Bluecore Energy Secures $10M Funding for Innovative Barge-Mounted Nuclear Reactors

Bluecore Energy Raises $10 Million in Pre-Seed Funding Round

Bluecore Energy, a maritime nuclear energy startup, announced on Tuesday that it successfully raised $10 million in a pre-seed funding round led by Slauson & Co.

Founded just seven months ago by Kofi Asante, who previously worked with Uber Freight, Bluecore Energy is focused on developing small nuclear reactors (SMRs) on floating barges to provide clean power to ports and nearby infrastructure. These reactors utilize a system where steam generated from heating water is transferred into a generator to produce electricity. Asante highlighted that the system is water-cooled within a closed-loop.

One of the key advantages of Bluecore Energy’s technology is its mobility. The energy produced on the barges can be easily transported to different locations by ship, significantly reducing emissions related to transportation. Additionally, Asante mentioned that the nuclear power plant only needs to be refueled once every few years.

Bluecore Energy’s barges are designed to be docked near communities and can connect to the power grid through subsea cables. Asante stated that the goal is to power the equivalent of around 15,000 homes or even scale up to meet the energy demands of a major port.

Asante emphasized the use of existing water-cooled nuclear technology that has been in operation for over 70 years. By deploying a production line of small modular reactors that can be quickly set up on water, Bluecore Energy aims to provide clean energy on a large scale.

The recently secured funding will be utilized by Bluecore Energy to deploy its product. Asante revealed that the startup has already acquired a port terminal, barge, and test reactor pressure vessel. The test vessel enables simulation of flow with water, which serves as the cooling source for the system. Hardware and software testing are being combined to validate and confirm the design’s foundation.

Collaborating with regulatory agencies, Bluecore Energy is prioritizing safety in its design decisions. Asante mentioned the incorporation of multiple layers of safety and redundancy, such as protecting the uranium with a thick steel pressure vessel, concrete shielding, and steel lining.

Looking ahead, Asante sees Bluecore Energy as a potential solution to the rising power demand driven by the expansion of data centers. He shared insights from AI data center executives, indicating that having their own source of electricity and access to seawater could reduce the need to draw resources from surrounding communities.

The pre-seed funding round also saw investment from Harlem Capital, Precursor Ventures, Ripple co-founder Chris Larsen, actor Kevin Hart’s HartBeat Ventures, and several angel investors.

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