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On December 17, 2024, nuclear startup Bluecore Energy announced an oversubscribed $50 million seed round, just two months after its public launch and a $10 million pre-seed raise. The company, founded earlier this year by Kofi Asante, designs small modular reactors (SMRs) mounted on floating barges, aiming to deliver clean electricity to ports and surrounding infrastructure without the years-long permitting and construction typical of land-based nuclear plants.
“The Navy has been operating portable reactors safely for 70 years. We’ve simply scaled the technology down so that deployment takes days, not years,” Asante told TechCrunch in an exclusive interview. The portable model allows energy to be moved to where it’s needed most, a concept Asante believes can democratize access to clean power.
The funding round, which took just eight weeks to close, was led by Silverton Partners. Existing backers Slauson & Co., Harlem Capital, and Ripple co-founder Chris Larsen doubled down on their investment. New investors include Collab Capital, Kevin Hart’s HartBeat Ventures, and angel investors with ties to Tesla, Uber, Amazon, and Google. Asante said the cap table was repeatedly expanded to accommodate surging investor interest.
Bluecore Energy is the first nuclear company to be headquartered at a major port — the Port of Long Beach. Since emerging from stealth in July, it has launched two floating barges and secured formal partnerships with the U.S. Department of Transportation’s Maritime Division, the Nuclear Regulatory Commission (NRC), and the U.S. Coast Guard. The company is now undergoing product design review with both regulators, a critical step toward certification of its floating nuclear power plant.
“We’ve been in discussions with regulators since the company’s inception, but the formal engagement kicked off in August,” Asante explained. The fresh capital will fund continued product development, regulatory work, nuclear fuel procurement, and hiring. Asante sees the supply chain as the biggest near-term hurdle, particularly securing hardware for portable electricity infrastructure at a pace that matches demand.
Demand is already strong. Asante noted inbound interest from multiple ports, AI data centers, and communities lacking reliable clean energy and water. The need for carbon-free, always-on power is especially acute in the AI sector, where data center electricity consumption is projected to triple by 2030. Floating nuclear reactors offer a solution that avoids the land-use conflicts and grid upgrades required by traditional plants.
Industry experts echo the potential. According to a recent analysis by the Nuclear Energy Institute, portable SMRs could fill a critical gap in the clean energy transition, particularly for coastal industrial zones and island communities. The report highlights that floating reactors can be built in shipyards and towed to site, dramatically reducing construction risk and timeline.
Bluecore’s team brings manufacturing experience from SpaceX, Rivian, and Toyota. “We’re applying the same disciplined supply chain strategies to secure critical components,” Asante said. “We already have barges and a reactor. Now we’re ordering nuclear fuel to work with our partner at a national nuclear lab.”
The company’s mission extends beyond electricity. Asante emphasized that access to clean energy and clean water should be a human right. The floating reactors are designed to also provide desalination capabilities, addressing water scarcity in port communities.
With the $50 million seed round, Bluecore Energy is positioning itself as a frontrunner in the nascent floating nuclear sector. As regulatory reviews progress and partnerships expand, the startup aims to demonstrate that portable nuclear power can scale safely and quickly — a vision that has drawn support from both climate tech investors and national security stakeholders.
