Bluecore Energy Secures $50 Million Seed Funding to Advance Floating Nuclear Reactors

Bluecore Energy, a startup focused on small modular nuclear reactors (SMRs) deployed on floating barges, announced it has raised $50 million in an oversubscribed seed funding round. This follows a $10 million pre-seed round earlier this year and the company’s recent emergence from stealth mode. Founded by Kofi Asante, Bluecore Energy aims to deliver clean energy that can be transported to locations where it is most needed, such as ports and adjacent infrastructure. Unlike traditional fixed-location nuclear plants, Bluecore’s floating reactors offer mobility, enabling rapid deployment without the need for extensive new infrastructure. Asante highlighted that the U.S. Navy has operated portable nuclear technology safely for decades, and Bluecore’s innovation lies in scaling down the technology to allow movement within days rather than years. The seed round attracted participation from existing investors, including Slauson & Co., Harlem Capital, and Chris Larsen, co-founder of Ripple, as well as new investors such as Collab Capital, HartBeat Ventures led by Kevin Hart, and angel investors from Tesla, Uber, Amazon, and Google. Silverton Partners led the round, which closed in eight weeks. Bluecore Energy is headquartered at the Port of Long Beach, making it the first nuclear company based at a major port. The company has launched two floating barges and established partnerships with the U.S. Department of Transportation Maritime Division, the Nuclear Regulatory Commission (NRC), and the U.S. Coast Guard. It is currently undergoing regulatory review with the NRC and Coast Guard, a process that could lead to certification of its floating nuclear power plants. The new funding will support product development, regulatory compliance, nuclear fuel procurement, and team expansion. Asante noted that supply chain challenges, particularly securing hardware for the portable nuclear infrastructure, will be a key hurdle. Bluecore has attracted interest from multiple ports, AI data centers, and communities seeking clean energy and water solutions. The company’s team includes veterans from SpaceX, Rivian, and Toyota, applying similar strategies to secure critical components. Bluecore already possesses barges and a reactor and plans to order nuclear fuel to collaborate with a national nuclear laboratory. At its core, Bluecore Energy’s mission is to democratize access to clean energy, with Asante emphasizing that clean energy and water should be considered human rights.