Bluecore Energy, a maritime nuclear energy startup, has successfully raised $10 million in a pre-seed funding round led by Slauson & Co. The company, founded seven months ago by Kofi Asante, a former Uber Freight executive, is developing small modular reactors (SMRs) mounted on floating barges to deliver clean power to ports and adjacent infrastructure.
The SMRs operate by heating water to produce steam, which drives a turbine connected to a generator, thereby producing electricity. This system utilizes a closed-loop water-cooling mechanism. Notably, the energy generated on these barges can be transported by ship to various locations without emissions, and the reactors require refueling only once every few years.
Bluecore’s floating reactors can be stationed near communities and connected to the power grid through subsea cables. Each unit is designed to supply electricity sufficient for approximately 15,000 homes or to meet the energy demands of major ports. The company leverages existing water-cooled nuclear technology, which has been in operation for over 70 years, to create a production line of SMRs that can be rapidly deployed on water, offering a pathway to provide clean energy across the country.
The newly acquired funding will be utilized to advance product deployment. Bluecore has already secured a port terminal, barge, and a test reactor pressure vessel. The test vessel enables the simulation of water flow, serving as the system’s cooling source. The company is integrating hardware with software testing to validate and verify the foundational design.
In collaboration with regulatory agencies, Bluecore is embedding safety measures into its initial product. The design incorporates multiple layers of safety and redundancy, including uranium encased in a thick steel pressure vessel, further protected by concrete shielding and steel lining.
Asante envisions Bluecore’s technology addressing the escalating power demands driven by the expansion of data centers. By providing dedicated sources of electricity and access to seawater, AI data centers could operate without drawing resources from surrounding communities.
Additional investors in this funding round include Harlem Capital, Precursor Ventures, Ripple co-founder Chris Larsen, and actor Kevin Hart’s Hartbeat Ventures, along with several angel investors.
Bluecore Energy’s innovative approach to deploying portable nuclear reactors on barges represents a significant advancement in clean energy solutions. By utilizing established nuclear technology in a mobile format, the company aims to provide flexible and sustainable power sources to meet the growing energy needs of various sectors, including maritime operations and data centers. This development underscores the potential of modular nuclear reactors in addressing contemporary energy challenges.
