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Bluecore Energy raises $10M to build portable nuclear reactors on barges
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Bluecore Energy, a maritime nuclear energy startup, has raised $10 million in a pre-seed funding round led by Slauson & Co. The company aims to build small modular nuclear reactors (SMRs) on floating barges to provide clean power to ports and nearby infrastructure. Founded just seven months ago by Kofi Asante, a former Uber Freight employee, Bluecore seeks to address the growing demand for emission-free energy solutions.
The reactors work by heating water and transferring the resulting steam into a generator, which spins a turbine to produce electricity. The system uses a water-cooled closed-loop design, and the barges can be moved by ship to different locations, eliminating transportation emissions. According to Asante, the entire nuclear power plant only needs refueling every few years, making it a low-maintenance energy source.
Bluecore's barges can dock near communities and connect to the power grid via subsea cables. The startup aims to power the equivalent of approximately 15,000 homes or meet the energy needs of a major port. Asante emphasizes that their technology relies on water-cooled nuclear technology that has been operating for over 70 years, but with the advantage of rapid deployment on water.
The $10 million funding will be used to deploy the product. Bluecore has already secured a port terminal, a barge, and a test reactor pressure vessel. The test vessel simulates water flow to validate the design, combining hardware and software testing. The startup is also working with regulatory agencies to embed safety features, such as uranium cladding, thick steel pressure vessels, concrete shielding, and steel lining.
The implications of Bluecore's technology could be significant for data centers, which face increasing power demands. Asante noted that AI data center executives have expressed interest in receiving their own electricity source at sea to avoid pulling water or energy from local communities. This could alleviate strain on local grids and reduce environmental impact.
Other investors in the round include Harlem Capital, Precursor Ventures, Ripple co-founder Chris Larsen, actor Kevin Hart’s HartBeat Ventures, and several angel investors. Bluecore's approach represents a novel application of nuclear energy, potentially offering a scalable solution for clean power in coastal areas.
Looking ahead, Bluecore plans to continue testing and development, with the goal of deploying its first operational barge in the near future. Asante is optimistic about the pathway to providing clean energy to the majority of the country through a production line of water-based SMRs. The success of this venture could mark a new era in portable, emission-free power generation.
