Bluecore Energy, a startup based in Long Beach, has secured $50 million in a seed funding round led by Silverton Partners. The company has raised a total of $60 million across two rounds since exiting stealth mode in July. Other investors include Slauson & Co., Harlem Capital, Precursor Ventures, and Ripple co-founder Chris Larsen.
The company is developing water-cooled nuclear reactors mounted on floating barges. The first product is a 10 MWe unit designed for long-term operation without frequent refueling. The modular design allows for scaling by adding additional units. The team includes former U.S. Navy submarine officers and engineers from companies such as SpaceX, Northrop Grumman, and Rivian.
Bluecore aims to provide energy for ports, coastal infrastructure, and AI data centers. The regulatory environment for maritime nuclear projects has shifted following a June memorandum of understanding between the U.S. Nuclear Regulatory Commission and the Coast Guard. This agreement updates the previous framework established in 1973.
The startup faces competition from companies like Last Energy and X-energy, which focus on land-based microreactors. According to Market.us, the global small modular reactor market is expected to grow from approximately $3,5 billion in 2025 to $14,1 billion by 2035. Bluecore is currently working with the Port of Long Beach to support its 2050 electrification goals.
