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HomePosts Tagged "Benson Hill"
Agribiotechnology, Agribusiness, Agrotech, Foodgrains, World

Company expects to increase yields of Ultra High Protein Low Oligosaccharides, non-GMO varieties to be within 3 to 5 bushels per acre of commodity GMO soy varieties.

Benson Hill, Inc., an ag tech company unlocking the natural genetic diversity of plants, announced that recent advances in its soybean breeding program will drive the doubling of its seed portfolio by 2025. The latest field evaluations on Benson Hill’s third generation of Ultra High Protein Low Oligosaccharides, non-GMO soybean varieties showed protein gains of 2 per cent over the previous generation and achieved a yield gap of only 3 to 5 bushels per acre, compared with commodity GMO soybeans.

“We’ve successfully demonstrated that CropOS®, our AI-based prediction and data insights platform, can drive our predictive breeding efforts and give us a step-change forward on multiple traits like protein and yield,” said Jason Bull, Chief Technology Officer of Benson Hill. “We are now seeing massive gains in the field that minimize the trade-off between yield and protein, surpassing expectations from when we began building on the high-protein soybean genetics we acquired in 2019.”

“What this means for the industry is that we’re accelerating our speed to market with de-risked, outcome-based products in record time,” Bull added. “We expect to expand our portfolio of seed innovations again in 2025 to offer two dozen varieties that encompass protein, lower indigestible sugars, and quality oil.”

Benson Hill Chief Executive Officer Deanie Elsner also announced at FARMCON 2024 an expansion of its commercially available soybean portfolio for 2024, adding five value-added varieties to its lineup. Benson Hill previously offered about a dozen soybean seed varieties that deliver ultra-high protein, high-oleic and low-linoleic oils, and low-oligosaccharide quality traits. For the 2024 planting season, U.S. soybean farmers can choose from more than 20 varieties across several relative maturity groups.

Benson Hill’s herbicide-tolerant Ultra High Protein soybean varieties are on track for commercial release in 2025, with acreage and further portfolio expansion expected in 2026. This is a major step in providing farmers options for weed control and enabling lower-cost, broadacre production of already advantaged Ultra High Protein soybeans for the feed industry.

By leveraging deep insights on its proprietary soybean germplasm, Benson Hill is strategically positioned to drive seed innovation in broadacre opportunities for the aquaculture, pet food, swine and poultry markets – some 90 percent of the soy market.1 According to Elsner, the recent field evaluations support Benson Hill’s acceleration to an asset-light model focused on partnerships and licensing, including seed.

“Over the last several years, we’ve discovered ways to boost soy protein by 8 to 10 percentage points over commodity, and there are more seed improvements coming in geographies relevant for poultry production,” Elsner told FARMCON attendees “Today, Benson Hill is well positioned to validate our products with customers and end users to create market demand and begin to scale our seed innovations across approximately 7 million acres by 2030.”

Company expects to increase yields of Ultra

Finance

Benson Hill expects 2021 consolidated revenues to be in the range of $145 to $149 million

Benson Hill, has announced that it preliminarily expects 2021 consolidated revenues to be in the range of $145 to $149 million, ahead of the prior guidance of $127 million. On an organic and normalised basis, revenues in the ingredients segment are anticipated to nearly double versus 2020 due to high demand in the proprietary soy portfolio for the food, feed and oil markets and higher prices for yellow pea ingredients. Revenues in the Fresh segment are expected to be relatively flat versus 2020, as higher volumes were nearly offset by pricing pressure due to softness in the fresh produce market.

The Company preliminarily expects a net loss of $126 to $130 million and non-GAAP adjusted EBITDA loss in the range of $80 to $84 million for 2021. Losses were impacted as a result of start-up costs at the recently acquired Seymour facility and lower gross margins, particularly in the Fresh segment.

“Our 2021 preliminary revenue results demonstrate our ability to scale our supply chain and deliver products to meet our customers’ needs,” said Matt Crisp, Chief Executive Officer of Benson Hill.

 The Company expects 2022 consolidated revenues in the range of $315 to $350 million and an adjusted EBITDA loss that is slightly higher than in 2021. The Company anticipates a significant majority of top-line growth to come from the ingredients segment, with revenues of $250 to $275 million. It is expected that $90 to $100 million of revenue will be derived from the addition of the legacy Creston business.

Benson Hill expects improved financial performance in the Fresh segment based on a modest price recovery as the year progresses and a shift to more Company controlled farmed products. As a result, the Company expects 2022 Fresh revenues to be $65 to $75 million.

Benson Hill expects 2021 consolidated revenues to

Finance

Benson Hill will release its financial results for the fourth quarter and full year ending December 31, 2021 

Benson Hill, a provider of crop design platform to develop healthier and more sustainable food and ingredients has announced recently that it will release its financial results for the fourth quarter and full year ending December 31, 2021 and provide guidance for 2022, before market open on March 28, 2022.

The Company will host a webcast to discuss the results at 8:30 am. Eastern Time, including a presentation by management followed by a Q&A session.

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 will release its financial results