Bluecore Energy Raises $50 Million to Build Floating Nuclear Power Plants

Nuclear technology company Bluecore Energy announced today that it has raised $50 million in a seed funding round, with proceeds from the new financing aimed at accelerating the development and deployment of its floating nuclear energy systems.

Emerging from stealth earlier this year, Port of Long Beach-based Bluecore is developing small modular, water-cooled nuclear reactors that operate aboard floating barges, enabling the delivery of reliable, zero-emission power to ports, data centers, and critical infrastructure.

The company’s initial system is being designed to produce approximately 10 MW of continuous power, using water-cooled nuclear technology and a maritime architecture designed to operate for years at a time, requiring refueling only once every few years, and to scale as energy needs grow. Bluecore is developing its first maritime nuclear energy system at the Port of Long Beach.

According to Bluecore, by making nuclear energy smaller, scalable, and deployable on water, the company’s technology expands where and how nuclear energy can be delivered, with the company noting that its future systems could support ports, AI data centers, and coastal infrastructure from appropriate maritime locations, including potential offshore deployment.

The new financing marks an expansion of an initial $10 million pre-seed round announced when the company emerged from stealth in July, with Bluecore highlighting progress in the interim, including continued development inside the Port of Long Beach, securing of its first barge, continued development of its first maritime nuclear energy system, and advancements in the company’s work with the Nuclear Regulatory Commission (NRC), and the U.S. Coast Guard. Bluecore has kicked off its regulatory engagement with the NRC and U.S. Coast Guard, beginning a coordinated process to address the unique regulatory considerations for commercial maritime nuclear deployment.

Kofi Asante, Founder and CEO of Bluecore Energy, said:

“Six months ago, we were building the foundation. Today, we have the capital, the team, the hardware, and some of the most important institutions in nuclear and maritime working alongside us. Our focus now is simple: create and deliver zero-emission energy as safely and quickly as possible.”

The seed round was led by Silverton Partners, and included substantial continued participation from existing investors Slauson & Co., in addition to participation from a broad range of existing and new investors.

The company said that the new capital will support continued engineering and hardware development, testing and validation, regulatory and classification work, manufacturing, hiring and advancement of its first system toward deployment.

Silverton Partners said:

“Bluecore Energy is pursuing a fundamentally new approach to delivering reliable, zero-emission power to some of the world’s most energy-intensive and strategically important locations. We believe the combination of proven water-cooled reactor technology and a floating, modular platform has the potential to open an entirely new market for nuclear energy, and we’re excited to partner with the team as they bring that vision to life.”