PARIS--(BUSINESS WIRE)--Sep 17, 2025--
Genomines, a company pioneering the future of metal extraction with efficient, plant-based metal farming, today announced it has raised an oversubscribed $45 million Series A. For Genomines, the fundraise signals a structural shift in how the world will source critical metals — away from high-emission mining and toward scalable, regenerative agriculture. The fresh capital follows a $5 million seed round and an additional $12 million secured in non-dilutive funding, including support from BPI France through its i-Demo and Aide au Développement Deeptech (ADD) programs, bringing the company’s total capital to $62 million. The funding will be used to accelerate deployment of Genomines’ solution, which includes the full-scale field demonstrations of nickel production from genetically enhanced plants and securing large commercial offtake contracts with the company's client base.
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At the core of Genomines’ platform is a proprietary approach to phytoextraction, where genetically-enhanced “hyperaccumulator” plants absorb and concentrate metals such as nickel from the soil. Once harvested and processed, these plants yield battery-grade metals faster, cheaper, and with a fraction of the emissions of traditional mining. Featured in an April 2025 Nature Biotechnology article and by BCG X, the company's platform has already more than doubled nickel yields and biomass productivity, unlocking battery-grade outputs for proof of concept projects with automakers, including Hyundai Motor Group and Jaguar Land Rover, and progressing in collaborations with refiners, battery manufacturers and commodity traders like Electric Mobility Materials Europe (EMME), and Ocean Partners.
“Our mission is to harness plant biotechnology to extract resources essential for clean energy technology via scalable processes that preserve biodiversity, soil health and human well-being,” said Fabien Koutchekian, co-founder and CEO of Genomines. “Our vision is to create an entirely new industry of plant-based metals. Genomines unlocks a scalable new resource base - we can fundamentally rebalance global mineral supply chains for decades to come.”
Genomines delivers unprecedented agility compared to conventional metal extraction methods, providing the ability to:
“The supply for battery materials is growing increasingly constrained, with our ability to meet demand in the 2030s under significant pressure. Genomines unlocks an entirely new set of resources for battery materials, starting with nickel,” said Michael Kearney, General Partner at Engine Ventures and Genomines Board Member. “Genomines has demonstrated the full value chain of their process and holds the promise to build a more resilient nickel supply chain with the ability to produce across geographies at lower cost than traditional mineral extraction. By genetically enhancing plants to cost-effectively mine nickel, this talented team has the opportunity to fundamentally transform global mineral extraction.”
"Genomines’ technology leverages underutilized assets by extracting nickel from low-concentration soils that don't compete with traditional agriculture. Coupled with a structural cost advantage, Genomines is well equipped to fundamentally change the way we extract critical metals, and do it in a significantly more sustainable manner," said Alex Hoffmann, General Partner at Forbion and Genomines Board Member. "We are excited to be part of the journey and support the team to achieve its ambitious targets."
Genomines is co-founded by Fabien Koutchekian and Dali Rashid, PhD, the company’s CTO. Dr. Rashid holds a PhD in Plant Biotechnology and Genetics, and her research – published in Nature Plants and resulting in a patent on floral sex alteration – laid the foundation for Genomines’ technology. Koutchekian is a second-time deep tech entrepreneur and former entrepreneur in residence at Entrepreneur First, a global accelerator backed by Reid Hoffman, Greylock Partners, Founders Fund, Mosaic Ventures and Lakestar. Koutchekian and Rashid met via the Entrepreneur First program. Collectively, the company’s management team brings decades of mining, project finance, and M&A expertise as well as prior experience scaling agricultural operations across South Africa. It currently employs 23 full time staff, including 6 PhDs dedicated to its R&D programs and a rapidly growing operational team in South Africa.
About Genomines
Founded in 2021, Genomines is pioneering the future of global metal extraction with efficient, plant-based metal farming. While nickel is the first focus, Genomines’ platform is designed for sustainable, cost-effective multi-metal extraction, with the potential to extend to cobalt, rare earth elements, and other critical materials central to the clean energy transition. Recognized under the France 2030 program as a member of the i-Demo initiative and as a member of Station F’s Future 40, Genomines has been publicly endorsed for its critical role in building resilient, low-carbon supply chains.
Genomines Series A was led by Engine Ventures — making its first investment outside of the U.S. — an MIT spinout backing category-defining hard-tech companies such as Commonwealth Fusion Systems, together with Forbion BioEconomy, a leading European growth investor in sustainable bio-based industries. They are joined by DeepTech & Climate Fonds, Wind, Lowercarbon Capital, Entrepreneurs First, Hyundai Motor Group, Teampact Ventures, AlphaTech Investment Group, Prospect Innovation, Raise Phiture, Elemental Impact and Salida B.V.
For more information and to review open job opportunities, visit www.genomines.com or follow the company on LinkedIn.
Genomines' hyperaccumulator plants for nickel phytoextraction.
KAMPALA, Uganda (AP) — Uganda’s presidential election was plagued by widespread delays Thursday in addition to a days-long internet shutdown that has been criticized as an anti-democratic tactic in a country where the president has held office since 1986.
Some polling stations remained closed for up to four hours after the scheduled 7 a.m. start time due to “technical challenges," according to the nation's electoral commission, which asked polling officers to use paper registration records to ensure the difficulties did not “disenfranchise any voter.”
President Yoweri Museveni, 81, faces seven other candidates, including Robert Kyagulanyi, a musician-turned-politician best known as Bobi Wine, who is calling for political change.
The East African country of roughly 45 million people has 21.6 million registered voters. Polls were expected to close at 4 p.m., but voting was extended one hour until 5 p.m. local time. Results are constitutionally required to be announced in 48 hours.
In the morning, impatient crowds gathered outside polling stations expressing concerns over the delays. Umaru Mutyaba, a polling agent for a parliamentary candidate, said it was “frustrating” to be waiting outside a station in the capital Kampala.
“We can’t be standing here waiting to vote as if we have nothing else to do," he said.
Wine, the candidate, alleged electoral fraud, noting that biometric voter identification machines were not working at polling places and claiming that there was “ballot stuffing.”
Wine wrote in a post on X that his party's leaders had been arrested. “Many of our polling agents and supervisors abducted, and others chased off polling stations,” the post said.
Museveni told journalists he was notified that biometric machines weren't working at some stations and that he supported the electoral body's decision to revert to paper registration records. He did not comment on allegations of fraud.
Ssemujju Nganda, a prominent opposition figure and lawmaker seeking reelection in Kira municipality, told The Associated Press he had been waiting in line to vote for three hours.
Nganda said the delays likely would lead to apathy and low turnout in urban areas where the opposition has substantial support. "It’s going to be chaos,” he said.
Nicholas Sengoba, an independent analyst and newspaper columnist, said delays to the start of voting in urban, opposition areas favored the ruling party.
Emmanuel Tusiime, a young man who was among dozens prevented from entering a polling station in Kampala past closing time said the officials had prevented him from participating.
“My vote has not been counted, and, as you can see, I am not alone," he said he was left feeling “very disappointed.”
Uganda has not witnessed a peaceful transfer of presidential power since independence from British colonial rule six decades ago.
Museveni has served the third-longest term of any African leader and is seeking to extend his rule into a fifth decade. The aging president’s authority has become increasingly dependent on the military led by his son, Muhoozi Kainerugaba.
Museveni and Wine are reprising their rivalry from the previous election in 2021, when Wine appealed to mostly young people in urban areas. With voter turnout of 59%, Wine secured 35% of the ballots against Museveni’s 58%, the president’s smallest vote share since his first electoral campaign three decades ago.
The lead-up to Thursday's election produced concerns about transparency, the possibility of hereditary rule, military interference and possible vote tampering.
Uganda's internet was shut down Tuesday by the government communications agency, which cited misinformation, electoral fraud and incitement of violence. The shutdown has affected the public and disrupted critical sectors such as banking.
There has been heavy security leading up to voting, including military units deployed on the streets this week.
Amnesty International said security forces are engaging in a “brutal campaign of repression,” citing a Nov. 28 opposition rally in eastern Uganda where the military blocked exits and opened fire on supporters, killing one person.
Museveni urged voters to come out in large numbers during his final rally Tuesday.
“You go and vote, anybody who tries to interfere with your freedom will be crushed. I am telling you this. We are ready to put an end to this indiscipline,” he said.
The national electoral commission chairperson, Simon Byabakama, urged tolerance among Ugandans as they vote.
“Let us keep the peace that we have,” Byabakama said late Wednesday. “Let us be civil. Let us be courteous. Let’s be tolerant. Even if you know that this person does not support (your) candidate, please give him or her room or opportunity to go and exercise his or her constitutional right."
Authorities also suspended the activities of several civic groups during the campaign season. That Group, a prominent media watchdog, closed its office Wednesday after the interior ministry alleged in a letter that the group was involved in activities “prejudicial to the security and laws of Uganda.”
Veteran opposition figure Kizza Besigye, a four-time presidential candidate, remains in prison after he was charged with treason in February 2025.
Uganda opposition presidential candidate Robert Kyagulanyi Ssentamu, known as Bobi Wine, right, greets election observers, including former Nigerian President Goodluck Jonathan, at his home in Magere village on the outskirts of Kampala, Uganda, Wednesday, Jan. 14, 2026. (AP Photo/Hajarah Nalwadda)
Billboards of Uganda President and National Resistance Movement (NRM) presidential candidate Yoweri Museveni are seen in Kampala, Uganda, Tuesday, Jan. 13, 2026. (AP Photo/Samson Otieno)
Electoral workers deliver ballot boxes to a polling station during presidential election in Kampala, Uganda, Thursday, Jan. 15, 2026. (AP Photo/Brian Inganga)
Voters are reflected in a police officer's sunglasses as they wait in line after voting failed to start on time due to system failures during presidential election in Kampala, Uganda, Thursday, Jan. 15, 2026. (AP Photo/Brian Inganga)
Voters wait to cast their ballots during the presidential election in Kampala, Uganda, Thursday, Jan. 15, 2026. (AP Photo/Brian Inganga)
