New Ocean-Cooled Nuclear Reactor To Deliver Power To 15,000 Coastal Homes
Clean energy startup, Bluecore Energy, has announced an oversubscribed $50 million seed round led by Silverton Partners.
The startup, which builds small modular nuclear reactors (SMRs) on floating barges, within just nine months of launch has rapidly accelerated its path towards floating nuclear power by securing a port terminal, receiving its first barge, and starting construction on a test reactor.
Designed specifically for commercial applications, the reactor incorporates multiple layers of protective shielding and continuous water-based cooling to ensure safe, resilient operation out at sea.
The company’s founder, Kofi Asante announced in a LinkedIn post: “Our focus is simple. Create and deliver zero-emission energy as safely and quickly as possible. Over 3 billion people live within an hour of water. We want to power them all.”
Bluecore Energy emerged from stealth on July 21 with $10 million in pre-seed funding to deploy floating SMRs directly on mobile barges.
The startup, the first SMR developer based inside a major US shipping hub, operates directly out of its headquarters at the Port of Long Beach, California.
The goal is to build a 10 MWe water-cooled reactor system using established maritime nuclear physics enclosed in steel pressure vessels and concrete shielding. The reactor will be capable of powering roughly 15,000 homes and can operate for years on a single fueling.
Designed to be modular, multiple units can be chained together to scale up and deliver reliable, long-term power to major ports, utilities, AI data centers, offshore facilities, and energy-constrained coastal communities.
Bluecore’s initial target is its hometown Port of Long Beach — the first American port to publicly back floating nuclear energy.
“Nuclear energy at sea is not a new idea. Our opportunity is to take lessons from decades of maritime nuclear experience and combine them with modern engineering to build systems for a new generation of commercial applications,” stated Asante, a former Uber Freight executive.
The startup has already secured and delivered its first physical barge alongside an electric test reactor to its port site. This will allow the engineering team to actively construct, test, and refine system components in real-world conditions.
Alongside these hands-on development milestones, Bluecore is rapidly advancing its formal regulatory, design classification, and commercialisation pathways by deepening its technical engagement with both the US Nuclear Regulatory Commission and the US Coast Guard.
Its platform leverages offshore mobility to overcome land-based energy constraints. The company’s small modular reactors will be mounted on mobile barges that can be moored or anchored like offshore oil rigs. These will be connected directly to land infrastructure using high-capacity subsea power cables.
Positioned out in open waters, the units naturally draw on the ocean for continuous cooling.
According to TechCrunch, this seed round drew strong support from returning pre-seed backers, including Slauson & Co., Harlem Capital, and Ripple co-founder Chris Larsen. And high-profile new investors, such as Collab Capital, Kevin Hart’s HartBeat Ventures, and angel investors from Tesla, Uber, Amazon, and Google.
With the new capital, Bluecore will place its first order for nuclear fuel. The primary operational challenge facing the company is navigating hardware supply chain issues.
The startup, staffed by veterans from SpaceX, Rivian, and Navy submarine units, is already undergoing joint design review with the US Nuclear Regulatory Commission and the Coast Guard.
