FluxPoint Energy, a Texas-based nuclear fuel startup that officially launched at the recent CERAWeek conference, has launched an initiative to strengthen the US nuclear fuel supply chain and to restore domestic uranium conversion capabilities. FluxPoint Energy, headquartered in Houston (Texas) and McLean (Virginia) is developing what it expects to be the first US uranium conversion facility in more than seven decades.
The aim is to establish a fully American, vertically integrated nuclear fuel capability supporting energy independence, enabling advanced reactor deployment, and strengthening national security. The planned facility will convert uranium oxide into uranium hexafluoride (UF6), a key step in nuclear fuel production.
“Policymakers, utilities, and developers increasingly point to fuel availability as a limiting factor for America’s nuclear reactors – both present and future,” said Mike Chilton, Founder & CEO of FluxPoint Energy. “Uranium conversion has become an unacceptable chokepoint in a global supply chain still dominated by foreign providers.”
Currently, the US has only one commercial conversion facility – Metropolis Works in Illinois – and relies heavily on foreign-controlled processing. The Metropolis Works originally owned by Honeywell, was built in 1958 to meet military but also supplied UF6 for civilian use starting in the late 1960s. The plant was idled in 2017 due to a global oversupply and restarted in July 2023 following upgrades. ConverDyn – a joint venture of Honeywell and General Atomics acted as the exclusive marketing and sales agent for all UF6 produced at the plant.
The facility, originally owned by Honeywell, was spun off as Solstice Advanced Materials in late 2025. It has a nominal capacity of approximately 15,000 tonnes a year, representing almost 20% of global production capacity. Following the spin-off, the marketing joint venture structure remains in place, now as a partnership between Solstice and General Atomics.
In February Solstice announced a 20% production increase target, aiming to produce over 10,000 tonnes of in 2026 to meet surging domestic demand. This is backed by a $2bn order backlog and Department of Energy support. The company is considering further capacity expansion. Solstice is currently paying off approximately $3m in loans taken by Honeywell during its idle period (2017–2023), with final payments expected in the second half of 2026.
The Metropolis Works uses a unique dry fluoride volatility conversion process involving five steps: feed preparation, reduction, hydrofluorination, fluorination, and distillation. The planned FluxPoint facility will use a chemical process to react solid uranium oxide with fluorine gas to produce uranium hexafluoride gas, which is then cooled into a solid for transport to enrichment facilities. First production is targeted for 2030–2031.
Apart from Metropolis, the US relies heavily on foreign providers for the conversion and enrichment. The global uranium conversion market is exceptionally concentrated, with four countries (France, Canada, Russia and China) controlling the majority of the world’s total conversion capacity.
As of early 2024, the market share by volume for the leading conversion service providers was distributed as follows:
- France (Orano) – 28.7%. Orano operates the Malvési (uranium tetrafluoride) and Philippe Coste (uranium hexafluoride) plants, which together represent the largest share of global conversion output.
- Russia (Rosatom) – 26.5%. Russia’s conversion capacity, primarily located at the Siberian Chemical Combine in Seversk, remains a dominant force despite Western efforts to diversify.
- Canada (Cameco) – 18.9%. Cameco’s Port Hope facility in Ontario is the only commercial conversion plant in Canada and recently resumed higher production levels to meet growing Western demand.
- United States (ConverDyn) – 18.3%. The Metropolis Works, now under Solstice Advanced Materials, accounts for nearly all commercial US conversion capacity.
- China (CNNC) primarily focuses on supplying its massive domestic expansion.
The market is currently undergoing a structural realignment as Western utilities attempt to reduce their reliance on Russian services. By 2024, more than 3,400 tonnes of processing demand shifted from Russian suppliers to US and French providers. France’s Orano and Canada’s Cameco are both evaluating or implementing capacity expansions.
“America cannot lead in nuclear energy while relying on foreign-controlled fuel processing,” Chilton noted. “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.”
He confirmed that development of the facility is well underway, with key milestones achieved. The project site is secured; due diligence work is in progress; a comprehensive market study and technical feasibility study have been completed; and Front-End Engineering Design (FEED) has been initiated. The company is engaging with federal and state stakeholders on regulatory pathways and reports strong early interest from prospective customers and investors.
“As global demand for reliable, carbon-free energy accelerates, FluxPoint Energy is positioning itself at the center of a renewed American nuclear supply chain,” Chilton said. “We are helping unlock nuclear power’s full potential as a cornerstone of the nation’s energy future.”
FluxPoint says it is aligned with national priorities, including energy security and Defense Production Act authorities and “is working alongside government and industry partners to support commercial growth, strengthen national defence, and position the United States as a global leader in next-generation nuclear energy”.
Mike Chilton has a 30-year career anchored by high-level leadership in the nuclear fuel cycle and large-scale energy infrastructure. Early in his career (1981–1990), he served as Operations Manager for the Kerr-McGee Nuclear facility, a “high-risk” conversion plant. The Kerr-McGee Nuclear Corporation operated two facilities in Oklahoma that became the focus of major safety and environmental controversies. Both sites were shut down following significant accidents and regulatory pressure.
The Sequoyah Fuels Facility, where Chilton served as Operations Manager, was designed to convert “yellowcake” into uranium hexafluoride. In 1986 a fatal accident occurred when a cylinder was grossly overfilled and ruptured while being heated in a steam chest in direct violation of company policy. This created a toxic cloud that killed one worker and hospitalised dozens of others. After another major release in 1992 and years of safety violations, the plant permanently ceased production in 1993.
Between 1990 and 2022, Chilton transitioned from technical uranium operations into high-level global executive roles across the broader energy and manufacturing sectors. He held several senior positions within GE Energy between 2000 and 2007. He was Regional Director at Kennametal (2007–2009) and held several positions at AES Corporation (2009–2019) and served as Chief Operating Officer and later President/CEO of Pegasus-Global Holdings (2020–2022) before returning to the nuclear sector as Executive Vice President at GE Hitachi Nuclear Energy (2022-2025) before founding FluxPoint Energy.
However, FluxPoint Energy is facing competition from Uranium Energy Corp (UEC), which is indeed advancing plans for its own domestic conversion facility through its wholly owned subsidiary, United States Uranium Refining & Conversion Corp (UR&C). The company aims to become the only vertically integrated American supplier, linking its mining operations in Wyoming and South Texas directly to its own conversion services.
The proposed facility is designed to produce 10,000 tonnes of uranium hexafluoride annually, making it the largest conversion plant in the US, capable of meeting over half of the estimated 18,000-tonne annual domestic demand. On 18 March, the Nuclear Regulatory Commission (NRC) assigned a formal docket number to the project, marking the official start of the regulatory review process. UEC has partnered with Fluor Corporation since July 2024 to complete pre-feasibility and conceptual design work. A detailed siting study is underway to evaluate locations across various states based on logistics, workforce availability, and utility infrastructure.
