Benson Hill, a St. Louis based technology company focused on proprietary phenotyping, predictive breeding and environmental modeling algorithims, is scheduled to become publicly traded. This news comes along with a merger with Star Peak Corp II, which is expected to close in the third quarter of 2021 and values the company at $2 billion.
Benson Hill’s CropOS platform along with data and advanced breeding techniques accelerates the development of soybeans and yellow peas. The company’s focus has been to optimize the plant traits for nutrition, flavor, and yield. For example, in 2021, Benson Hill and its partner growers are working to scale production of ultra-high protein soybean varieties.
Additionally, Benson Hill has a “Fresh” business unit which includes J&J Family of Farms. This is an integrated field produce subsidiary.
Benson Hill was founded in 2012. CEO Matt Crisp will retain his role with the new company. The companies say the transaction was unanimously approved by both Boards of Directors (Benson Hill and Star Peak.).
“At Benson Hill, we believe the natural genetic diversity of plants has untapped potential to make great-tasting food and ingredient choices that are healthier, more sustainable, and more affordable,” Crisp said in the company’s announcement.
“This transaction will empower Benson Hill’s continued rapid growth and commercial expansion, providing access to resources to drive scale by strengthening our proprietary technology platform, growing partnerships across the supply chain, and expanding product commercialization efforts. We believe we are now poised to take Benson Hill to new levels with a partner in Star Peak that shares our commitment to sustainability. We look forward to working closely with the Star Peak team to create value for our shareholders, value chain partners, farmers, and consumers as we help shape the future of food,” he concluded.
