U.S. nuclear energy startup Bluecore Energy completed a $50 million seed round of financing just two months after its establishment. The company focuses on deploying small, modular nuclear reactors on barges, with the goal of providing mobile and clean power to ports and surrounding facilities.
Complete the seed round within eight weeks.
This round of financing was led by Silverton Partners. Early investors such as Slauson & Co, Harlem Capital, and co-founder Chris Larsen of Ripple continued to increase their investments. Angel investors from Collab Capital and Kevin Hart, as well as Hartbeat Ventures under them, also participated in this round.
Founder Kofi Asante stated that the company originally had no plans to continue financing this year, but after the pre-seed financing round, they continued to receive investment offers. This round of financing was ultimately completed within eight weeks.
Floating nuclear power plants under review
Bluecore Energy made its public debut in July of this year after ending its stealth operation, and has established its headquarters at Long Beach Harbor. Since then, the company has launched two floating barges and has established partnerships with the Maritime Safety Administration of the U.S. Department of Transportation, the U.S. Nuclear Regulatory Commission (NRC), and the U.S. Coast Guard.
Currently, the company's product design is under review by NRC and the Coast Guard. If all goes well, its floating nuclear power plant will proceed to the certification process. Asante stated that the company has been in communication with relevant agencies since its inception and officially initiated regulatory contacts in August.
Aim at ports and the AI data center
This funds will be used for product development, regulatory affairs, nuclear fuel procurement, and recruitment. The company expects that the main challenge ahead lies in the supply chain, particularly whether the speed of obtaining key hardware can keep up with customer demands.
Asante indicates that the company has received expressions of interest from multiple ports, AI data centers, as well as communities that require clean energy and clean water. According to them, team members come from SpaceX, Rivian, and Toyota. The company is drawing on the experience of these enterprises in the procurement of key components.
He also stated that Bluecore Energy already possesses barges and reactors, and the next step will be to order nuclear fuel, which will then be handed over to a national-level nuclear laboratory partner to advance the subsequent work.
