Bluecore Energy, a startup developing small modular nuclear reactors on floating barges, raised $50 million in a seed funding round. The deal closed in eight weeks, just two months after the company emerged from stealth in July.
Silverton Partners led the investment round. Existing backers, including Slauson & Co., Harlem Capital, and Ripple co-founder Chris Larsen, participated alongside new investors such as Collab Capital and Hartbeat Ventures. The round also attracted angel investors from Tesla, Uber, Amazon, and Google.
The company, founded by Kofi Asante, is headquartered at the Port of Long Beach. It has already deployed two floating barges and established partnerships with the Department of Transportation Maritime Division, the U.S. Nuclear Regulatory Commission, and the U.S. Coast Guard.
Bluecore Energy is currently undergoing a design review process with regulators to secure certification for its power plants. The company plans to use the new capital for product development, regulatory compliance, nuclear fuel procurement, and hiring.
The startup is sourcing hardware for its infrastructure, with a team comprised of former employees from SpaceX, Rivian, and Toyota. The company reports inbound interest from various ports, AI data centers, and communities seeking clean energy and water solutions.
