Clean tech startup Fluxnium found a way to tap 50,000 years worth of nuclear fuel
Clean tech startup Fluxnium has emerged from stealth with a $7 million seed round to develop technology for extracting uranium from seawater. The company aims to address rising uranium costs and supply chain concerns as the U.S. nuclear industry seeks to expand capacity.
Why it matters
Securing a sustainable, domestic supply of nuclear fuel is critical for the U.S. to meet its ambitious clean energy and AI-driven electricity demand goals.
The U.S. has ambitious plans to triple the capacity of its nuclear power plants by 2050, but that goal might hit a roadblock if plant operators can’t buy fuel at reasonable prices.
Prices for yellowcake, a form of unrefined uranium, are up 75% in the last five years, according to the U.S. Energy Information Administration. Further complicating matters, the U.S. doesn’t have significant resources within its borders — unless you consider the ocean.
The ocean has over 4 billion metric tons of uranium in it, enough for 50,000 years or so. “It’s like a thousand times more than all identified hard rock mines combined,” Jeff Green, founder and CEO of the clean tech Fluxnium , told TechCrunch.
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