- Bluecore Energy has successfully raised $50 million in seed funding to advance offshore small modular nuclear reactors.
- The company aims to build a 10 MWe water-cooled reactor system at the Port of Los Angeles.
- The design is modular and capable of providing long-term power support to multiple communities.
- Bluecore is deepening technical engagement with the U.S. Nuclear Regulatory Commission to advance regulatory and commercialization pathways.
Bluecore Energy, a startup focused on building small modular nuclear reactors (SMRs) on floating barges, has announced that its $50 million seed funding round, led by Silverton Partners, has been oversubscribed. In just nine months since its founding, Bluecore Energy has rapidly advanced its floating nuclear energy plans, securing a port berth, receiving its first barge, and beginning construction of a test reactor. The reactor, designed for commercial applications, features multiple layers of protective barriers and a continuous water-cooling system to ensure safe and reliable operation at sea.
The company's founder, Kofi Asante, stated on LinkedIn: "Our focus is very simple. To create and deliver zero-emission energy in the safest and fastest way possible. Over 3 billion people live within an hour of a water body. We want to power them."
Bluecore Energy's Development Plans
Bluecore Energy made its public debut on July 21st, securing $10 million in pre-seed funding to deploy floating SMRs directly on mobile barges. The startup is the first SMR developer within a major U.S. shipping hub, operating directly out of its headquarters at the Port of Los Angeles, California. Its goal is to build a 10 MWe water-cooled reactor system that utilizes proven marine nuclear technology and is enclosed within steel pressure vessels and concrete barriers. The reactor is capable of powering approximately 15,000 homes and can run for years on a single fueling.
The design is modular, with several units able to be connected together to achieve scalability and provide reliable, long-term power to major ports, utilities, AI data centers, offshore facilities, and energy-starved coastal communities. Bluecore's initial target is its hometown port of Los Angeles, the first U.S. port to publicly support floating nuclear energy.
The Potential of Offshore Nuclear Energy
Asante stated, "Offshore nuclear energy is not a new idea. Our opportunity lies in learning from decades of marine nuclear experience and combining it with modern engineering to build systems for a new generation of commercial applications." The startup has successfully acquired and delivered its first physical barge and a power test reactor to its port location. This will enable the engineering team to actively build, test, and refine system components in a real-world environment. In addition to these practical development milestones, Bluecore is deepening technical engagement with the U.S. Nuclear Regulatory Commission and the U.S. Coast Guard to rapidly advance its formal regulatory, design classification, and commercialization pathways.
The platform leverages offshore mobility to overcome the limitations of land-based energy. The company's small modular reactors will be installed on mobile barges that can be moored or anchored like offshore oil rigs. These barges will be connected directly to terrestrial infrastructure via high-capacity submarine cables. Situated in open waters, these units naturally utilize seawater for continuous cooling. According to TechCrunch, this seed funding round was strongly backed by returning pre-seed investors, including Slauson & Co., Harlem Capital, and Ripple co-founder Chris Larsen.
Meanwhile, some high-profile new investors, such as Collab Capital, Kevin Hart's HartBeat Ventures, and angel investors from Tesla, Uber, Amazon, and Google, have also joined in. With the new funds in place, Bluecore will be placing its first nuclear fuel order. The company's main operational challenge is addressing hardware supply chain issues. The startup, composed of professionals from SpaceX, Rivian, and Navy submarine units, has been engaged in joint design reviews with the U.S. Nuclear Regulatory Commission and the Coast Guard.
The Potential Impact of New Energy Solutions
Bluecore Energy's small modular nuclear reactor program represents an innovative energy solution, particularly in the context of growing energy demands. By deploying these reactors offshore, the company can not only overcome the limitations of land-based energy but also utilize seawater for cooling, enhancing operational efficiency. This new energy model is particularly important for energy-starved coastal communities, providing them with a stable power source. Furthermore, collaboration with the U.S. Nuclear Regulatory Commission will help accelerate its commercialization process, thereby promoting the development of sustainable energy.