EIB Invests €35M In Greenlight Bio's Next-Gen Biocontrols

2025-02-03 09:07:34

(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 3. The European Investment Bank (EIB) has signed a 35 million euro loan agreement with GreenLight Biosciences España to advance research and production of RNA-based biocontrols, an eco-friendly alternative to chemical pesticides, Trend reports.

The funding will support GreenLight Bio's efforts to develop and register ten new products for plant and bee health in the EU. These include solutions for controlling potato pests, fungi affecting grapes and other crops, and honeybee protection. The loan will also help expand the company's research and innovation center in Seville, Spain.

RNA-based biocontrols are highly targeted, breaking down quickly in the environment without harming beneficial insects or soil health. As the EU phases out hazardous agrochemicals, these solutions offer a sustainable alternative for farmers facing resistance issues and tightening regulations.

EIB Vice-President Gelsomina Vigliotti emphasized the bank's commitment to sustainable agriculture, stating,“This agreement highlights the EIB's support for bioeconomy and innovation in farming.”

The loan is backed by InvestEU, the EU program aimed at mobilizing 372 billion euros in investments. GreenLight Biosciences' Chief Strategy Officer Marta Ortega-Valle welcomed the support, saying it will accelerate efforts to bring nature-based pest control solutions to European farmers.

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