Key Takeaways
- EIB Loan Agreement: The European Investment Bank (EIB) has signed a €35 million loan with GreenLight Biosciences España to support RNAi-based biocontrol research and production.
- Sustainable Pest Control: RNA-based biocontrols offer a species-selective, environmentally friendly alternative to traditional chemical pesticides.
- EU Policy Alignment: The project is backed by InvestEU, which aims to unlock €372 billion in investments for sustainability and innovation by 2027.
- R&D Expansion: Funding will support the development of ten new products for plant and bee health while financing GreenLight’s innovation center in Seville, Spain.
- Biodiversity and Agriculture Benefits: RNAi solutions degrade naturally, pose minimal risk to pollinators such as honeybees, and help combat pesticide resistance issues.
EIB Funds GreenLight Biosciences to Advance Sustainable Agriculture
The European Investment Bank (EIB) has signed a €35 million loan with GreenLight Biosciences España to accelerate the research, development, and commercialization of RNA-based biocontrol solutions. These species-selective and biodegradable alternatives to chemical pesticides align with the EU’s bioeconomy and agriculture innovation priorities.
Transforming Pest Control with RNA Technology
GreenLight Biosciences is a pioneer in RNA technology for agricultural applications, developing RNAi-based biocontrols that provide an alternative to hazardous agrochemicals. These solutions offer several key advantages:
- Selective Targeting: RNAi molecules are designed to target specific pests, minimizing unintended harm to non-target species.
- Eco-Friendly Degradation: The technology ensures that no harmful residues remain in the environment.
- Resistant-Free Mode of Action: Unlike conventional pesticides, RNA-based biocontrols help address the growing issue of pesticide resistance.
CEO Perspective
Marta Ortega-Valle, Chief Strategy Officer & Co-founder of GreenLight Biosciences, underscored the company’s mission: “At GreenLight Biosciences, we believe that providing farmers with nature-based pest control solutions is key to building a more sustainable and resilient food supply chain. Our platform is not only environmentally friendly but also offers farmers an effective and safe alternative to traditional pesticides. With the support of the European Investment Bank, we can expand our efforts to bring these innovative solutions to farmers across Europe.”
Investment in Research and Innovation
The EIB loan will support research, registration, and production of ten new biocontrol products targeting:
- Potato pest control
- Fungal diseases affecting grapes, fruits, and vegetables
- Honeybee protection and health
Additionally, the funding will contribute to the expansion of GreenLight Biosciences’ research and innovation center in Seville, Spain.
EIB’s Commitment to Sustainable Agriculture
Gelsomina Vigliotti, Vice-President of the EIB, emphasized the institution’s role in promoting bioeconomy investment: “We are very happy to join forces with GreenLight Bio to provide RNA-based alternatives to chemical pesticides. The agreement is a clear example of how the EIB is stepping up its support for bioeconomy and agriculture, fostering sustainable farming practices and driving innovation across the entire agriculture value chain.”
Backed by InvestEU
The loan is guaranteed by InvestEU, the EU’s flagship investment program, which seeks to mobilize €372 billion in public and private sector investments from 2021 to 2027. The initiative prioritizes agriculture, bioeconomy, and sustainable innovation, reinforcing GreenLight’s strategic position within the EU’s agricultural landscape.
1 Comment