A new nuclear energy startup launched last month during CERAWeek in the Bayou City.

FluxPoint Energy, the new Houston- and McLean, Virginia-based company, plans to develop the nation’s first new uranium conversion facility in more than 70 years, an effort CEO and founder Mike Chilton says is critical to unlocking the next phase of nuclear energy growth.

"Policymakers, utilities, and developers increasingly point to fuel availability as a limiting factor for America's nuclear reactors—both present and future," Chilton said in a news release. "Uranium conversion has become an unacceptable chokepoint in a global supply chain still dominated by foreign providers."

Chilton has held leadership roles at Pegasus-Global Holdings and GE Verona Hitachi Global Nuclear Fuels. Rodrigo Gonzalez Arbizu serves as COO and Christopher J. Rimel as chief of staff. The Board of Advisors includes energy leaders, including Jeff Lyash, John Sharp, Jane Stricker, Jennifer Skylakos, Leo Weitzenhoff and Jay Wileman.

FluxPoint’s planned facility will convert uranium oxide into uranium hexafluoride (UF6). Although FluxPoit’s new facility is still far off, the company announced it had secured a site and completed both market and feasibility studies. The specific area has not been revealed, only that it will be in Texas.

Discussions at CERAWeek revolved around securing reliable sources of uranium.

Nuclear energy production has been stagnant or even in slight decline since the 1990s. Concerns about nuclear waste and safety, as well as prohibitive costs, have kept new plants from being built, while the widespread availability of cheap natural gas has made investing in nuclear power less profitable. Many see the technology as dangerous and outdated.

However, as energy crises become more common, companies like FluxPoint are looking to restart the nuclear energy sector. The industry got a boost under the Biden Administration thanks to the Inflation Reduction Act, which set goals of adding 35 gigawatts of new capacity by 2035.

Chilton participated in a panel on the best ways to ensure American nuclear plants have access to uranium, most of which is not mined in the United States.

"America cannot lead in nuclear energy while relying on foreign-controlled fuel processing," Chilton added. "FluxPoint was created to restore a critical piece of our nation's energy infrastructure—ensuring that U.S. reactors have access to a secure, domestic fuel supply. This is about energy security, economic strength, and global leadership."