The European Investment Bank (EIB) has signed a €20 million venture debt financing agreement with Dutch biotechnology company Solynta to accelerate the development of potato varieties with improved disease resistance and climate resilience. The funding, supported under the European Commission's InvestEU programme, will advance Solynta's research into the use of true potato seeds as an alternative to traditional tubers for cultivation.
Unlike bulky and perishable tubers, true potato seeds are smaller, more durable during transport and storage, and offer increased potential for successful harvests. This innovation aims to enhance global food security by enabling more efficient and sustainable potato production.
© Solynta
EIB Vice-President Gelsomina Vigliotti emphasized that the investment aligns with the bank's priorities on climate action and innovation. She noted that supporting companies like Solynta is crucial for advancing climate adaptation and strengthening food systems, given the global reliance on potatoes as a staple crop.
Solynta's breeding technology, which excludes the use of genetically modified organisms (GMOs), allows for the rapid development of potato varieties tailored to specific needs, including resistance to late blight, a major fungal disease, and adaptation to varying climatic conditions. These hybrid varieties require fewer crop protection inputs, improving the environmental and economic efficiency of potato farming. The initiative supports multiple United Nations Sustainable Development Goals, including ending poverty and hunger and promoting responsible consumption and production.
Solynta CEO Peter Poortinga stated that the EIB's investment will support the company's ability to meet growing demand for robust, disease-resistant potato varieties. He highlighted that true potato seeds allow for cleaner, more reliable planting material, helping reduce the need for chemical inputs and bolstering food security, especially in vulnerable regions.
Klasja van de Ridder, Head of the European Commission Representation in the Netherlands, added that food security is a central pillar of the EU's new Vision on Agriculture and Food. She warned that climate change poses a risk to agricultural yields both within the EU and globally. According to van de Ridder, developing more resilient potato varieties is essential for addressing these challenges and contributes to the EU's goals of ensuring long-term competitiveness and sustainability in the farming sector. The Commission welcomes the cooperation with Solynta and the EIB through the InvestEU program.
© SolyntaFor more information:
Caroline Elias-Mackay
Solynta
Tel: +31 6 38 9003 74
Email: [email protected]
www.solynta.com
