization
of such products; the anticipated commercial, nutritional and other
benefits of the Company’s products, including any expectation that
the findings associated with a recent trial can be repeated or
improved upon in the future, including in broadacre application;
statements regarding the benefits of the Company’s technology
platforms; statements regarding the Company’s analysis of its
soybean varieties, including potential applications, benefits and
risk profiles; statements regarding the Company’s ability to manage
and develop its product pipeline; statements regarding the
Company’s plans to expand its innovation pipeline, product
portfolio and acreage; statements regarding the Company’s strategy
and business and growth plans; any projections of market
opportunity; any financial or other projections based upon or
otherwise incorporating judgments or estimates relating to future
performance, events or expectations; and statements regarding the
Company’s strategies, competitive positioning, resources,
capabilities, and expectations for future performance. Factors that
may cause actual results to differ materially from current
expectations include, but are not limited to: risks associated with
the Company’s ability to execute on its business strategy,
including its transition to an asset-light business model; risks
relating to the Company’s ability to continue as a going concern;
risks associated with the failure to realize the anticipated
commercial, nutritional and other benefits of the Company’s
products and product candidates in a timely manner; risks
associated with forecasting potential additional product
applications; risks associated with successfully leveraging the
Company’s technology platforms and achieving their anticipated
benefits in a timely manner; risks associated with the accuracy and
repeatability of feeding trials; risks associated with the
Company’s liquidity improvement plans and other cost saving
measures; risks relating to the accuracy of analyses, including
with respect to the potential characteristics, benefits and risks
of the Company’s soybean varieties and other new products; risks
relating to failed negotiations with regard to strategic partners,
licensing deals, and other potential transactions, including
strategic alternatives; risks relating to entering new markets and
growing market share; risks relating to the animal feed, soybean
oil, and biofuel markets; risks relating to developing and
expanding the Company’s product portfolio; risks relating to
achieving acreage expansion; liquidity and other risks relating to
the Company’s ability to continue as a going concern; risks
associated with the Company’s ability to grow and achieve growth
profitably, including continued access to the capital resources
necessary for growth; risks associated with managing capital
resources; risks associated with the Company’s ability to maintain
relationships with its customers, suppliers and strategic partners,
risks associated with changing industry conditions and consumer
preferences, risks associated with the Company’s ability to retain
key personnel; and other risks and uncertainties set forth in the
sections entitled “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements” in the Company’s filings with the SEC,
which are available on the SEC’s website at www.sec.gov. Nothing in
this press release should be regarded as a representation by any
person that the forward-looking statements set forth herein will be
achieved or that any of the contemplated results of such
forward-looking statements will be achieved, or that any
anticipated timing for such statements or results will be met,
including without limitation, any expectations about the Company’s
operational and financial performance or achievements, and any
expectations regarding the traits, benefits, or potential
commercial success of the Company’s current and anticipated future
soybean varieties. There may be additional risks about which the
Company is presently unaware or that the Company currently believes
are immaterial that could also cause actual results to differ
materially from those contained in the forward-looking statements.
The reader should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. The
Company expressly disclaims any duty to update these
forward-looking statements, except as otherwise required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240716294052/en/
Christi Dixon 636-359-0797 cdixon@bensonhill.com Media
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