ST. LOUIS, Aug. 18, 2021 /PRNewswire/ -- Benson Hill,
Inc. (the "Company" or "Benson Hill"), a food technology
company unlocking the natural genetic diversity of plants with its
cutting-edge food innovation engine, today announced it has been
selected as winner of the "Overall FoodTech Company of the
Year" award in the 2021 AgTech Breakthrough Awards conducted by
AgTech Breakthrough, a leading market intelligence organization
that recognizes the top companies, technologies and products in the
global AgTech market today. Benson Hill was previously honored in
the awards' inaugural year for "2020 AI-based AgTech Solution of
the Year."
Benson Hill has developed CropOS®, a technology platform that
combines data analytics and artificial intelligence with food
science and plant biology to leverage the vast, untapped natural
genetic diversity within plants to optimize nutrition, flavor
profiles and yield. The proprietary technology can enable the
design of novel seeds that Benson Hill then intends to use to
create food and ingredient options with quality
characteristics such as greater nutrition density and better taste.
The Company also seeks innovative solutions with fewer food
processing steps and reduced reliance on food additives, all while
conserving resources.
The platform uses predictive analytics to simulate millions of
genetic outcomes for plants while referencing an ever-expanding
data library. The technology aims to shave years off the
traditional crop breeding process in order to shorten the time to
market and decreases development costs for new food and ingredient
products.
"It is an honor to be recognized by AgTech Breakthrough for two
consecutive years, which signifies support for our vision to create
food and ingredients that are better from the beginning: for
people, farmers and the planet," said Matt Crisp, Chief Executive Officer of Benson
Hill. "I am incredibly proud of the Benson Hill team, who
together are building the modern and resilient food system of the
future – one that responds to climate change and meets consumer
demand for high-quality, more nutritious, and sustainably made
food ingredients."
Benson Hill's products and integrated model have been designed
to contribute to food system sustainability, establishing
top-to-bottom best practices for the entire food industry.
Evolving beyond the traditional commodity model that functions
at a single level and relies on multiple tiers of data to inform
products, the Company's integrated system is being built to allow
for direct contact at each level of the supply chain, unlocking
environmental and social benefits on the farm and at all stages of
production.
The Company is currently working on a pipeline of soy and pea
products with the potential to significantly reduce off-flavors,
increase protein content and ultimately displace the need for
expensive, energy- and water-intensive processing steps typically
required to produce protein ingredients used in plant-based meat
alternatives.
"Once again, Benson Hill has demonstrated its immense progress
and ongoing potential to address challenges throughout the supply
chain, from plant to plate by leveraging data, AI technology and
insights to help farmers and the food system improve productivity
and reduce environmental impacts," said Bryan Vaughn, Managing Director of AgTech
Breakthrough Awards. "Benson Hill's approach is tailored to meet
consumer demand and link the interests of both growers and
consumers, which has been a historical divide in the food system.
We want to offer our heartiest congratulations to Benson Hill on
winning the 'Overall FoodTech Company of the Year' award for
2021."
The mission of the annual AgTech Breakthrough Awards program is
to conduct the industry's most comprehensive analysis and
evaluation of agricultural and food technology categories,
including Internet-of-Things (IoT) and Artificial Intelligence (AI)
based agricultural technologies, farm management, indoor farming,
food quality, data analytics and many more. This year's program
attracted more than 1,500 nominations from over 15 different
countries throughout the world.
About Benson Hill
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 empowers innovators to
unlock nature's genetic diversity from plant to plate, with the
purpose of creating healthier, great-tasting food and ingredient
options that are both widely accessible and sustainable. More
information can be found at bensonhill.com or on Twitter
at @bensonhillinc.
On May 10, 2021, Benson Hill
announced a definitive business combination agreement with Star
Peak Corp II (NYSE: STPC) ("Star Peak"). Upon the closing of the
business combination, Benson Hill will become publicly traded on
the New York Stock Exchange under the new ticker symbol "BHIL".
Additional information about the transaction can be viewed
at: https://bensonhill.com/investors/ or https://stpc.starpeakcorp.com/.
About AgTech Breakthrough Awards
Part of Tech
Breakthrough, a leading market intelligence and recognition
platform for global technology innovation and leadership, the
AgTech Breakthrough Awards program is devoted to honoring
excellence in agricultural technologies, services, companies and
products. The AgTech Breakthrough Awards program provides a forum
for public recognition around the achievements of AgTech companies
and solutions in categories including farm management, indoor
farming, automation, IoT and robotics, food quality, analytics and
more. For more information visit AgTechBreakthrough.com.
Additional Information
This communication is being
made in respect of a proposed merger (the "Merger") and related
transactions (the "proposed transactions") involving Star Peak and
Benson Hill. The proposed transactions will be submitted to
stockholders of Star Peak for their consideration and approval at a
special meeting of stockholders. In addition, Benson Hill will
solicit written consents from its stockholders for approval of the
proposed transactions. In connection with the proposed
transactions, Star Peak has filed a Registration Statement on Form
S-4 (the "Registration Statement") with the Securities and Exchange
Commission (the "SEC"), which includes a proxy statement to be
distributed to Star Peak stockholders in connection with Star
Peak's solicitation for proxies for the vote by Star Peak's
stockholders in connection with the proposed transactions and other
matters as described in such Registration Statements and a
prospectus relating to the offer of the securities to be issued to
Benson Hill's stockholders in connection with the completion of the
Merger. After the Registration Statement has been declared
effective, Star Peak will mail a definitive proxy statement /
prospectus and other relevant documents to its stockholders as of
the record date established for voting on the proposed
transactions. Investors, Star Peak's stockholders and other
interested parties are advised to read, when available, the
preliminary proxy statement, and any amendments thereto, and the
definitive proxy statement in connection with Star Peak's
solicitation of proxies for its special meeting of stockholders to
be held to approve the proposed transaction because the proxy
statement / prospectus will contain important information about the
proposed transaction and the parties to the proposed transaction.
Stockholders will also be able to obtain copies of the proxy
statement / prospectus, without charge, once available, at the
SEC's website at www.sec.gov or by directing a request
to: Star Peak Corp II, 1603 Orrington Avenue, 13th Floor,
Evanston, Illinois 60201.
No Offer or Solicitation
This communication does not
constitute an offer to sell or the solicitation of an offer to buy
any securities, or a solicitation of any vote or approval, nor
shall there be any sale of securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. No offering of securities shall be made except by
means of a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
Participants in the Solicitation
Star Peak and Benson
Hill and their respective directors, executive officers, other
members of management, and employees, under SEC rules, may be
deemed to be participants in the solicitation of proxies of Star
Peak's stockholders in connection with the proposed transaction.
Information regarding the persons who may, under SEC rules, be
deemed participants in the solicitation of proxies in connection
with the proposed transaction, including a description of their
direct or indirect interests, by security holdings or otherwise, is
set forth in the Registration Statement that has been filed with
the SEC by Star Peak, which includes the proxy statement /
prospectus for the proposed transaction. Information regarding the
directors and executive officers of Star Peak is contained in Star
Peak's filings with the SEC, and such information is also in the
Registration Statement that has been filed with the SEC by Star
Peak, which includes the proxy statement / prospectus for the
proposed transaction.
Forward-Looking Statements
Certain statements in this communication may be considered
"forward-looking statements" within the meaning of the "safe
harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements generally
relate to future events or Star Peak's or Benson Hill's future
financial or operating performance. These forward-looking
statements include, but are not limited to, statements regarding
estimates and forecasts of other financial and performance metrics
and projections of market opportunity. In some cases, you can
identify forward-looking statements by terminology such as "may,"
"should," "expect," "intend," "will," "estimate," "anticipate,"
"believe," "predict," or the negatives of these terms or variations
of them or similar terminology. Such forward-looking statements are
subject to risks, uncertainties, and other factors which could
cause actual results to differ materially from those expressed or
implied by such forward-looking statements. These forward-looking
statements are based upon estimates and assumptions that, while
considered reasonable by Star Peak and its management, and Benson
Hill and its management, as the case may be, are inherently
uncertain factors that may cause actual results to differ
materially from current expectations include, but are not limited
to: 1) the occurrence of any event, change or other circumstances
that could give rise to the termination of the definitive merger
agreement with respect to the business combination; 2) the outcome
of any legal proceedings that may be instituted against Star Peak,
the combined company or others following the announcement of the
business combination and any definitive agreements with respect
thereto; 3) the inability to complete the business combination due
to the failure to obtain approval of the stockholders of Star Peak,
to obtain financing to complete the business combination or to
satisfy other conditions to closing; 4) changes to the proposed
structure of the business combination that may be required or
appropriate as a result of applicable laws or regulations or as a
condition to obtaining regulatory approval of the business
combination; 5) the ability to meet the New York Stock Exchange's
listing standards following the consummation of the business
combination; 6) the risk that the business combination disrupts
current plans and operations of Benson Hill as a result of the
announcement and consummation of the business combination; 7) the
ability to recognize the anticipated benefits of the business
combination, which may be affected by, among other things,
competition, the ability of the combined company to grow and manage
growth profitably, maintain relationships with customers and
suppliers and retain its management and key employees; 8) costs
related to the business combination; 9) changes in applicable laws
or regulations; 10) the possibility that Benson Hill or the
combined company may be adversely affected by other economic,
business and/or competitive factors; 11) Benson Hill's estimates of
its financial performance; 12) the impact of the COVID-19 pandemic
and its effect on business and financial conditions; and 13) other
risks and uncertainties set forth in the sections entitled "Risk
Factors" and "Cautionary Note Regarding Forward-Looking Statements"
in Star Peak's Annual Report on Form 10-K for the year ended
December 31, 2020, filed with the SEC
on March 31, 2021, in the
Registration Statement containing the proxy statement / prospectus
relating to the proposed business combination, and other documents
filed or to be filed with the SEC by Star Peak. Nothing in this
communication should be regarded as a representation by any person
that the forward-looking statements set forth herein will be
achieved or that any of the contemplated results of such forward
looking statements will be achieved. There may be additional risks
that Star Peak and Benson Hill presently do not know or that Star
Peak and Benson Hill currently believe are immaterial that could
also cause actual results to differ from those contained in the
forward-looking statements. You should not place undue reliance on
forward-looking statements, which speak only as of the date they
are made. Neither Star Peak nor Benson Hill undertakes any duty to
update these forward-looking statements, except as otherwise
required by law.
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SOURCE Benson Hill
