Uranium Extraction Startups

Fluxnium closed a $7 million seed round led by Congruent Ventures, with participation from Constellation Energy, to develop technology that extracts uranium from seawater using specially engineered polymer fibers. The ocean holds an estimated 4 billion metric tons of uranium, roughly a thousand times more than all identified hard-rock mines combined, offering a potential domestic alternative as yellowcake prices have risen 75% over the past five years.

The fibers, licensed from a Department of Energy national lab, are hung from buoys at sea for 30 to 60 days. Uranium is then extracted without toxic tailings and purified into yellowcake for the existing supply chain.

Fluxnium has worked to increase fiber surface area to bring extraction costs down from an initial demonstration price above $200 per pound.