Key facts
- Bluecore Energy raised $10 million in a pre-seed funding round.
- The company is developing small modular nuclear reactors (SMRs) on floating barges.
- The reactors are designed to provide clean power to ports and nearby infrastructure.
- The system uses existing water-cooled nuclear technology and is refueled every few years.
- The capital will be used to deploy the product, with initial assets already secured.
Maritime nuclear energy startup Bluecore Energy has secured $10 million in a pre-seed funding round, led by Slauson & Co., to develop and deploy small modular nuclear reactors (SMRs) on floating barges. Founded seven months ago by Kofi Asante, the company aims to provide clean, mobile power solutions for ports, industrial infrastructure, and potentially data centers.
The technology involves heating water to create steam that drives a generator, with the system being water-cooled in a closed-loop. Asante highlighted that the barge-mounted reactors can be moved to different locations, offering zero-emission transport of energy. He also noted the system requires refueling only once every few years.
Bluecore's barges are designed to connect to the power grid via subsea cables and can provide power equivalent to approximately 15,000 homes or meet the needs of a major port. Asante emphasized the use of established water-cooled nuclear technology and the potential for rapid deployment through a production line of SMRs.
The startup has already secured a port terminal, a barge, and a test reactor pressure vessel for simulation and validation of its design. Bluecore is actively engaging with regulatory agencies to ensure safety and redundancy, incorporating features like clad uranium, a steel pressure vessel, concrete shielding, and steel lining.
Asante sees a significant opportunity to address the growing power demands of AI data centers, which often require substantial energy and water resources. He mentioned that data center executives have expressed interest in dedicated, off-grid power sources provided at sea.
Other investors in the funding round include Harlem Capital, Precursor Ventures, Ripple co-founder Chris Larsen, and Kevin Hart's Hartbeat Ventures, alongside several angel investors.