EIB backs GreenLight Biosciences with €35M loan to replace traditional chemical pesticides using power of RNA 

GreenLight Biosciences España, a biotechnology company pioneering RNA-based solutions for agriculture, announced that it has received a €35M loan from the European Investment Bank (EIB).

The operation is supported by InvestEU, an EU programme that aims to unlock over €372B in investment by 2027.

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States.

It finances investments that contribute towards EU policy goals.

“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,” says EIB Vice-President Gelsomina Vigliotti. 

Fund utilisation

The European Investment Bank (EIB) loan will support GreenLight Bio’s programs to research, register, and produce ten products for plant and bee health.

These products will address problems such as potato pests, fungi affecting grapes and other fruits and vegetables, and protecting honeybees.

The loan will also help build GreenLight Biosciences’ research center in Seville, Spain.

GreenLight Biosciences: RNA-based biological pesticides

GreenLight Biosciences develops and produces effective agricultural solutions for farmers and beekeepers, including RNA-based products designed to protect honeybees and a variety of crops.

Their platform enables the creation of insecticides, fungicides, and herbicides that are safe and easy to use.

The fund will help develop ribonucleic acid interference (RNAi)-based biocontrols.

RNAi-based biocontrols are a sustainable alternative to chemical pesticides and have minimal impact on beneficial insects, honeybees, and soil.

Additionally, RNAi provides farmers with new options to combat rising pesticide resistance and the withdrawal of active ingredients in the EU.

“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,” states GreenLight Biosciences Chief Strategy Officer & co-founder Marta Ortega-Valle.