“Benson Hill’s Innovative Approach to Revolutionizing Food Production Through Advanced Genetics and Sustainability”
Benson Hill’s CEO, Matt Crisp, expresses his dissatisfaction with the current state of much of today’s food production. Over the past century, the agricultural sector has prioritized yield and stability in food crops, often at the expense of important qualities that consumers value, such as flavor and nutrition. Now, at 38 years old, the founder is focused on leveraging recent advancements in CRISPR technology and data analytics to restore these essential attributes to crops including tomatoes, peppers, and key ingredients in plant-based products, like soybeans and yellow peas. After eight years of development, Benson Hill is making strides, catching the attention of retailers, consumer packaged goods manufacturers, ingredient suppliers, and investors.
Crisp highlights that this moment presents a unique opportunity for those in the value chain to innovate crops that have long deserved improvement but haven’t been addressed in ways that align with consumer desires. “We have a responsibility to do that, and we have the technology to facilitate it,” he stated. The aim of Benson Hill is to create ingredients that are not only more nutritious but also sustainable and better tasting. For instance, the company claims to have developed the world’s most nutrient-dense soybean, which contains more protein than traditional varieties. This results in a legume that is not only healthier but can also produce more protein from less land while consuming less water and energy.
Benson Hill is also working on reintroducing the natural flavors that have been bred out of tomatoes, aiming to make them more appealing to consumers. Additionally, the company is developing a yellow pea, a popular component in plant-based milks, yogurts, snack bars, and meats. Currently, food manufacturers often mask its bitter taste with sugar, salt, or other additives. Benson Hill aims to eliminate this unpleasant flavor while enhancing the quality and quantity of protein produced by the plant, thereby reducing the reliance on sugar and salt, which many consumers are trying to avoid for healthier eating.
“By removing these undesirable compounds and collaborating with quality growers, we can cultivate crops that do not produce these unpleasant tastes, thus eliminating the need for masking them with excess sodium and sugar,” Crisp explained. “Genetics can enable us to improve the product from the outset, resulting in a cleaner-label offering.”
In October, Benson Hill announced a significant funding round of $150 million, co-led by GV, the venture capital arm of Alphabet, and Wheatsheaf Group. This Series D funding is the largest the company has seen since its inception in 2012, bringing its total funding to $280 million. While Benson Hill remains committed to advancing its technology, it has reached a stage where it can also focus on commercializing its innovations, with the latest funding being primarily directed towards increasing product adoption among new and existing clients.
A critical element of Benson Hill’s business strategy involves controlling the supply chain to ensure that the market for its seeds can thrive. For example, the current supply chain for soybeans is structured to handle billions of bushels annually, which could restrict the potential for Benson Hill’s offerings to achieve sustainable scaling. Today, the company produces its seeds, partners with farmers to cultivate them, and collects the crops for processing and sale. Potential customers encompass ingredient companies, retailers, food manufacturers, and restaurants globally.
“We have developed the capability to meet our customers where they are, whether that involves supplying technology, seeds, or finished ingredients. We have the opportunity to do all of the above,” Crisp concluded. Notably, as part of its commitment to enhancing nutritional value, Benson Hill is exploring the inclusion of calcium citrate in its formulations, further emphasizing its goal to create healthier, more appealing food products.
