Startup Claims Ocean Uranium Could Power Earth for 50,000 Years

Startup Fluxnium emerged from stealth with $7 million in seed funding from Congruent Ventures, Active Impact Investments and Constellation Energy. It licensed Oak Ridge amidoxime fibers from the US Department of Energy to extract uranium from seawater, where about 4 billion tonnes are dissolved — 1,000 times more than in mines. Current costs exceed $200 per pound, twice the market price, and commercial scale is unproven.

• Oceans hold 4 billion tonnes of dissolved uranium, 1,000 times mine reserves
• Extraction cost exceeds $200 per pound, twice the market price
• Fibers are submerged for 30-60 days, reusable and produce no toxic waste
• Two-thirds of Western uranium supply comes from Kazakhstan, Russia, Niger and China