U.S. Molten Salt Solutions Completes $7 Million Seed Funding Round

On August 31, Molten Salt Solutions (MSS), headquartered in New Mexico, U.S., announced that it had completed an oversubscribed $7 million seed funding round. The round was led by Dolby Family Ventures (DFV), with participation from Vanedge Capital Partners, Alumni Ventures, Gaingels, True Ventures, and Future Ventures.

MSS primarily develops enriched stable isotope production technologies for the fusion and advanced nuclear energy markets. The company states that it possesses a novel large-scale production method for enriching lithium isotopes, which can support the supply of high-purity lithium-6 and lithium-7.

In the advanced nuclear energy sector, fusion systems require a stable and reliable supply of enriched lithium-6, while lithium-7 is used in advanced fission molten salt reactors. According to available data, the United States currently lacks commercial production capacity for either of these lithium isotopes, and rebuilding a safe and reliable domestic supply source for lithium-7 has been identified as a matter of energy security.

MSS Chief Executive Officer John Elling stated that fusion reactors and small modular fission reactors are accelerating their commercialization, and both require a reliable domestic supply of enriched lithium. This investment will help the company scale its technology and production capacity to meet the current and future demands of advanced reactors.

According to the company's disclosure, the proceeds from the funding round will be used to advance MSS from the laboratory validation stage to pilot-scale production in order to fulfill existing customer agreements. Additionally, the company will expand its technical and operational teams and strengthen collaboration with stakeholders across the fusion and advanced nuclear energy supply chain. MSS also plans to advance a broader portfolio of enriched isotope products to serve emerging application markets.

Prior to this funding round, MSS had secured $3 million in pre-seed funding and more than $5 million in grants, including support related to the New Mexico Advanced Energy Award. The company was founded by serial entrepreneurs and isotope enrichment specialists from Los Alamos National Laboratory, and it claims that its proprietary platform is 100 times more efficient than traditional enrichment methods.