- 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 seeds aim to improve food security by using true potato seeds instead of tubers.
- The initiative supports EU goals for sustainable agriculture and climate adaptation.
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Investment Overview
The European Investment Bank (EIB) has signed a €20 million venture debt financing agreement with Dutch biotechnology company Solynta. This investment aims to accelerate the development of potato varieties with enhanced resistance to disease and resilience to climate change. The funding is part of the European Commission’s InvestEU programme.
Innovative Seed Technology
Solynta focuses on using true potato seeds instead of traditional tubers for cultivation. Unlike tubers, true potato seeds are lighter, do not spoil during transportation, and can be stored long-term, increasing the chances of successful harvests. This innovation is expected to enhance global food security by providing more reliable and resilient potato crops.
Climate and Economic Benefits
The use of true potato seeds has the potential to improve the economics of potato production. Solynta's hybrid breeding technology creates robust potato varieties that require fewer crop protection inputs. The breeding method, which excludes GMOs, allows for quick adaptation to different needs, including resistance to diseases like late blight and adaptation to climate change.
EU and Global Impact
The EIB's support for Solynta aligns with the EU's goals for sustainable agriculture and climate adaptation. The initiative contributes to the United Nations sustainable development goals, such as ending poverty and hunger and promoting responsible consumption and production. The European Commission supports this project under InvestEU, emphasizing its importance for long-term competitiveness and sustainability in the farming sector.
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