REEgen, a Cornell spinout focused on rare earth element (REE) recovery, won the $150,000 grand prize at the 2025 FuzeHub Commercialization Competition, held at the New York State Innovation Summit on Oct. 29-30.
At a time when REEs have been the subject of mounting supply chain and national security concerns, REEgen has developed innovative solutions to drive the industry forward. These critical minerals are essential components of modern-day electronics like smartphones, electric vehicles, and medical equipment.
As researchers in the lab of Buz Barstow Ph.D. '09, associate professor of biological and environmental engineering in the College of Agriculture and Life Sciences, co-founders Alexa Schmitz and Sean Medin genetically engineered bacteria to extract REEs from industrial biproducts. The innovation paves the way for REE recovery with reduced environmental and security risks compared to conventional mining.
The new funding from the competition will help REEgen, now a client of the university's Praxis Center for Venture Development, advance toward commercial production, which could begin as early as mid-2026.
A total of 12 entrepreneurs pitched at the Innovation Summit for the chance to win one of five awards. Including REEgen, four of the five winning startups have Cornell connections:
- Runner-up GynStrong, Inc. was awarded $100,000 for its pelvic pain relief device, which was developed at Weill Cornell Medicine (WCM).
- CryoBio, Inc. was awarded $80,000 for its spray solution to prevent frost damage to crops. Founded by a Cornell researcher, the startup is a member of Rev: Ithaca Startup Works in Ithaca.
- IVSonance Biomedical Inc. was awarded $60,000 for its acoustic technology to improve fertility treatment, which was developed at Cornell and WCM.
Winners must use their funding to improve an existing prototype, enabling them to pursue additional investments and customers as they progress toward commercialization.
