Floating nuclear startup Bluecore lands $50M funding before setting sail
Startup wants to take atomic power generation on a barge to wherever the need is
Bluecore Energy, a California-based startup, has secured $50 million in seed funding to develop floating nuclear power plants. This investment, led by Silverton Partners and including pre-seed funds, brings new investors to the table. The company plans to use the capital to engineer and test its compact nuclear power system, aiming for regulatory approval and maritime classification.
The initial design generates around 10 MWe continuously, using light-water reactor technology, and would require refueling only every few years.
Bluecore has secured its first barge and is developing a prototype reactor module at its Port of Long Beach headquarters to test monitoring, sensor, and control systems. The company targets ports, AI datacenters, and coastal infrastructure, with the potential for deployment offshore and subsea cable connections. Remote islands and coastal settlements may also benefit from this zero-emission energy source.
Bluecore's founder and CEO, Kofi Asante, stated that the company now has the necessary capital, team, hardware, and support from key nuclear and maritime institutions. The move follows the International Atomic Energy Agency's ATLAS initiative in the US, which aligns with the Department of Energy's efforts to expand atomic energy generation for industries like AI datacenters.
Bluecore has initiated discussions with the US Nuclear Regulatory Commission (NRC) and Coast Guard, who recently signed a memorandum of understanding to coordinate oversight of floating nuclear power plants.
The NRC aims to license maritime reactors under existing federal regulations, while developing a framework for microreactors and low-risk designs. Bluecore remains years away from commercial deployment, as it has yet to build a fueled reactor or apply for the required approvals. Its design, smaller than Russia's Akademik Lomonosov floating nuclear power plant, which generates up to 70 MWe, highlights the innovative approach of the startup.
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