Fluxnium has raised $7 million in a Seed round led by Congruent Ventures, with participation from Constellation Technology Ventures and Active Impact Investments. The funding will support further development, pilot testing and scale-up of the company’s uranium recovery technology.
Led by founder and CEO Jeff Green and co-founder Jim McDermott, Fluxnium is developing a domestic US source of uranium recovered from seawater rather than conventional terrestrial mining.
The company’s platform uses high-efficiency adsorbent fiber to capture dissolved uranium as seawater passes through the material. The fiber is designed to be deployed on longline infrastructure in open water, then retrieved, processed and redeployed. Fluxnium says the underlying adsorbent technology was developed with a US national laboratory.
Fluxnium is working to commercialize the technology as a potential source of uranium for the nuclear fuel supply chain. Constellation Technology Ventures, the venture investing arm of Constellation, lists Fluxnium among its portfolio companies developing energy technologies.
