Bluecore Energy Raises Another $50M for Floating Nuclear Reactors

Bluecore Energy has raised an additional oversubscribed $50 million seed round to develop floating small modular nuclear reactors.

Silverton Partners led the round, with participation from Collab Capital, Kevin Hart’s HartBeat Ventures, and angel investors from Tesla, Uber, Amazon, and Google. Returning investors include Slauson & Co., Harlem Capital, and Ripple co-founder Chris Larsen.

The fresh capital will fund continued product development, regulatory work, nuclear fuel purchases, and hiring.

Bluecore Energy is Making Power Ubiquitous

Founded earlier this year by Ghanaian American entrepreneur Kofi Asante, Bluecore builds small modular nuclear reactors mounted on floating barges rather than fixed land sites. The power can move wherever it’s needed, from ports and data centers to communities without reliable electricity.

Bluecore Energy hopes this idea will bring clean power to those who need it the most. “The Navy is doing this as we speak, for the last 70 years, and has never had an accident,” Asante said about the use of portable technology in an interview with TechCrunch. “We just made it smaller, so you can actually move things around in a way that doesn’t take years — or a new set of infrastructure — but days.”

After emerging from stealth in July, the startup became the first nuclear company headquartered at a major port: the Port of Long Beach. It has since launched two floating barges and partnered with the Department of Transportation Maritime Division, the U.S. Nuclear Regulatory Commission (NRC), and the U.S. Coast Guard.

Bluecore Energy is currently undergoing review with the NRC and the Coast Guard on its product design, which, if successful, will lead to certification of its floating nuclear power plant.

Next Steps for Bluecore

Asante wasn’t planning to fundraise this year, but the calls kept coming after their pre-seed launch. Many pre-seed investors, including Slauson & Co., Harlem Capital, and Ripple co-founder Chris Larsen, doubled down on the new round. New backers include Collab Capital, Kevin Hart’s HartBeat Ventures, and angels from Tesla, Uber, Amazon, and Google. Silverton Partners led the seed round, which closed in eight weeks.

This new capital will fund continued product development, regulatory work, nuclear fuel purchases, and hiring. Asante expects the biggest challenge to be the supply chain, specifically securing the hardware needed to build portable electricity infrastructure at a pace that matches consumer demand.

He said that Bluecore Energy has seen inbound interest from multiple ports, AI data centers, and communities that need clean energy and water. “Our team comes from SpaceX, Rivian, and Toyota, so we are applying similar strategies to be able to secure critical parts,” he said.

“We already have barges and a reactor and are now about to order nuclear fuel to go to our partner at a national nuclear lab.” It all goes back to the core mission, Asante said, to democratize access to clean energy.

“My philosophy is that access to clean energy and also clean water should be a human right,” he continued.

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