Release date: 6 June 2024
Promoter – Financial Intermediary
GREENLIGHT BIOSCIENCES ESPANA SLULocation
Description
The project concerns the research & development, registration, commercialisation and manufacturing of a pipeline of Ribonucleic acid interference (RNAi)-based and other biocontrol solutions for plant health and bee health, addressing challenges for farmers and crop protection such as resistance and residues within the EU or benefitting the EU to be launched between 2024 and 2027.
Objectives
The project could address three main challenges for the farmers and crop protection: resistance, residues and regulation. The promoter proposes an innovative and disruptive formula for agricultural crop protection with reduced soil persistence and may contribute to reducing application or displacing chemicals pesticides classified by the EU as candidates for substitution. It aligns with the EU Green Deal objectives, notably concerning biodiversity and farm-to-fork strategies and targets reducing the use and risk of chemical pesticides, as well as the use of the more hazardous pesticides, by 50% by 2030.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 35 million
Total cost (Approximate amount)
EUR 75 million
Environmental aspects
The promoter's investments concern research, development and innovation activities that are expected to be carried out in existing facilities already authorised for the same purpose and would therefore not require an environmental impact assessment (EIA) under Directive 2014/52/EU (amending 2011/92/EU). Full environmental details verified during appraisal.
Procurement
The promoter is a private company, not operating in the utilities sector and does not have the status of a contracting authority; thus, it is not covered by EU Directives on procurement. However, the promoter's procurement procedures are expected to be in line with EIB guidelines for private sector projects. The EIB will verify details during the project due diligence.
Status
Under appraisal
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).