Fluxnium Targets Ocean Uranium as Nuclear Fuel Demand Grows

A clean technology startup called Fluxnium is developing a new approach to extract uranium from seawater, aiming to address potential fuel supply challenges as interest in nuclear power grows.

The United States has set a goal to triple its nuclear energy capacity by 2050, but expanding nuclear power could require a more reliable supply of uranium fuel. The U.S. Department of Energy has outlined plans to increase nuclear capacity as part of the country’s energy strategy.

Uranium prices have also increased in recent years. According to the U.S. Energy Information Administration, uranium supply and market conditions remain important factors for the nuclear industry.

Using the ocean as a uranium source

Fluxnium believes seawater could provide a significant new source of uranium. The oceans contain billions of metric tons of dissolved uranium, far more than known land-based reserves, although extracting it economically has remained a major challenge.

The startup has developed a process that uses specially designed polymer fibres to attract uranium particles from seawater. The company says the technology builds on chemistry developed through U.S. Department of Energy national laboratory research.

According to Fluxnium, its approach focuses on improving the efficiency of uranium extraction by increasing the surface area of the fibres, allowing more uranium to be collected while reducing costs.

Building a lower-cost extraction process

The company’s system uses long braided fibres that are placed offshore using floating structures. After spending several weeks in seawater, the fibres are brought back to shore, where uranium is removed and processed into yellowcake, a form used in the nuclear fuel supply chain.

Fluxnium said the materials can be reused multiple times and that the process avoids creating the toxic waste tailings associated with traditional uranium mining.

The company has been developing its technology privately and recently raised $7 million in seed funding from investors including Congruent Ventures, Active Impact Investments, and Constellation Energy.

Nuclear demand drives new energy technologies

Fluxnium is entering the market as interest in nuclear power increases, partly due to rising electricity demand from industries such as artificial intelligence and large-scale data centres.

Jeff Green founded the company and previously helped launch companies including Stamps.com, desalination startup NanoH2O, and carbon removal company 1PointFive.

Fluxnium’s challenge is reducing the cost of seawater uranium extraction enough to compete with traditional mining. The company says it is focusing on improving each stage of the process to make the technology commercially viable.