BLUECORE ENERGY RAISES $50M FOR FLOATING NUCLEAR POWER PLANTS

Bluecore Energy, a California-based nuclear startup, has raised $50 million in seed funding to develop floating nuclear power plants designed to supply ports and other locations with high energy demands. The round, led by Silverton Partners, includes $10 million in previously announced pre-seed funding and attracted several new investors. Founder and chief executive Kofi Asante said the company now has "the capital, the team, the hardware, and some of the most important institutions in nuclear and maritime working alongside us".

The company's initial design generates approximately 10 megawatts of electrical output continuously using light-water reactor technology. Bluecore plans to use the funding to engineer and test its compact nuclear power system, pursue regulatory approval, and obtain maritime classification. The system is designed to operate for years without refuelling, requiring fuel replacement only once every few years. Bluecore has secured its first barge and is developing a non-fueled, electrically heated reactor module prototype at its Port of Long Beach headquarters to test monitoring, sensor and control systems.

The company is targeting ports, artificial intelligence datacentres and coastal infrastructure as potential markets, with reactors potentially deployed offshore and connected to customers via subsea cables. Remote islands and coastal settlements in locations such as Alaska, which lack practical connections to wider electricity grids, represent additional potential markets. Bluecore claims its approach could provide reliable, zero-emission power to energy-intensive locations and expand the markets available for nuclear generation.