California-Based Fluxnium Raises $7M in Seed Funding

The round also saw participation from Constellation Technology Ventures and Active Impact Investments.

The company will use the funding for further technology development, pilot testing, and scale-up.

What is Fluxnium?

Fluxnium is developing a platform to produce uranium from seawater instead of traditional mining. Its technology uses a high-surface-area fiber that passively adsorbs uranium as seawater moves past it.

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The fiber is deployed on longline systems in open water, then collected, processed, and redeployed. The company is developing the technology as a potential source of domestic uranium supply for the nuclear power industry.

How Much Funding Has Fluxnium Raised?

Fluxnium has raised $7 million in its latest Seed funding round.

The round was led by Congruent Ventures, with participation from Constellation Technology Ventures and Active Impact Investments. The source does not provide details of previous funding rounds.

Who Invested in Fluxnium’s Seed Round?

The investors in the Seed round include:

• Congruent Ventures — Lead investor
• Constellation Technology Ventures
• Active Impact Investments

Why the Funding Matters

Fluxnium will use the new funding to continue developing its uranium recovery technology, conduct pilot testing, and scale up the platform.

The company is working on a high-surface-area fiber developed with a leading U.S. national laboratory. The technology is designed to recover uranium dissolved in seawater without requiring the development of a traditional mine.

Who founded Fluxnium?

Fluxnium was founded by Jeff Green and Jim McDermott. The company is based in Los Angeles, California.

Leadership Comments

"The United States imports more than 90% of its uranium supply at a time when nuclear power is increasingly seen as a solution to growing demand for electricity driven by economic growth," said Jeff Green, CEO and Founder of Fluxnium.

"With the current uranium market dynamics, there is a new path to making the ocean one of the lowest-cost sources in the world," said Kevin Kopczynski, Partner at Congruent Ventures. "Congruent is excited to support Fluxnium as it unlocks the ocean's potential as a major contributor to a diverse and robust domestic nuclear fuel supply chain."

Market and Business Growth

Seawater contains a large amount of dissolved uranium, but at very low concentrations. Fluxnium's technology is designed to capture this uranium using its proprietary fiber.

The company says its fiber can be deployed through passive marine infrastructure and that production capacity can be expanded by deploying additional fiber.

What Happens Next?

Fluxnium plans to focus on further technology development, pilot testing, and scale-up. The company aims to develop a domestic uranium supply based on recovery from seawater as demand for nuclear power increases.

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