ST. LOUIS, Mo., Sept. 1, 2021 /PRNewswire/ -- Benson Hill, Inc. (the "Company" or
"Benson Hill") a food tech company
unlocking the natural genetic diversity of plants with its
cutting-edge food innovation engine, today announced a relationship
with CropTrak, a cloud technology solutions company digitally
connecting global food companies' entire supply chains to ensure
efficiency and transparency. The collaboration allows Benson
Hill to accelerate collection of agronomic data to improve product
performance and farm sustainability.
Benson Hill is shaping the future
of food by taking an integrated approach to the food value chain.
Beginning with the seed, the Company links farmers with
consumer-driven food trends and markets. The CropTrak
relationship provides the technological infrastructure to
accelerate this connection and further positions Benson Hill as a leader, providing the
ingredients needed to deliver more healthy and sustainable food and
feed products.
"Our collaboration with CropTrak accelerates in-depth agronomic
data collection from our farmer partners, increasing our ability to
benchmark and provide verifiable sustainability metrics to our
customers and other stakeholders," said Jason Bull, Chief Technology Officer of Benson
Hill. "With this technology infrastructure, we will work to
strengthen our CropOS® data library, continue to
increase profitability for our partner farmers and build valuable
ESG metrics for our food company customers, while also enhancing
transparency and traceability across the supply chain."
The CropTrak platform increases the efficiency to geo-locate
acres contracted by Benson Hill,
collect soil samples and measure protein content, and seamlessly
uploads holistic data directly from existing farm management
information systems and equipment. The information is delivered to
CropOS®, Benson Hill's
technology platform that combines data analytics and artificial
intelligence with plant biology and food science to produce crops
that are optimized for taste and nutrition while maximizing
agronomic performance and assisting in the assessment of
sustainability impacts on the farm.
"By digitally enabling and connecting an entire supply chain
management process, food companies can more seamlessly weave
together the story of their product and certification to defend
against dynamic markets and environmental conditions that may
affect production. We're proud to be working together and to see
Benson Hill adopt the CropTrak
platform in a unique way to deliver on our shared commitment of
providing safe, affordable and sustainable food," said
Aaron Hutchinson, President of
CropTrak.
Through CropTrak, Benson Hill
will have the capability to recommend, measure and assess farmer
conservation and regenerative agricultural practices such as
reduced tillage, cover crops, crop rotation and irrigation methods
to increase soil carbon sequestration. Through an active membership
in the Ecosystem Services Market Consortium (ESMC), Benson Hill is exploring opportunities to ready
its farmer partners for voluntary participation in the evolving
carbon market.
"Agronomic and soil data collection is critical to measure the
impact and outcomes of conservation practices on the farm. Through
their collaboration with ESMC, Benson
Hill is positioning its farmer partners to benefit from
voluntary participation in carbon and ecosystem services markets
through ESMC's national scale market program," said Debbie Reed, ESMC Executive Director.
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). 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 CropTrak®
CropTrak is a cloud technology solutions company that helps
multinational Food, Beverage, Agriculture, and Protein customers to
increase the efficiency, effectiveness, and transparency of their
supply chain management processes and systems. CropTrak's
no-code platform solution removes data silos within and between
companies and suppliers to enable users – from buyers to agronomy
to finance – to make decisions more seamlessly and translate carbon
sequestration into a competitive advantage through highly accurate
and auditable data points that can be tied to supply chain
performance. More information is available at croptrak.com or on
LinkedIn.
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