Nuclear startup Bluecore Energy raises $50M seed round, just two months after launch

Key Points:

• Bluecore Energy raised an oversubscribed $50 million seed round shortly after a $10 million pre-seed, aiming to develop small nuclear reactors (SMRs) on floating barges to provide clean energy to ports and nearby infrastructure.
• The company, founded by Kofi Asante, emphasizes portability of its nuclear reactors, enabling energy to be transported quickly without the need for new infrastructure, drawing on decades of Navy experience with portable nuclear technology.
• Investors in the seed round include returning backers like Slauson & Co. and Harlem Capital, as well as new participants such as Kevin Hart’s HartBeat Ventures and angels from Tesla, Uber, Amazon, and Google; Silverton Partners led the round.
• Bluecore Energy, headquartered at the Port of Long Beach, has launched two floating barges and is partnering with the U.S. Department of Transportation Maritime Division, Nuclear Regulatory Commission, and Coast Guard, currently undergoing regulatory review for certification.
• The new funding will support product development, regulatory approval, nuclear fuel procurement, and hiring, with the company focusing on supply chain challenges and aiming to democratize access to clean energy and water as a human right.