Bluecore Energy Secures $10M Funding for Innovative Barge-Based Nuclear Reactor Development
Bluecore Energy, a startup focused on maritime nuclear energy, announced on Tuesday that it has secured $10 million in pre-seed funding, with Slauson & Co. leading the investment.
Established just seven months ago by Kofi Asante, a former employee at Uber Freight, Bluecore is developing small nuclear reactors (SMRs) positioned on floating barges. The enterprise aims to supply clean energy to ports and surrounding facilities. According to Asante, the reactors generate steam by heating water, which powers a generator that turns a turbine to produce electricity. The system operates on a closed-loop water-cooling mechanism.
Asante claims that the power generated on Bluecore’s barges can be transported by ship, effectively minimizing emissions associated with transportation to zero. He noted that the entire nuclear system only requires refueling every few years.
The barges can dock near local communities and connect to the electrical grid through subsea cables. Asante aims to generate enough energy to power approximately 15,000 homes or scale up to fulfill the energy demands of a significant port.
“We are leveraging over 70 years of existing water-cooled nuclear technology,” Asante stated. “With a production line for small modular reactors that can be quickly deployed on water, we have a clear path to deliver clean energy across much of the country.”
The newly acquired funding will be directed toward the implementation of their product. Asante mentioned that Bluecore has already secured a port terminal, a barge, and a test reactor pressure vessel. “The test vessel will allow us to simulate water flow, which serves as the cooling source for the system. We are integrating hardware with software testing to validate and ensure the reliability of our design,” he added.
The startup is collaborating with regulatory bodies to ensure the safest design for its initial product. Asante has emphasized their commitment to building multiple layers of safety and redundancy, including encasing uranium in a durable steel pressure vessel that is further protected with concrete shielding and steel lining.
Asante is optimistic that Bluecore could address the growing energy demand driven by the expansion of data centers. “Executives from AI data centers have indicated that by having their own energy source and access to seawater, they would not need to draw water or power from surrounding communities,” he explained.
Other backers in this funding round include Harlem Capital, Precursor Ventures, Chris Larsen, co-founder of Ripple, actor Kevin Hart’s Hartbeat Ventures, along with several angel investors.
