NEWS: The US nuclear supply chain is getting a major makeover.

The context: With a ban on Russian uranium imports taking full effect in 2028, speed is key to prevent significant nuclear supply chain gaps. The feds have committed $2.7B to enrichment expansion, but nothing comparable for conversion—and the US only has one uranium conversion facility, which dates back to the 1950s.

The conversion race: Texas startup FluxPoint Energy, which recently debuted at CERAWeek, is planning the first new US uranium conversion facility in nearly seven decades. The modular Texas plant targets first production by 2030-31.

FluxPoint isn’t alone: Uranium Energy Corp’s subsidiary recently hit its first NRC licensing milestone for its conversion facility, which is planned to take on roughly half of estimated US annual demand.