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

Bluecore Energy, a nuclear technology startup, announced it has raised $50 million in a seed funding round just months after completing a $10 million pre-seed round and emerging from stealth mode. Founded earlier this year by Kofi Asante, the company focuses on building small modular nuclear reactors (SMRs) mounted on floating barges. This approach allows the reactors to be relocated as needed, providing clean energy to ports and surrounding infrastructure without the need for permanent installations. Asante highlighted that the U.S. Navy has operated portable nuclear reactors safely for decades, and Bluecore's innovation lies in scaling down the technology to enable rapid deployment within days rather than years. The company’s unique positioning at the Port of Long Beach marks it as the first nuclear firm headquartered at a major port. The new funding round was led by Silverton Partners and attracted participation from previous investors such as Slauson & Co., Harlem Capital, and Ripple co-founder Chris Larsen, alongside new backers including Collab Capital and Kevin Hart’s HartBeat Ventures. Notably, angel investors from Tesla, Uber, Amazon, and Google also contributed. The round closed in eight weeks, reflecting strong investor interest. Bluecore Energy has launched two floating barges and is collaborating with the U.S. Department of Transportation Maritime Division, the Nuclear Regulatory Commission (NRC), and the U.S. Coast Guard. The company is currently undergoing regulatory review for its reactor design, a critical step toward certification and deployment. The capital will be used to advance product development, support regulatory processes, purchase nuclear fuel, and expand the team. Asante identified supply chain management as a key challenge, emphasizing the need to secure hardware components at a pace that meets growing demand from ports, AI data centers, and communities seeking clean energy and water solutions. With a team drawn from companies like SpaceX, Rivian, and Toyota, Bluecore is applying advanced strategies to manage critical parts procurement. The startup already has barges and a reactor in place and is preparing to order nuclear fuel through a partnership with a national nuclear laboratory. Ultimately, Bluecore Energy aims to democratize access to clean energy, with Asante expressing a vision that clean energy and water should be fundamental human rights.