Press Release · FluxPoint Energy
FluxPoint Energy Closes Seed Funding Round to Advance U.S. Uranium Conversion Facility
Distributed by Pod Dispatch · Originally issued via PR Newswire
Experienced nuclear fuel and engineering team advances conversion project to expand domestic production and strengthen America's nuclear fuel supply chain.
HOUSTON and MCLEAN, Va., Nov. 10, 2026 — FluxPoint Energy, led by industry veterans with decades of experience in uranium processing, nuclear fuel operations and energy infrastructure development, today announced the closing of its seed funding round. The investment supports the engineering, regulatory planning and technical team expansion needed to advance its planned uranium conversion facility toward commercial production.
FluxPoint is developing what it expects to be the first new U.S. uranium conversion facility in almost 70 years. As utilities and developers pursue additional nuclear generation, the company is addressing a fundamental requirement: reliable domestic capacity to process uranium into the material needed for enrichment and subsequent fuel fabrication.
The company's leadership brings direct experience managing nuclear fuel businesses and delivering complex energy projects. FluxPoint is led by Founder and CEO Mike Chilton who previously served as executive vice president of GE Hitachi Global Nuclear Fuels and president of GE Nuclear Energy's Joint Conversion Company.
"America's nuclear ambitions depend on our ability to produce the fuel those reactors will need," said Chilton. "Our team understands uranium processing and the engineering discipline required to build and operate nuclear fuel infrastructure. Closing this seed round funds the next phase of that work: advancing facility design, preparing for regulatory approvals and building the technical organization needed to deliver domestic production."
Proceeds will advance front-end engineering design (FEED), support regulatory and permitting activities, and expand the company's development team. With market and technical feasibility studies completed, FluxPoint is targeting initial commercial production in 2030–2031.
Uranium conversion transforms uranium oxide concentrate, commonly known as yellowcake, into uranium hexafluoride (UF₆), the feedstock used in uranium enrichment. Expanding this capacity in the United States would strengthen a critical link between uranium supply and finished reactor fuel, reducing exposure to foreign processing and supply disruptions.
"Securing America's nuclear fuel supply requires sustained investment and people who know how to execute," Chilton said. "This financing supports the detailed technical work that turns a development plan into a facility capable of supplying American customers."
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About FluxPoint Energy
FluxPoint Energy is developing domestic uranium conversion capacity to strengthen America's nuclear fuel supply chain. Led by experienced nuclear fuel, engineering and energy infrastructure executives, the company's planned conversion facility will support reliable fuel supplies for existing and future reactors, energy security and long-term U.S. nuclear leadership. For more information, visit fluxpointenergy.com.