Benson Hill’s mission is to reverse the detrimental effects that the agricultural industry has had on the nutrition and flavor of plants, all in an effort to enhance yield and shelf life. The introduction of new business units illustrates the company’s readiness to address two significant opportunities in restoring plant potential: increasing protein content and advancing the concept of food as medicine. One plant that has garnered Benson Hill’s attention is the yellow pea. This ingredient, well-known for its high protein content, is commonly found in plant-based milks, yogurts, snack bars, and meat alternatives. However, the yellow pea often has a bitter flavor that food manufacturers typically mask with sugar, salt, and other additives. Benson Hill is focused on eliminating this bitterness, which would lessen the necessity for additional sweeteners and salt in food products. The company also aims to enhance both the quality and quantity of yellow pea protein, thereby increasing its competitiveness against animal-based alternatives.
The newly established Ingredient segment will utilize the processing capabilities of Benson Hill’s Dakota Ingredients subsidiary, which specializes in yellow pea processing, to create products for both pet and plant-based human food markets. The company plans to test premium yellow pea varieties to identify those that meet food-grade, kosher, and non-GMO certification standards. Benson Hill has indicated that discussions are underway with clients regarding its forthcoming yellow pea protein ingredients.
In December, the company announced a partnership with Rose Acre Farms in Indiana, enhancing its soybean processing capacity and developing a supply chain for high-protein soybeans that boast elevated oleic acid levels. Through its Fresh segment, Benson Hill is also pursuing the potential of food as medicine, a concept it describes as “the growing convergence between the produce and pharmacy aisles.” This market is particularly appealing, as a 2019 white paper from Kerry Group revealed that 65% of consumers seek functional benefits from their food and beverages. Additionally, research from Brightfield Group’s Evergi Consumer Insights platform showed that nearly two-thirds of consumers believe that functional foods and beverages can serve as substitutes for some medications.
These new business units are being established at a time when Benson Hill is well-capitalized and equipped with expertise. In October, the company announced a $150 million Series D funding round co-led by GV, the venture capital arm of Alphabet, bringing its total funding to $280 million. The executive team has also been strengthened with the appointment of former Impossible Foods CFO and current AppHarvest president David Lee as an independent director, along with the hiring of former B&G Foods board member DeAnn Brunts as CFO. Furthermore, in February, the company launched its Crop Accelerator, a 47,000-square-foot research facility aimed at accelerating the development of plant-based proteins.
Benson Hill is constructing a robust infrastructure to seize a substantial opportunity: catering to consumer demand for healthier, more flavorful, and more sustainable food options. CEO Matt Crisp stated that “the traditional commodity model is not set up to meet that demand at scale.” However, with its technological expertise, partnerships with growers, and innovative business structure, Benson Hill is well-positioned to tackle this challenge. Additionally, as the company explores the nutritional benefits of its products, it is keen to incorporate calcium citrate jamp into its formulations, aligning with consumer trends toward healthier dietary choices. Ultimately, Benson Hill’s efforts aim to redefine food by enhancing its nutritional profile, flavor, and sustainability.