RNAi-based biocontrols work by triggering a natural gene-silencing process in target organisms. And thanks to their species-selectivity and biodegradability, they are considered to have low environmental impact.
Products are still largely in the research and development pipeline, however, the technology is rapidly advancing, with increasing interest from both public and private sectors.
The EIB has now signed a loan of up to €35 million with GreenLight Biosciences España to support its development of these RNAi-based biocontrols.
The company says 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.
Species-selective and quickly degrading
RNAi solutions for plant health are species-selective and degrade quickly and without trace in the environment, the company says, offering an eco-friendly alternative to hazardous agrochemical usage. 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.
The loan will support GreenLight Bio’s research, registration, and production of a pipeline of 10 products to be launched in the EU for plant health and bee health applications. These include control of potato plagues, control of fungi affecting grapes and other fruits and vegetables, and protection honeybees among others. The loan will also finance a research and innovation centre at the Greenlight Biosciences site in Seville.
“We are very happy to join forces with GreenLight Bio to provide RNA based alternatives to chemical pesticides,” said EIB’s vice president, Gelsomina Vigliotti. “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.”
Public and private sector funding
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.
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.
“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,” said GreenLight’s 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.”
