Bluecore Energy, a maritime nuclear energy company developing compact, water-cooled nuclear power systems, today announced the close of a $50 million seed financing to accelerate development, testing, and deployment of its floating nuclear energy systems.
The financing represents a significant expansion of Bluecore Energy’s initial $10 million pre-seed round announced when the company emerged from stealth in July. The round, led by Silverton Partners, includes substantial continued participation from existing investors Slauson & Co., with participation from Harlem Capital, Precursor Ventures, LMNT, Visible Hands VC, Karman Ventures, Chris Larsen, co-founder of Ripple, Capital Factory, Share VC, X&, Markham Ventures, and Hartbeat Ventures. The round also includes new investors, MaC Ventures, Collab Capital, Vanderbilt, Scribble, Fortson, Borusan, Symphony Ventures, Act One Ventures, Animal Capital, Black Angel Group, Rackhouse Ventures, including Simu Lu firm Markham Ventures, Kevin Hart’s firm Hartbeat Ventures, Joel Embiid, NBAYoungboy, Malik Monk, Taijuan Walker, and a group of strategic angel investors who are former leaders at Tesla, Uber, Amazon, and Google.
The new capital follows a period of rapid progress for Bluecore Energy across technology development, federal nuclear testing, maritime classification, regulatory engagement, and physical infrastructure.
Since emerging from stealth, Bluecore Energy has continued to build on its established headquarters and development operation inside the Port of Long Beach, secured its first barge, continued development of its first maritime nuclear energy system, and advanced its work with the Nuclear Regulatory Commission (NRC), and the U.S. Coast Guard.
“Six months ago, we were building the foundation. Today, we have the capital, the team, the hardware, and some of the most important institutions in nuclear and maritime working alongside us. Our focus now is simple: create and deliver zero-emission energy as safely and quickly as possible. ,” said Kofi Asante, Founder and CEO of Bluecore Energy.
From Capital to Execution
Bluecore Energy is developing floating nuclear power systems designed to bring reliable, zero-emission energy directly to ports, critical infrastructure and other locations facing rapidly growing power demand.
The company’s initial system is being designed to produce approximately 10 MWe of continuous power, using water-cooled nuclear technology and a maritime architecture designed to operate for years at a time, requiring refueling only once every few years, and to scale as energy needs grow.
The new financing will support continued engineering and hardware development, testing and validation, regulatory and classification work, manufacturing, hiring and advancement of Bluecore Energy’s first system toward deployment. Building on more than 70 years of proven nuclear technology and maritime nuclear precedent, Bluecore Energy is working to make nuclear power smaller, scalable through manufacturing, and deployable on water—expanding where and how reliable nuclear energy can be delivered.
The size of the new round also reflects continued conviction from investors who have been alongside the company from its earliest stages.
“We invested in Bluecore Energy because of the scale of the opportunity and the team’s ability to execute. What they have accomplished in a remarkably short period of time has only strengthened that conviction. This is a team building real infrastructure to address one of the most important energy challenges of our generation.” - Slauson&Co.
Building the Safety and Regulatory Pathway
Bluecore Energy is developing its technology alongside the institutions responsible for establishing the standards required for commercial maritime nuclear deployment.
Bluecore Energy has also officially kicked off its regulatory engagement with the U.S. Nuclear Regulatory Commission (NRC) and U.S. Coast Guard, beginning a coordinated process to address the unique regulatory considerations for commercial maritime nuclear deployment.
The regulatory environment for maritime nuclear is also evolving. The NRC and U.S. Coast Guard have established a memorandum of understanding creating a framework for coordinating requirements around the design, construction, operation, and oversight of civilian floating nuclear power plants and nuclear propulsion systems. The NRC states that existing federal frameworks can be used to license maritime nuclear reactors.
That framework builds on decades of experience with light-water reactor technology. Light-water reactors have operated in the United States for more than 70 years and today provide roughly 20% of the nation’s electricity. Bluecore Energy is applying that proven technological foundation to a smaller, maritime system designed for a new generation of energy needs.
For Bluecore Energy, safety, licensing, and classification are not steps that come after the technology is built. They are being developed alongside it.
“The regulatory landscape for commercial nuclear maritime is coming together at exactly the right time. The MOU between the NRC and Coast Guard signals that the federal government is taking maritime nuclear seriously, and our experience so far has been encouraging. We've had both agencies at the table from our very first meeting, actively coordinating. That kind of early collaboration gives us a lot of confidence in the path forward,” said Megan Moyette, Licensing & Safety Lead at BLUECORE ENERGY. 13-year Navy Nuclear Submarine Officer
Nuclear Power Designed for the Maritime Environment
Unlike conventional nuclear power plants built around permanent land-based sites, BLUECORE ENERGY is designing its systems from the beginning for deployment on floating maritime platforms. That architecture creates flexibility in where future systems can operate.
Depending on the application, regulatory requirements, and site-specific safety analysis, future Bluecore Energy systems could support ports, AI data centers, and coastal infrastructure from appropriate maritime locations, including potential offshore deployment.
This means that generating power where it is needed does not inherently require locating a reactor on valuable land or immediately alongside the communities and infrastructure that consume the electricity.
Future sites and operating configurations will be determined through the appropriate federal regulatory, maritime, environmental, security, and safety processes.The maritime environment is not an adaptation of Bluecore Energy’s technology. It is fundamental to how the system is being designed.
Building at the Port of Long Beach
Bluecore Energy is headquartered inside the Port of Long Beach, where the company is developing its first maritime nuclear energy system.
In July, the Port of Long Beach and the U.S. Department of Transportation’s Maritime Administration entered into a first-of-its-kind Memorandum of Cooperation to explore maritime energy systems, including potential integration of small modular reactors, resilient port microgrids, shoreside power infrastructure and advanced vessel propulsion technologies.
“There is no better place to launch the next generation of zero-emission maritime energy than the world’s first Green Port,” said Long Beach Mayor Rex Richardson. “Long Beach has always been where global trade meets innovation, and today we’re becoming the place where the technologies that will power the future of the maritime economy are developed. BLUECORE ENERGY’s decision to build here reflects the momentum we’re creating by bringing together clean technology, advanced manufacturing, and world-class talent to grow the industries that will define the next generation
BLUECORE ENERGY’s presence at the Port places its engineering team directly inside one of the nation’s most consequential maritime and logistics environments while the company develops and validates its technology.
“Guided by our new 2050 vision, the Port of Long Beach is preparing for a future defined by electrification, growing energy demand and the transition to zero-emissions operations, which will require hundreds of megawatts of energy. Meeting that future will require new technologies and approaches to energy sources. We are excited to welcome BLUECORE ENERGY to the Port of Long Beach and its commitment to developing zero-emissions energy SMR solutions alongside the maritime community,” said Dr. Noel Hacegaba, Chief Executive Officer of the Port of Long Beach.
The company’s current work at the Port includes research and development of a non-fueled maritime reactor module prototype used to develop and validate monitoring, sensor and control systems.
The distinction is intentional: Bluecore Energy can develop its technology at the Port while future fueled systems can ultimately be deployed in maritime environments appropriate to their regulatory, operational and safety requirements.
Building the Team Behind Maritime Nuclear
Bluecore Energy’s team brings together experience across nuclear engineering, U.S. Navy nuclear operations, licensing and regulation, maritime systems, manufacturing, aerospace and advanced technology.
The company includes former U.S. Navy nuclear submarine officers and leaders with experience across organizations including SpaceX, Northrop Grumman, Toyota, Rivian and Uber.
As Bluecore Energy enters its next phase, the company will use the new capital to expand that team while continuing to build the technology, infrastructure and institutional partnerships required for commercial deployment.
Bluecore Energy’s mission remains simple: Democratize access to clean energy.
