• 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.

“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,” said EIB Vice-President Gelsomina Vigliotti. 

The EIB loan is guaranteed by InvestEU, the flagship EU programme to mobilise over €372 billion of additional public and private sector investment to support EU policy goals from 2021 to 2027. The project contributes to the EIB Group strategic priority of supporting innovative financing for agriculture and bioeconomy.

“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,” stated GreenLight Biosciences Chief Strategy Officer & co-founder Marta Ortega-Valle. “With the support of the European Investment Bank, we can expand our efforts to bring these innovative solutions to farmers across Europe.” 

The EIB Group support for the agriculture and bioeconomy

The agriculture and bioeconomy sector is a key contributor to economic growth in the world’s rural and coastal regions. It plays a vital role in food security, healthy diets and resilience to climate change. It is also the backbone for local entrepreneurship, employment and social development in many countries around the world.

At the European Investment Bank Group (EIB Group), we finance projects and invest across the agricultural, fisheries, food, and forestry value chains, focusing on food quality and security, sustainable rural development, climate-smart production, innovation, and resource efficiency. We foster innovative and sustainable bio-resource pathways that are critical for greening the economy. 

Most recently the EIB Group has announced a €3 billion financing package for agriculture, forestry and fisheries across Europe along with moves to bolster farm insurance. The EIB Group loans will be matched by other participating financial institutions, unlocking close to €8.4 billion of long-term investments for the bioeconomy sector.

Background information

EIB

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. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

InvestEU

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.”

GreenLight Biosciences

GreenLight Biosciences is a leader in next generation biocontrols using nature to create a world where plants, people, and the planet can thrive together. The company develops, manufactures, and commercializes highly effective agricultural solutions for farmers and beekeepers that are environmentally friendly and easy to use. Our pipeline includes RNA based products to protect honeybees and a range of fruits and vegetables. The GreenLight platform allows us to research, design, and manufacture across multiple product categories including insecticides, fungicides, and herbicides.