- EIB provides €20 million to Solynta for developing disease-resistant potato seeds.
- The funding is part of the European Commission's InvestEU programme.
- Solynta's true potato seeds offer better storage and transport than traditional tubers.
- The initiative aims to improve global food security and adapt to climate change.
Investment Overview
The European Investment Bank (EIB) has signed a €20 million venture debt financing agreement with Solynta, a Dutch biotechnology company. This funding aims to accelerate the development of potato varieties with enhanced resistance to disease and climate change.
Innovative Seed Technology
Solynta focuses on using true potato seeds instead of traditional tubers for cultivation. These seeds are lighter, less prone to spoilage during transport and storage, and offer a higher chance of successful harvests, thereby enhancing global food security.
Support and Goals
The EIB's backing is part of the European Commission’s InvestEU programme, which supports innovative projects that align with EU policy priorities. The initiative aims to improve the economics of potato production and contribute to sustainable development goals by reducing the need for crop protection inputs.
Climate and Economic Impact
Solynta's breeding technology, which excludes GMOs, allows for rapid adaptation of potato characteristics to meet various needs, including resistance to diseases like late blight. This contributes to the EU's goals for long-term competitiveness and sustainability in the farming sector.
