ST. LOUIS — Benson Hill, a meals tech agency, right now introduced the enlargement of its components infrastructure by Getting into Proper into a definitive settlement To buy a soybean crushing facility from Seymour, Indiana-based mostly Rose Acre Farms. The agency said this funding recurrents An monumental milestone Inside the execution of the its progress plan, and Shall be funded by way of the enlargement of Benson Hill’s debt facility with Western Know-how Investment.
Benson Hill’s constructed-in current chain method combines enhanced crop innovation by way of its CropOS technology platform with traceable area to fork manufacturing. This acquisition goals to further solidify the agency’s place Inside The worth chain to assist manufacturing of A strong portfolio of proprietary, non-GMO, id preserved and sustainable soy protein and oil components for the human meals and animal feed markets.
“The acquisition of the Rose Acre Farms soybean crushing facility recurrents An important subsequent step Inside the execution of our playbook for progress,” said Bruce Bennett, president, components at Benson Hill. “This focused funding can finally current the manufacturing performance to ship on our constructed-in enterprise mannequin for enterpriseization and scaling of our revolutionary soybean merchandise, collectively with extremely-extreme protein soybean components.”
Current knowledge tasks that The worth of The worldwide plant protein market might surpass $162 billion by 2030. The power ought to finally have the performance to course of Benson Hill’s proprietary soybean varieties to serve that market, collectively with The primary enterprise plantings of its extremely-extreme protein soybeans, which Shall be harvested this fall. The agency recently introduced it exceeded its goal to double contracted soybean acres, shiping a 133% yr-over-yr enhance for the 2021 rising season. The power Can furtherly proceed to serve current clients.
“This milestone displays proceedd momentum to advance our imaginative and prescient for a extra trendy, resilient and sustainable meals system, starting with seed That is greater from The start,” said Matt Crisp, CEO of Benson Hill. “Coupling manufacturing performance like this with genomic innovation unlocks monumental worth For every farmers and consumers past what has been potential by way of The conventional commodity system.”
“Rose Acre Farms reprimarys dedicated to the native farming group, A worth Benson Hill shares. We’re excited to have found The biggest buyr for our soy course ofing belongings in Benson Hill, An group with which We now have An excellent historic previous of companionship,” said Tony Wesner, chief working officer of Rose Acre Farms. “We look forward to persevering with our companionship with Benson Hill and think about They will proceed to be a useful member of our group. We anticipate this transaction will Finish in worth to our native farmers, notably as alternatives for Benson Hill’s community of farmer companions proceeds to increase.”