Benson Hill Biosystems, a company developing technology to increase crop yield, is expanding its operations in St. Louis, Missouri
, while maintaining a presence at Research Triangle Park, North Carolina. The company will use an award of Missouri Technology Corporation and private investment funds to conduct research and continue product development.
The Missouri Technology Corporation invested $175,000 in the agricultural biotechnology startup company through its Missouri IDEA Funds. The Missouri Technology Corporation, housed within the Missouri Department of Economic Development, is a non-profit corporation focusing on promotion of entrepreneurship in Missouri and fostering the growth of emerging high-tech companies.
Missouri and the Donald Danforth Plant Science Center in St. Louis offer resources uniquely catered to Benson Hill’s mission, the state Department of Economic Development said. The state’s leadership in the life science industry and startup friendly environment played a key role in the company’s decision to locate here, state officials said.
“Missouri is the place to be for budding tech companies and we’re excited to announce Benson Hill Biosystems as our newest partner,” said Bill Anderson, Acting Executive Director of the Missouri Technology Corporation. “Missouri’s extensive plant science resources and world class talent provides the infrastructure for high tech companies to grow and succeed. And Benson Hill’s decision to locate here further solidifies that.”
In addition to MTC’s investment, Benson Hill Biosystems received an additional investment from BioGenerator, a private entrepreneur support organization and early-stage capital fund based in St. Louis, as well as the Helix Fund, an early-stage plant and life sciences investment fund administered by the St. Louis County Economic Council.
“The team at Benson Hill is world-class and the company’s existing research and industry partnerships position it well for growth,” said Dan Broderick, Vice President of Investments at BioGenerator. “Benson Hill’s expansion in St. Louis will enable the company to take advantage of the region’s unique collection of ag bioscience assets – including preeminent research facilities and talent, startup support, and networks to agtech investors.”