We investigate the potential use of Nd:LuVO4 in high average power, high repetition rate ultrafast lasers. Maximum mode-locked average power of 28 W is obtained at the repetition rate of 58 MHz. The shortest pulse duration is achieved at 4 ps without dispersion compensation. With a cavity dumping technique, the pulse energy is scaling up to 40.7 μJ at 300 kHz and 14.3 μJ at 1.5 MHz.