Congruent Leads Fluxnium’s $7M Seed to Pull Uranium From Seawater
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Fluxnium has announced a $7 million Seed round led by Congruent Ventures. Constellation Technology Ventures, the venture arm of energy producer Constellation, and Active Impact Investments also took part.
The company is based in Los Angeles. It is building a new domestic supply of uranium by pulling the element out of seawater instead of mining it from rock. The proceeds will fund further development, pilot testing and scale-up of its technology platform.
Uranium underpins both the civilian nuclear fuel cycle and the defense supply chain, and the largest reserve on Earth sits dissolved in the ocean. Seawater holds roughly a thousand times more uranium than all identified land deposits combined, but at very low concentrations. Fluxnium’s answer is a proprietary high-surface-area fiber, developed with a leading U.S. national laboratory, that passively adsorbs uranium as seawater flows past.
The fiber is deployed on longline systems in open water, the same passive marine setup used by seaweed and mussel farms, then retrieved, processed and put back out. Fluxnium projects its cost will match conventional mining. Because there is no mine, there are no tailings or groundwater concerns, which removes some of the slowest and most contested permitting steps. Growing output becomes a matter of deploying more fiber rather than building a new mine.
CEO and founder Jeff Green leads the California company alongside co-founder Jim McDermott. Constellation Technology Ventures described its stake as a venture investment in the technology’s development, not a fuel-purchase commitment.
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