Benson E. Hill

Benson Hill Reports Solid Full-Year 2023 Financial Results, Strengthens Balance Sheet

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Thursday, March 14, 2024

Science, Agriculture, Food Tech, Research, Natural Resources, Technology, Food, Beverage, Retail, Growth, Liquidity, Partnership, Genetics, Asset, Sale, Plant, Retirement, Benson E. Hill, Multimedia

Benson Hill , Inc. (NYSE:BHIL, the “Company” or “Benson Hill”), an ag-tech company unlocking the natural genetic diversity of plants, today announced operating and financial results for the year ended December 31, 2023.

Key Points:

Benson Hill , Inc. (NYSE:BHIL, the “Company” or “Benson Hill”), an ag-tech company unlocking the natural genetic diversity of plants, today announced operating and financial results for the year ended December 31, 2023.
(Graphic: Business Wire)
“2023 marked a year of significant progress and change for Benson Hill,” said Deanie Elsner, Chief Executive Officer of Benson Hill.
“We successfully demonstrated our ability to deliver our financial commitments in addition to taking the necessary steps to strengthen our balance sheet.
“Benson Hill finished 2023 on track and delivered on our projected financial commitments for the year,” said Dean Freeman, Chief Financial Officer of Benson Hill.

White River Soy Processing Purchases Benson Hill Ingredients

Retrieved on:

Wednesday, February 14, 2024

White River Soy Processing, LLC (White River), a developer and operator of oilseed processing plants in the U.S., announced today that it purchased Benson Hill Ingredients, LLC, which operates an established food grade soybean processing facility in Creston, Iowa, from Benson Hill, Inc.

Key Points:

White River Soy Processing, LLC (White River), a developer and operator of oilseed processing plants in the U.S., announced today that it purchased Benson Hill Ingredients, LLC, which operates an established food grade soybean processing facility in Creston, Iowa, from Benson Hill, Inc.
“We are pleased to add another valuable asset to our growing company,” said Walter Cronin, Co-Founder and President of White River.
“Today’s acquisition displays White River’s commitment to our company’s mission to supply better nutritional outcomes to our customers, as well as meet the growing need for high-quality soy protein products,” said Gordon Glade, Co-Founder of White River.
White River, headquartered in Omaha, Neb., separately purchased Benson Hill’s soybean processing facility located in Seymour, Ind., on Oct. 31, 2023, and announced in December 2023 it had been selected to develop an oilseed processing facility near North Platte, Neb.
The company is supported by agricultural-focused investors, and its team has decades of experience in grain processing, from plant operations to risk management and finance.

Benson Hill Successfully Retires Term Loan Facility, Divests Iowa Processing Operation For $72 Million

Retrieved on:

Wednesday, February 14, 2024

Technology, Professional Services, Food, Beverage, Agriculture, Other Science, Natural Resources, Retail, Agritech, Science, Food Tech, Finance, Multimedia, Plant, Flour, WRSP, Benson E. Hill, Employment

View the full release here: https://www.businesswire.com/news/home/20240214185324/en/

Key Points:

View the full release here: https://www.businesswire.com/news/home/20240214185324/en/
Benson Hill has successfully retired its senior debt facility and divested its Creston, Iowa, soy processing business to White River Soy Processing (WRSP) for gross proceeds of $72 million.
(Photo: Business Wire)
The Creston transaction closed Feb. 13, 2024, and is a pivotal step for Benson Hill as it sharpens its focus on core growth areas.
We thank them for their contributions to Benson Hill.”
As a result of the purchase, Benson Hill has transferred to WRSP ownership and all operations related to the Creston soy processing facility, including the established customer base.
A specialty oilseed processor based in Omaha, Neb., WRSP also separately purchased Benson Hill’s Seymour, Ind., crush assets in October 2023.

Benson Hill Announces Chief Financial Officer Transition

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Wednesday, February 14, 2024

Benson Hill , Inc. (NYSE: BHIL), an ag tech company unlocking the natural genetic diversity of plants, today announced that Susan Keefe has been appointed Chief Financial Officer, effective March 29, 2024.

Key Points:

Benson Hill , Inc. (NYSE: BHIL), an ag tech company unlocking the natural genetic diversity of plants, today announced that Susan Keefe has been appointed Chief Financial Officer, effective March 29, 2024.
View the full release here: https://www.businesswire.com/news/home/20240214193445/en/
Benson Hill, Inc. (NYSE: BHIL), an ag tech company unlocking the natural genetic diversity of plants, today announced that Susan Keefe has been appointed Chief Financial Officer, effective March 29, 2024.
Most recently, she served as Chief Financial Officer of GreenLight Biosciences, a biotech and ag tech company specializing in RNA-based solutions for agriculture and human health applications.
“Susan brings a depth of financial acumen to Benson Hill that will be crucial in reshaping the organization during our transition to an asset-light partnership model,” said Deanie Elsner, Chief Executive Officer of Benson Hill.

Benson Hill Announces Date of Fourth Quarter and Full Year Earnings Release

Retrieved on:

Wednesday, February 7, 2024

Science, Other Science, Agriculture, Food Tech, Natural Resources, Technology, Food, Beverage, Retail, Multimedia, Q&A, Plant, Bank statement, Benson E. Hill, Annual report

Benson Hill , Inc. (NYSE: BHIL, the “Company” or “Benson Hill”), an ag tech company unlocking the natural genetic diversity of plants, announced today that it will release its financial results for the full year and fourth quarter ending Dec. 31, 2023, before the market opens on Thursday, March 14, 2024.

Key Points:

Benson Hill , Inc. (NYSE: BHIL, the “Company” or “Benson Hill”), an ag tech company unlocking the natural genetic diversity of plants, announced today that it will release its financial results for the full year and fourth quarter ending Dec. 31, 2023, before the market opens on Thursday, March 14, 2024.
View the full release here: https://www.businesswire.com/news/home/20240207953208/en/
Benson Hill (BHIL) announces full year and fourth quarter 2023 earnings date (Graphic: Business Wire)
The Company will host a webcast to discuss the results at 8:30 a.m. Eastern Time, including a presentation by management followed by a Q&A session.
The March 14 webcast will be posted on Benson Hill’s investor relations website at https://investors.bensonhill.com .
Benson Hill also expects to file its 2023 audited financial statements within its Annual Report on Form 10-K by March 14, 2024.

Heritage Grocers Group Expands Senior Leadership Team, Adds DeAnn Brunts to Board of Directors

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Thursday, February 1, 2024

Growth, Risk management, PwC, Financial management, Initial public offering, Food, MBA, BGS, Small Business Saturday, BSBA, HGG, Benson E. Hill, University, PWC, Management

ONTARIO, Calif., Feb. 01, 2024 (GLOBE NEWSWIRE) -- Heritage Grocers Group (“Heritage” or “HGG”), one of the leading Hispanic food retailers in the country, is pleased to announce it has named DeAnn Brunts as a member of its Board of Directors, effective immediately.

Key Points:

ONTARIO, Calif., Feb. 01, 2024 (GLOBE NEWSWIRE) -- Heritage Grocers Group (“Heritage” or “HGG”), one of the leading Hispanic food retailers in the country, is pleased to announce it has named DeAnn Brunts as a member of its Board of Directors, effective immediately.
With more than 30 years of executive experience in operational, strategic and financial management, Ms. Brunts is a seasoned expert in risk management and governance.
“We are thrilled to bring DeAnn onto HGG’s Board of Directors and look forward to all that her expertise and senior knowledge will bring to the company,” said Doug Sanders, Chairman and CEO of Heritage Grocers Group.
She currently serves on the Board of Directors for B&G Foods Inc. (NYSE:BGS), a position she has held since 2015, Benson Hill (since 2020) and Claire’s Holdings, LLC (since 2021).

Benson Hill Announces Gains in Soybean Breeding Program; Introduces Five 2024 Soybean Varieties Delivering Higher Protein and Improved Yield Potential

Retrieved on:

Thursday, January 4, 2024

View the full release here: https://www.businesswire.com/news/home/20240104431443/en/

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View the full release here: https://www.businesswire.com/news/home/20240104431443/en/
Benson Hill Announces Gains in Soybean Breeding Program; Introduces 5 Soybean Varieties Delivering Higher Protein and Improved Yield Potential (Graphic: Business Wire)
“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.
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.

Benson Hill Announces Third Quarter 2023 Financial Results, Improves 2023 Outlook, and Pays Down Debt

Retrieved on:

Thursday, November 9, 2023

Benson Hill , Inc. (NYSE: BHIL, the “Company” or “Benson Hill”), a food tech company unlocking the natural genetic diversity of plants, today announced operating and financial results for the quarter ended September 30, 2023.

Key Points:

Benson Hill , Inc. (NYSE: BHIL, the “Company” or “Benson Hill”), a food tech company unlocking the natural genetic diversity of plants, today announced operating and financial results for the quarter ended September 30, 2023.
View the full release here: https://www.businesswire.com/news/home/20231109972823/en/
Benson Hill Announces Third Quarter 2023 Financial Results, Improves 2023 Outlook, and Pays Down Debt (Graphic: Business Wire)
“Our team effectively managed a challenging third quarter, addressing some softness in soy crush margins and reduced demand for proprietary products because of market headwinds,” said Deanie Elsner, Chief Executive Officer of Benson Hill.
The impact of open mark-to-market timing differences on the statement of operations and reconciliation of non-GAAP financial measures can be found in the accompanying financial tables.
Management improved its guidance for 2023, driven by expectations for improved performance in the fourth quarter and continued benefits from the Liquidity Improvement Plan.

Benson Hill Transfers Ownership of its Seymour, Indiana, Crush Facility to White River Soy Processing with $36 Million Asset Purchase Agreement

Retrieved on:

Tuesday, October 31, 2023

View the full release here: https://www.businesswire.com/news/home/20231031719096/en/

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View the full release here: https://www.businesswire.com/news/home/20231031719096/en/
Benson Hill Transfers Ownership of its Seymour, Indiana, Crush Facility to White River Soy Processing (Photo: Business Wire)
The agreement represents the completion of an expected milestone as Benson Hill implements cost and operational improvements as part of its Liquidity Improvement Plan.
“Under our ownership the Seymour team has achieved record-breaking safety and production records, and we are extremely grateful for their efforts.
Benson Hill will honor 2023 and 2024 contracts with its farmer partners who deliver grain to Seymour.
The parties also expect to finalize a grain supply and licensing agreement to continue processing Benson Hill’s proprietary soybeans through the facility.

Benson Hill Takes Steps to Strengthen Financial Position and Accelerate Shift to Asset-Light Model Focused on Animal Feed Markets

Retrieved on:

Tuesday, October 31, 2023

Benson Hill , Inc. (NYSE: BHIL, the “Company” or “Benson Hill”), a food tech company unlocking the natural genetic diversity of plants, announced today plans to improve its financial position and accelerate its transition to an asset-light business model with a focused expansion into broadacre animal feed markets, complementing its accomplishments in human food ingredients.

Key Points:

Benson Hill , Inc. (NYSE: BHIL, the “Company” or “Benson Hill”), a food tech company unlocking the natural genetic diversity of plants, announced today plans to improve its financial position and accelerate its transition to an asset-light business model with a focused expansion into broadacre animal feed markets, complementing its accomplishments in human food ingredients.
View the full release here: https://www.businesswire.com/news/home/20231031003477/en/
Benson Hill Takes Steps to Strengthen Financial Position and Accelerate Shift to Asset-Light Model Focused on Animal Feed Markets (Graphic: Business Wire)
“Benson Hill has the agility to persevere.
Based on our ongoing strategic review, we believe the strengthening of our financial foundation, moving to an asset-light business model, and introducing our innovations into attractive broader end markets, is the most feasible path forward for Benson Hill,” said Deanie Elsner, Chief Executive Officer of Benson Hill.
In addition, we are engaged in discussions with potential partners to scale our current proprietary portfolio and product pipeline for large-acre U.S. animal feed and pet food markets.