ADM Collaborating with Benson Hill on Soy IngredientsADM Collaborating with Benson Hill on Soy Ingredients
The agribusiness and food tech firm forged a new long-term strategic partnership to scale up production of soy-based protein ingredients.
August 11, 2022
American agribusiness Archer Daniels Midland (ADM) and food technology firm Benson Hill announced this week they have formed a new long-term strategic partnership to scale up production of soy ingredients to meet rising demand for plant-based proteins. The parties plan to develop a range of solutions for food and beverage producers, including savory, sweet, and dairy
“We’re excited to launch this collaboration with Benson Hill, building full seed-to-fork capabilities with cutting-edge technologies that will allow us to offer new, innovative products to our alternative protein customers,” Letica Goncalves, president of Global Foods for ADM, said in a joint press release. “The global trends of food security and stability are driving significant and ongoing demand growth for alternative proteins.”
In the partnership, ADM is slated to process and commercialize a portfolio of proprietary ingredients made with Benson Hill’s Ultra-High Protein (UHP) soybeans through an exclusive North American licensing partnership. The agribusiness and Benson Hill will jointly work with farmer partners to source soybeans.
“This partnership with ADM represents a major milestone in advancing our business to its next stage of growth, which also will serve to broaden our proprietary product portfolio and drive significant scale of ingredients derived from Benson Hill genetics,” said Matt Crisp, Benson Hill’s CEO, in a statement. “We are excited to partner with ADM to help address demand in high-value and high-growth protein ingredient markets, while broadly delivering innovation and impact across the agri-food value chain to benefit farmers, food companies and consumers.”
At the start of 2022, Benson Hill acquired Iowa-based soy flour manufacturer ZFS Creston LLC to expand its processing capabilities. The transaction was valued at $102 million. ADM announced a $300 million expansion project in April to increase production of soy protein concentrate at its Decatur, IL site.
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