DeAnn Brunts – CHIEF FINANCIAL OFFICER
While we are not a public company quite yet, our team has been hard at work behind the scenes preparing us for the close of our transaction with STPC. Earlier this morning, we issued our first quarterly earnings release which details our strong quarter over quarter growth. Check it out here! These results demonstrate we are continuing to make significant progress in our strategic initiatives – to position Benson Hill for future success.
We recognize the need to deliver on our value proposition, starting with Ultra-High Protein soy for food. With rapid growth in mind, have pushed forward on the production and commercialization of our innovative soybean ingredient, feed and specialty cooking oil products. Our teams are busy preparing for the impending fall harvest, where we plan to gather the first commercial plantings of our Ultra-High Protein soybeans, which will expand our soy portfolio to offer customers and consumers a non-GMO, traceable and more sustainably made protein ingredient.
In addition to a focus on soybean innovation, three years ago we forecast the emerging market opportunity for yellow pea protein ingredients and started to invest in that market. Our goal in the medium-term is to commercialize a portfolio of enhanced yellow pea ingredients. We are excited to have announced the launch of our advanced yellow pea breeding and commercialization program. This program represents an important next step in the Company’s growth strategy and will enable our team to bring the fast-growing plant-based protein market and the pet food and animal feed markets a portfolio of enhanced, non-GMO yellow pea ingredients. Read more about it here.
We continue to work toward closing our transaction with StarPeak Corp II (STPC) and expect that to close in the coming months.
We will continue to take bold steps to position Benson Hill to offer innovative solutions to fuel the plant-based food revolution.