ESMC and Benson Hill Partner to Support Midwest Farmers Participation in Agricultural Carbon Markets
ST. LOUIS, March 17, 2022 /PRNewswire/ -- Ecosystem Services Market Consortium ("ESMC"), a non-profit member-based organization launching a national scale ecosystem service market program for agriculture, and Benson Hill, Inc. (NYSE: BHIL) ("Benson Hill"), a food tech company unlocking the natural genetic diversity of plants, today announced the completion of the first year of a carbon credit pilot leveraging Benson Hill's farm to ingredient business model. Over 2021, ESMC executed several successful projects with soy and corn farmers across the Midwest to generate carbon credits and earn payments for reduced greenhouse gases and increased soil carbon as an outcome of their on-farm practice changes. The project with Benson Hill is particularly unique because of the organization's closed loop business model, giving Benson Hill the capability to leverage its data aggregation from the farm through ingredient manufacturing, and streamlines the carbon credit generation process within ESMC's program.
Debbie Reed, ESMC Executive Director, noted, "Our digitized program enables seamless enrollment and participation for farmers. The innovative model we are testing with Benson Hill allows us to develop farmer support from seed to harvest, and it enables rapid aggregation and utilization of robust data sets. This type of integrated partnership and infrastructure is critical to scale a long-term viable market that meets buyer and seller needs equally."
Net-zero carbon commitments are rapidly accelerating across the globe but bridging the complex agricultural supply chain to engage farmers and both accurately and efficiently connect digital data streams can be a challenge for food companies seeking to achieve carbon neutrality. Through strong relationships with its partner farmers, access to their data, and an understanding of their management practices, Benson Hill can identify farmers in its network who are interested in introducing and scaling practices. Once farmers enroll, Benson Hill seamlessly can send ESMC data from the farm so ESMC can quantify credits and arrange third party credit verification. ESMC then makes verified credits available for purchase to interested buyers.
"Benson Hill's partnership really simplified the process for me. Our ongoing work together has provided a lot of added value for my operation and engaging in carbon markets is a great example. Benson Hill packaged up the required agronomic data and soil carbon testing, then all I had to do was review and approve," stated Aaron Lee of Cornerstone Family Farms in Salem, Indiana and a producer in the 2021 pilot.
Benson Hill and ESMC launched the pilot in 2021, and Benson Hill is recruiting growers within its network for training in regenerative agriculture practices for project continuation in the 2022 season.
"Food production is one of the most promising industries to help mitigate climate change, and our work with ESMC demonstrates the value of connecting the farmer to the consumer facilitating increased transparency," said Anthony Kingsley, Sr. Director of ESG and Stakeholder Engagement for Benson Hill. "Through our data identification and collection process, we remove the data barriers faced by farmers enrolling in carbon market programs and facilitate their access to new revenue opportunities."
In 2022, ESMC is targeting 500,000 acres enrollment with market program launch. ESMC's program stacks multiple ecosystem credits, including increased soil carbon and reduced greenhouse gases, and water quality and water use conservation, to make ESMC a unique and attractive option for farmers.
About Ecosystem Services Market Consortium
Ecosystem Services Market Consortium (ESMC) is a non-profit dedicated to scaling sustainable ecosystem services from agriculture. It is a public private partnership of the agricultural supply chain and value chain – including agricultural producer groups and co-ops, major corporate food and beverage companies, agribusiness, conservation NGO's, ag tech companies, land grant universities, and others. ESMC members are collectively investing in and testing ESMC's national scale market program conceived and designed for agriculture. Read more at www.ecosystemservicesmarket.org.
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 nutritious, 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.
Forward-Looking Statements
This news release may contain forward-looking information that involves risks and uncertainties, including statements about Benson Hill's data aggregation capabilities and sustainability efforts. There can be no assurance Benson Hill's data aggregation processes and technology will achieve the benefits described herein, that such benefits can be replicated in any particular manner, or that these sustainability efforts will be successful, benefit Benson Hill and its stockholders, or improve over time. Benson Hill expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements presented herein to reflect any change in expectations or any change in events, conditions, or circumstances on which any such data or statements are based.
Contact: Debbie Reed, ESMC Executive Director ([email protected]) Contact: Melanie Bernds, Director of Communications of Benson Hill, [email protected]
SOURCE Benson Hill
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