Bluecore Energy has raised $10 million in pre-seed funding to develop small nuclear reactors on barges, aiming to provide clean energy to ports and communities.
New Delhi, India Jul 21, 2026 ALN: Maritime nuclear energy startup Bluecore Energy on Tuesday said it had raised $10 million in a pre-seed funding round that was led by Slauson & Co.
Founded seven months ago by Kofi Asante, who previously worked with Uber Freight, Bluecore is building small nuclear reactors (SMRs) on floating barges with an aim to provide clean power to ports and nearby infrastructure. The reactors heat water and transfer the resulting steam into a generator, which then spins a turbine to generate electricity, Asante explained. The system is water-cooled in a closed-loop.
The energy expected to be produced on Bluecore’s barges can be moved by ship to its next location, reducing the emission involved in its transport to zero, Asante claims. Plus, he said the entire system behind the nuclear power plant only needs to be refueled once every few years.
Bluecore’s barges can also be docked near communities, and can connect to the power grid via subsea cables. The goal is to try to power the “equivalent of approximately 15,000 homes or scale to meet the power needs of a major port,” he told.
“We are able to utilize existing water-cooled nuclear technology that has been operating for over 70 years,” he said. “With a production line of small modular reactors that can be rapidly deployed on water, there is a pathway to provide clean energy to the majority of the country.”
Bluecore will be using the fresh capital to deploy its product. It has already secured a port terminal, barge, and test reactor pressure vessel, Asante said. “The test vessel allows us to simulate flow with water, which is the cooling source of the system. We are combining hardware with software testing to validate and verify the foundation of our design,” he added.
The startup is working with regulatory agencies to “embed the safest design decision” into its first product. Asante said the startup is building many layers of “safety and redundancy,” like having the uranium clad and protected in a thick steel pressure vessel and then padded with concrete shielding and steel lining.
Asante is hoping Bluecore may be able to help with the increasing power demand sparked by the ongoing data center buildout. “AI data center execs have shared with me that they would not need to pull water or energy from communities around them if they are able to receive their own source of electricity and have access to water that is provided at sea,” he said.
Other investors in the round include Harlem Capital, Precursor Ventures, Ripple co-founder Chris Larsen, and actor Kevin Hart’s HartBeat Ventures, as well as a few angel investors.
The concept of small modular reactors represents a significant shift in the nuclear energy landscape. Traditionally, nuclear power plants have been large, complex, and often expensive to build and maintain. The development of SMRs aims to address some of these challenges by offering a more flexible and scalable approach to nuclear energy generation. These smaller reactors are designed to be built in factories and shipped to sites, which can reduce construction costs and timelines.
As the world grapples with the urgent need to transition to cleaner energy sources, the role of nuclear power has been increasingly scrutinized and debated. Proponents argue that nuclear energy is a vital solution to reducing carbon emissions and combating climate change, while opponents raise concerns about safety, waste disposal, and the potential for catastrophic failures. Bluecore's focus on portable nuclear reactors may help mitigate some of these concerns by providing a more controlled and manageable approach to nuclear energy deployment.
The use of floating barges for nuclear reactors is particularly innovative, as it allows for the energy to be generated close to where it is needed without the extensive land use and infrastructure requirements associated with traditional nuclear plants. This could be especially beneficial for coastal cities and regions with limited space for large energy facilities. Additionally, the ability to relocate these barges may provide a level of adaptability that traditional power plants cannot offer.
Regulatory challenges remain a significant hurdle for the nuclear industry. The approval process for new nuclear technologies can be lengthy and complex, requiring extensive safety assessments and compliance with stringent regulations. Bluecore's proactive engagement with regulatory agencies is a critical step in ensuring that its designs meet safety standards and can be brought to market efficiently. The emphasis on safety and redundancy in their reactor design, including thick steel pressure vessels and concrete shielding, reflects an understanding of the public's concerns regarding nuclear safety.
The investment from notable figures and organizations, including Harlem Capital and Chris Larsen, underscores the growing interest and confidence in the potential of nuclear technology as part of the broader energy transition. With increasing demand for electricity driven by technological advancements and population growth, innovative solutions like Bluecore's portable nuclear reactors could play a crucial role in meeting future energy needs.
Furthermore, the startup's focus on providing energy for data centers highlights a crucial intersection between technology and energy. As the demand for data storage and processing capabilities continues to surge, especially with the rise of artificial intelligence and cloud computing, ensuring that these facilities have reliable and sustainable energy sources is becoming increasingly important. Bluecore's approach may offer a solution that alleviates the pressure on local communities and resources while providing the necessary power for these energy-intensive operations.
In conclusion, Bluecore Energy's recent funding round and its ambitious plans to deploy portable nuclear reactors on floating barges represent a significant development in the nuclear energy sector. As the company moves forward with its plans, it will be essential to monitor its progress and the response from regulatory bodies, local communities, and the broader energy market. The implications of successful deployment could extend beyond just energy generation, potentially reshaping how we think about nuclear power in the context of sustainability, adaptability, and technological advancement.
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