Forbion Co-Leads $45M Series A in Genomines to Redefine Global Metal Extraction with Plant-Based Nickel
- $45 million Series A led by Forbion BioEconomy and Engine Ventures
- Genomines’ platform produces plant-sourced battery-grade nickel faster, cheaper, and cleaner than traditional methods
- Early partners include Hyundai Motor Group, Jaguar Land Rover and other leading industry players
Naarden, The Netherlands – 17 September, 2025 - Forbion, a leading European life sciences venture capital firm, today announced that it has co-led an oversubscribed $45 million Series A financing in Genomines, a company pioneering the future of metal extraction with efficient, plant-based metal farming. For Genomines, the fundraise signals a structural shift in how the world will source critical metals, away from high-emissions mining and toward scalable agriculture. The round was co-led by Forbion's BioEconomy Fund I and Engine Ventures. 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. The round consists of $37M in equity capital, with the rest being newly unlocked grant and debt funding.
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.
"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."
“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:
- Transform non-productive land into economic assets, operating in areas that are too low-grade to mine traditionally, but too metal rich to farm
- Quickly deploy a farm, operationalizing an asset in 1-2 years versus 12-17 years for traditional nickel mines
- Offer cleaner, more traceable extraction, while maintaining 40-50% lower equipment and operational costs as a result of biomass farming
- Scale modularly, deploying smaller, capital-efficient assets at profitable rates, rather than relying on the large, capex-intensive mines of traditional industry.
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.
***ENDS***
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 Forbion BioEconomy, a leading European growth investor in sustainable bio-based industries, together with Engine Ventures — making its first investment outside of the U.S. — an MIT spinout backing category-defining hard-tech companies. 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.
About Forbion
Forbion is a leading global venture capital firm with deep expertise in Europe and offices in Naarden, the Netherlands, Munich, Germany, and Boston, USA. Forbion invests in innovative biotech companies, managing approximately €5 billion across multiple fund strategies covering all stages of (bio)pharmaceutical drug development. In addition to its human health focus, Forbion also invests in planetary health solutions through its BioEconomy strategy. The firm’s team of over 30 investment professionals has a strong track record, with more than 130 investments across 11 funds, resulting in numerous approved therapies and successful exits. Forbion is a signatory to the UN Principles for Responsible Investment and operates a joint venture with BGV for seed and early-stage investments in the Benelux and Germany regions.
