French Startup Genomines Raises $45M to Revolutionize Nickel Mining for EVs
French startup Genomines is making waves in the mining industry with its innovative phytomining method. Using genetically modified plants, the company aims to extract rare metals like nickel, addressing the growing demand for these resources in electric vehicle production. Recently, Genomines raised $45 million in a funding round, bolstering its mission to produce bio-nickel for batteries.
Genomines employs a unique approach to metal extraction. It uses hyperaccumulator plants, such as modified daisies and sunflowers, to absorb metal ions through their roots. These plants, capable of taking up to 7.6% of their biomass in nickel, can yield up to 2.5 tons of the metal per hectare annually. After harvesting, Genomines uses a combination of bioleaching and heating to extract the metal. Bioleaching involves microorganisms dissolving the metals, while heating helps prevent CO2 emissions.
The company's goal is to produce 150,000 tons of bio-nickel annually by 2030, sufficient to power the batteries of up to three million electric cars. Genomines has already secured partnerships with major automakers like Hyundai Motor Group and Jaguar Land Rover, converting mixed hydroxide precipitate (MHP) into nickel sulfate hexahydrate (NSH) for battery production.
With its successful funding round and partnerships with leading car manufacturers, Genomines is poised to revolutionize the mining industry. By harnessing the power of genetically modified plants, the company offers an eco-friendly alternative to traditional mining methods, with the potential to meet the growing demand for metals in the electric vehicle market.
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