Fluxnium, Inc., a company based in Los Angeles and focused on domestic uranium supply from seawater, announced on September 21, 2026 that it has closed a $7 million seed round. Congruent Ventures led the investment, with participation from Constellation Technology Ventures and Active Impact Investments. The new capital will support further development, pilot testing, and scale-up of the company's platform, positioning it to commercialize a secure new source of uranium for civilian nuclear fuel and the defense supply chain.
A Vast and Underused Resource
The largest uranium supply on Earth is not underground but dissolved in the ocean. Seawater holds centuries' worth of supply for the global uranium market, roughly a thousand times more than all identified terrestrial deposits combined. The central challenge is that dissolved uranium exists at very low concentrations, making cost-effective extraction difficult.
Proprietary Fiber Technology
Fluxnium addresses the low concentration challenge through a proprietary high-surface-area fiber developed with a leading U.S. national laboratory. The material passively adsorbs uranium as seawater moves past it. This approach is designed to operate without the tailings and groundwater concerns that are typically linked to conventional uranium mining, avoiding much of the environmental disruption of traditional extraction.
Deployment on Proven Marine Infrastructure
The fiber is deployed on longline systems in open water using the same passive marine infrastructure proven by seaweed and mussel farms. Once the material has collected uranium, it is retrieved, processed, and redeployed for additional cycles. This model allows production to be scaled up by adding more fiber rather than developing a new mine.
Strategic Importance for Domestic Supply
The United States currently imports more than 90 percent of its uranium supply. That reliance comes as nuclear power is increasingly viewed as a solution to growing electricity demand driven by economic growth. Fluxnium's approach aims to create a new domestic and sustainable uranium source that can support both the civilian nuclear fuel cycle and the defense supply chain.
Investor Confidence and Market Outlook
Congruent Ventures partner Kevin Kopczynski said current uranium market dynamics create a new path to making the ocean one of the world's lowest-cost sources. Jason Murphy, Vice President of Nuclear Fuels at Constellation, noted that innovations expanding domestic uranium sources are important for the nuclear energy industry. Active Impact Investments general partner Tom Boddez added that global nuclear power generation is projected to rise 2.5 times in the next 15 years, positioning the company to reduce environmental damage from mining.
A Team with Hardtech Commercialization Experience
Jeff Green, CEO and Founder of Fluxnium, said seawater adsorption can be performed on proven offshore infrastructure at a cost projected to compete with conventional mining. Active Impact Investments noted that Green and co-founder Jim McDermott have prior successes taking hardtech ideas to commercial reality. Investors view that experience as critical for translating the laboratory breakthrough into a reliable industrial process.
Fluxnium's seed financing marks a meaningful step toward commercializing seawater uranium extraction at a time when domestic supply security and clean energy demand are rising. The company's passive offshore approach could offer a scalable alternative to conventional mining while supporting the nuclear fuel cycle. With backing from climate and energy investors, Fluxnium will now focus on pilot testing and scaling its platform.