What Exodys Energy does

Exodys Energy is a private nuclear engineering company, founded in 2023 and headquartered at 115 Broadway, 5th Floor, New York. The company is developing UPCYCLE, a modular nuclear fuel recycling technology that uses electrochemical pyroprocessing in a molten salt bath to recover uranium and transuranic elements from spent nuclear fuel without ever isolating a pure plutonium stream. The process is designed to handle ceramic fuels from existing PWR, BWR, and MOX reactors as well as metallic fuels for next-generation reactors, and capacity is intended to scale in increments of 100 metric tons per year, with the company stating each module is designed to be profitable from the first First-of-a-Kind deployment. A single metric ton of spent fuel is claimed to yield approximately 900 kg of recovered uranium capable of generating roughly 40 million kWh of electricity, with Exodys positioning its technology as a way to convert the U.S. stockpile of more than 100,000 metric tons of used fuel at over 70 sites into a domestic energy reserve.

The company's revenue model centers on three streams: paid fuel-recycling services for utilities and government entities, deployment of UPCYCLE modules, and technical consulting / engineering services. Its primary customers and go-to-market focus are the U.S. Department of Energy (notably under the 2026 Surplus Plutonium Utilization Program selection), nuclear utilities, advanced reactor developers, and uranium mining companies seeking integrated front- and back-end fuel cycle solutions. Strategic partnerships anchor this strategy: a 2025 MOU with Snow Lake Resources, a 14.5% equity stake in Kadmos Energy Services, collaborations with national laboratories (Savannah River, Pacific Northwest) and academic partners (RPI, UMass-Lowell, Babson, Excelsior), and active policy engagement through the Nuclear Energy Institute and the DOE Nuclear Fuel DPA Consortium.

The leadership team is drawn heavily from operational nuclear-reprocessing and U.S. defense program backgrounds. CEO Carl Perez previously led molten-salt reactor developer Elysium Industries and advises NEI's Recycling Task Force. CTO Jean-Christophe Piroux is a former CTO of International Operations at Orano (formerly Areva/Cogema) and Chief Technical & Performance Officer at Veolia Nuclear Solutions, with deep La Hague operational experience. CFO Viola Aureggi brings institutional capital markets experience from BlackRock and State Street. Directors include retired U.S. Navy Vice Admiral William Hilarides (former NAVSEA commander) and Babson professor Yasuhiro Yamakawa, who also leads U.S.–Japan Council nuclear-market bridging efforts. Exodys reports 1–10 employees, is partially owned by the State of New York, and operates as a U.S.-only private company with approximately $2.37M in disclosed funding to date.

Name

Exodys Energy

Legal name

Exodys Energy, Inc.

Website

https://exodysenergy.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

Exodys Energy is a private nuclear engineering company developing UPCYCLE, a modular pyroprocessing technology that recycles spent nuclear fuel into proliferation-resistant domestic reactor feedstock for the U.S. Department of Energy, nuclear utilities, and advanced reactor developers.

Ownership category

akta.pro rank

Product category

Nuclear Fuel Recycling Services

akta.pro primary industry

Reprocessing & Recycling (PUREX/UREX+, Pyroprocessing) (EUAKAHAG)

akta.pro secondary industries

Spent Fuel Management & Interim Storage (EUACADAL), Nuclear Fuel Cycle for Power Generation (Uranium, Conversion, Enrichment, Fuel Fabrication) (EUACADAK), Reprocessing Plant Technology, Equipment & Remote Handling (EUAKAHAH)

Keywords

• Nuclear fuel recycling
• Spent fuel reprocessing
• Pyroprocessing technology
• Nuclear waste management
• Closed-loop nuclear systems

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Fuel Recycling Services: Converting spent nuclear fuel into feedstock for reactors. Services to utilities and government entities for nuclear waste recycling, transforming waste liability into energy resource.
2. UPCYCLE Module Deployment: Deployment of modular recycling facilities with 100 MT annual throughput capacity. Profitable from first FOAK deployment, building commercial infrastructure rather than research projects.
3. Technical Consulting & Engineering Services: Expertise in pyroprocessing, nuclear systems design, and regulatory strategy shared with partners like Kadmos Energy. In exchange for 14.5% stake, Exodys contributes technical expertise to drive early engineering efforts.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Exodys Energy develops and deploys UPCYCLE, a small, modular nuclear fuel recycling facility that converts spent nuclear fuel from commercial and advanced reactors into secure, proliferation-resistant domestic feedstock via electrochemical pyroprocessing in a molten salt bath. The company also provides fuel recycling services to utilities and government entities and offers technical consulting and engineering expertise for integrated fuel cycle solutions.

Product overview

Exodys Energy offers a single unified product: the UPCYCLE nuclear fuel recycling technology. UPCYCLE is a modular reprocessing system that transforms spent nuclear fuel (from PWR, BWR, and MOX reactors) into usable domestic fuel feedstock. The process consists of three stages: mechanical treatment to prepare spent fuel assemblies, pyroprocessing in a molten salt bath to recover uranium and mixed actinides while maintaining a proliferation-resistant mixed stream, and waste management to stabilize fission products into reduced-volume solid waste. One metric ton of used nuclear fuel yields approximately 900 kg of recovered uranium capable of generating 40 million kilowatt-hours of electricity.

Differentiator

Problem solved

Functional benefit

Products and services

• UPCYCLE Nuclear Fuel Recycling Technology

Quantifiable outcome

• ~900 kg recovered uranium per MT of spent fuel
• +3 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Endless Frontier Labs at NYU SternminorOthers · 7 May 2026Graduated from Endless Frontier Labs 2025-2026 cohort of 74 startups spanning Digital Tech, Deep Tech, Life Sciences, and Digital Health tracks. EFL has facilitated $3.20 billion raised by 243 graduates with $9.14 billion in combined value.
• Kadmos Energy Services (Snow Lake subsidiary)coreStrategic or Co-development Partner · 21 October 2025Exodys named as strategic partner in Kadmos Energy's Texas RFI response for nuclear power deployment. Exodys provides technical expertise including fuel cycle considerations and reactor engineering support. In exchange, Exodys receives 14.5% stake in Kadmos and contributes to shaping integrated front-end and back-end fuel strategy.
• Snow Lake Resources Ltd.coreStrategic or Co-development Partner · 4 February 2025Strategic partnership via MOU to explore opportunities in nuclear energy sector. Exodys contributes expertise in nuclear fuel recycling and reactor development while Snow Lake provides uranium assets and market presence. Collaboration aims to build foundation for American nuclear fuel independence and circular nuclear economy.
• Nuclear Energy Institute (NEI)minorOthersCEO Carl Perez advises NEI's Recycling Task Force. Exodys structured regulatory guidance with NEI and supported DOE Office of General Counsel.
• DOE Nuclear Fuel DPA ConsortiumminorOthersCEO Carl Perez elected by industry as co-lead of the DOE Nuclear Fuel DPA Consortium's Reprocessing & Recycling Committee.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Orano (formerly Areva/Cogema): Orano operates La Hague, the world's largest commercial reprocessing facility, and is the global incumbent in spent fuel recycling. Highly comparable to Exodys because CTO Jean-Christophe Piroux ran treatment and vitrification programs at La Hague; Orano is the direct technology and operational benchmark for UPCYCLE.
• Veolia Nuclear Solutions: Veolia Nuclear Solutions is a major nuclear services incumbent where CTO Piroux previously served as Chief Technical & Performance Officer. Comparable as a broad incumbent providing nuclear facility services and a direct talent lineage to Exodys.
• BWX Technologies (BWXT): BWXT manufactures naval nuclear reactors and processes government-owned nuclear materials, including tritium and high-enriched uranium. Comparable as a broad U.S. nuclear fuel/material incumbent relevant to the federal surplus plutonium market Exodys is pursuing.

Direct peers

• Standard Nuclear: Standard Nuclear was selected alongside Exodys for advanced DOE Surplus Plutonium Utilization negotiations and focuses on TRISO fuel fabrication for advanced reactors. Direct peer in both the DOE selection cohort and the U.S. nuclear fuel cycle startup category.
• Oklo: Oklo was one of five companies selected alongside Exodys for DOE Surplus Plutonium Utilization advanced negotiations. While Oklo's primary business is advanced reactor deployment, the shared DOE cohort and overlapping fuel cycle positioning make it a closely tracked peer.
• Shine Technologies: Shine was co-selected with Exodys for DOE Surplus Plutonium Utilization negotiations and operates nuclear technologies for medical isotope and fusion applications. Direct peer in the DOE selection cohort and broader U.S. private nuclear ecosystem.
• Flibe Energy: Flibe Energy was co-selected with Exodys in the DOE Surplus Plutonium Utilization cohort and is developing liquid-fluoride thorium reactors. Comparable as a peer in advanced nuclear fuel cycle technology development targeting DOE programs.
• Kadmos Energy Services: Kadmos is a Snow Lake-backed nuclear reactor development company in which Exodys holds a 14.5% equity stake. Highly comparable because the two companies have an explicit integrated front-end/back-end fuel cycle partnership and share technical leadership inputs.

Emerging players

• Curio (formerly USNC-Tech): Curio is developing next-generation nuclear fuel recycling technology focused on closing the U.S. fuel cycle. Directly comparable to Exodys as an emerging private U.S. company pursuing advanced spent fuel recycling with proprietary technology.
• Lightbridge Corporation: Lightbridge is developing advanced metallic nuclear fuel for existing and next-generation reactors. Comparable to Exodys as a publicly traded advanced nuclear fuel company addressing domestic fuel supply constraints and waste reduction in the U.S. fuel cycle.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Exodys Energy