- GreenLight Biosciences is a pioneer company in the application of RNA technology for agriculture uses and specifically pest control.
- Innovative RNA-based biocontrol products for plant health are an alternative to traditional chemical pesticides, supporting regenerative agriculture and biodiversity protection.
- The agreement contributes to the EIB Group strategic priority of supporting innovative financing for agriculture and bioeconomy.
- The operation is supported by InvestEU, an EU programme that aims to unlock over €372 billion in investment by 2027.
The European Investment Bank (EIB) has signed a loan of up to €35 million with GreenLight Biosciences España to support research and production of ribonucleic acid interference (RNAi)-based biocontrols. RNAi based biocontrols constitute a sustainable alternative to traditional chemical pesticides, with benefits to biodiversity through low or no impact to naturally occurring insect fauna, honeybees, and the soil.
The EIB loan will support GreenLight Bio’s RDI programmes associated with the research, registration, and production of a pipeline of ten products to be launched in the EU for plant health and bee health applications such as control of potato plagues, control of fungi affecting grapes and other fruits and vegetables, and protection honeybees among others. The loan will also finance the research and innovation centre of Greenlight Biosciences in Seville, Spain.
RNAi solutions for plant health are species-selective and degrade quickly and without trace in the environment offering an eco-friendly alternative to hazardous agrochemical usage, for which there is an urgent need to find suitable alternatives due to the significant impact of these chemicals on health and the environment. Additionally, RNAi offers a new mode of action for farmers that are confronted with increasing number of cases of resistances and active pesticide withdrawals within the EU.