Nuclear Startup Bluecore Energy Raises $50M Seed Round Just Two Months After Launch

Bluecore Energy announced Tuesday an oversubscribed $50 million seed round, just months after raising a $10 million pre-seed and emerging from stealth. The company, founded earlier this year by Kofi Asante, develops small modular reactors (SMRs) mounted on floating barges rather than fixed sites, aiming to deliver clean energy to ports and nearby infrastructure. This mobility allows power to be transported where needed—an approach Asante hopes will democratize access to clean energy. Asante, a former Uber alum, emphasizes the safety and efficiency of portable nuclear technology, noting that the U.S. Navy has used it for 70 years without accidents. "We just made it smaller, so you can actually move things around in a way that doesn’t take years—but days," he told TechCrunch. Initially not planning to fundraise this year, Asante found demand overwhelming after the pre-seed launch. Existing investors, including Slauson & Co., Harlem Capital, and Ripple co-founder Chris Larsen, doubled down, joined by new backers like Collab Capital, Kevin Hart's Hartbeat Ventures, and angels from Tesla, Uber, Amazon, and Google. Silverton Partners led the round, which closed in eight weeks. "I wasn’t anticipating raising that level of capital in that period of time, but I’m fortunate to have so many investors excited," Asante said. Since coming out of stealth in July, Bluecore Energy has become the first nuclear company headquartered at a major port—the Port of Long Beach. It has launched two floating barges and partnered with the Department of Transportation Maritime Division, the Nuclear Regulatory Commission (NRC), and the U.S. Coast Guard. The company is now undergoing product design reviews with the NRC and Coast Guard, a step toward certifying its floating nuclear power plant. Formal engagement began in August, following discussions since the company's inception. Fresh capital will support product development, regulatory work, nuclear fuel purchases, and hiring. Asante identifies supply chain as a key challenge, focusing on securing hardware to meet demand. "We already have barges and a reactor and are about to order nuclear fuel for our partner at a national nuclear lab," he said. The company has seen interest from ports, AI data centers, and communities needing clean energy and water. Asante, whose team hails from SpaceX, Rivian, and Toyota, stays committed to the mission: "My philosophy is that access to clean energy and clean water should be a human right."

via TechCrunch