GreenLight Biosciences Secures €35 Million EIB Loan to Develop Sustainable RNA-Based Pest Control Solutions

GreenLight Biosciences Secures €35 Million EIB Loan to Develop Sustainable RNA-Based Pest Control Solutions

(IN BRIEF) GreenLight Biosciences has received a €35 million loan from the European Investment Bank (EIB) to advance its RNA-based biocontrol products, offering an alternative to chemical pesticides. This funding will support the company’s research and production efforts, with a focus on plant and bee health, including solutions for potato pests, grapevine fungi, and honeybee protection. The loan is backed by InvestEU, part of the EU’s initiative to drive investment in bioeconomy and sustainable agriculture. RNAi solutions are more eco-friendly than traditional agrochemicals, targeting pests without harming beneficial insects or the environment. This collaboration is part of the EIB’s strategic goal to enhance agricultural sustainability and innovation in the bioeconomy sector.

(PRESS RELEASE) LUXEMBOURG, 3-Feb-2025 — /EuropaWire/ — GreenLight Biosciences, a trailblazer in the use of RNA technology for agricultural applications, is making strides in sustainable pest control solutions. The company focuses on RNA-based biocontrol products that offer an eco-friendly alternative to traditional chemical pesticides, supporting regenerative agriculture and safeguarding biodiversity.

In a significant move, the European Investment Bank (EIB) has signed a loan agreement of up to €35 million with GreenLight Biosciences España to back the company’s research and production efforts. The loan will assist GreenLight in advancing its RNA interference (RNAi)-based biocontrol products, which aim to replace harmful chemical pesticides and protect vital ecosystems, including insect populations, honeybees, and soil health.

The loan will help fund GreenLight Biosciences’ research, development, and innovation (RDI) programs, including the registration and production of ten new products targeted at plant and bee health. These products will address critical agricultural issues such as controlling potato pests, preventing grapevine fungi, and ensuring the protection of honeybees. The loan will also support the establishment of GreenLight’s research center in Seville, Spain.

RNAi-based solutions are species-selective, meaning they target specific pests and degrade naturally in the environment, presenting a much-needed eco-friendly alternative to traditional agrochemicals, which have raised concerns due to their environmental and health impacts. RNAi offers farmers a new mode of action as they confront rising pesticide resistance and the EU’s increasing withdrawal of chemical pesticides.

EIB Vice-President Gelsomina Vigliotti expressed enthusiasm for the partnership, saying, “We are pleased to collaborate with GreenLight Biosciences to support RNA-based alternatives to chemical pesticides. This agreement is a prime example of the EIB’s commitment to advancing bioeconomy and agriculture, fostering sustainable practices, and promoting innovation across the agricultural sector.”

The €35 million loan is backed by InvestEU, the EU program designed to mobilize investment to achieve EU policy goals by 2027. The project aligns with the EIB Group’s strategic focus on innovative financing for agriculture and the bioeconomy.

Marta Ortega-Valle, Chief Strategy Officer and co-founder of GreenLight Biosciences, emphasized the importance of the loan, saying, “At GreenLight Biosciences, we believe in providing nature-based pest control solutions to create a more sustainable and resilient food supply. With the support from the European Investment Bank, we can expand our innovative solutions to European farmers.”

The agriculture and bioeconomy sector remains crucial for economic development, food security, and climate resilience. The EIB Group has committed significant resources to supporting these sectors, including a recent €3 billion financing package for agriculture, forestry, and fisheries in Europe, with additional funding from participating financial institutions. This will unlock up to €8.4 billion in long-term investments for the bioeconomy.

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.

Media Contact:

Maite Cordero
m.corderomunoz@eib.org
+34 606 66 82 62

Press Office

press@eib.org
+352 43791

SOURCE: European Investment Bank