Los Angeles startup Fluxnium has secured 7 million dollars in seed funding to pioneer a method of extracting uranium directly from the ocean. Led by Congruent Ventures and supported by Active Impact Investments and Constellation Technology Ventures, the investment aims to scale a technology that utilizes specialized adsorbent fibers deployed on floating marine systems. These arrays operate similarly to seaweed or mussel farms, pulling trace amounts of dissolved uranium from seawater before being retrieved for processing. While the concentration of uranium in the ocean is low, the total volume available globally is estimated to be roughly 1,000 times greater than all known land deposits combined.
This shift toward maritime sourcing comes as traditional terrestrial mining faces mounting political and regulatory headwinds in the United States. In New Mexico, State Land Commissioner Stephanie Garcia Richard recently issued an executive order banning new uranium leases on state trust lands. This move effectively freezes conventional mining expansion within state borders, leaving the region with no active mines despite its history as a primary producer for the country. Instead, officials are shifting focus toward cleaning up hundreds of legacy mining sites left behind after market crashes decades ago.
Beyond state mandates, local resistance continues to plague other onshore efforts. Projects proposed by companies like Gamma Resources and NovaCore Exploration have met stiff opposition from residents and lawmakers who fear environmental degradation, particularly regarding watershed protection. Furthermore, the National Mining Association notes that federal permitting for these types of mines can take up to a decade, creating a significant bottleneck for domestic energy security.
Fluxnium CEO Jeff Green argues that his company’s approach bypasses these systemic hurdles entirely. By utilizing modular offshore infrastructure, Fluxnium claims it can avoid the massive capital expenditures and groundwater contamination risks inherent in digging pits into the earth. With the U.S. currently importing over 90 percent of its uranium supply during a period of surging electrical demand, Green believes seawater extraction offers a sustainable path toward domestic independence without producing toxic mine tailings.