Constellation Technology Ventures, the venture arm of Constellation operator of the largest fleet of NPPs in the US, is investing in Texas-based start-up Blue Energy, which is developing a modular NPP that can be centrally manufactured in existing shipyards. The investment marks the first investment by Constellation Technology Ventures in a US nuclear developer advancing small modular reactors (SMRs).
Blue Energy, spun out from MIT’s Nuclear Science & Engineering Department in 2023, focuses on light-water SMRs. By integrating with established reactor vendors, Blue Energy can leverage existing regulatory progress to bring their plants to market faster. The company targets “next generation” reactors from established firms to ensure the technology is already familiar to the Nuclear Regulatory Commission (NRC). Their architecture is built specifically for the dimensions and passive safety requirements of modern SMRs.
In April, Blue Energy announced it had raised $380m and forged a strategic collaboration with GE Vernova to develop a multi-gigawatt gas-to-nuclear project utilising GE Vernova gas turbines and BWRX-300 small modular reactors. The company also recently secured a key US Nuclear Regulatory Commission (NRC) licensing milestone that supports its goal of delivering reliable power in 48 months or less through its phased gas-to-nuclear deployment strategy. Blue Energy could begin early site works on its first planned project in Texas in 2026, to support a final investment decision in 2027.
“With demand for near-term power rising, Constellation’s investment will help Blue Energy meet America’s need by making new nuclear development predictable, rapidly scalable, and project financeable for the first time in history,” said Jake Jurewicz, Blue Energy CEO and Co-Founder. “This relationship helps us leverage an established operator, proven technology, and innovative, project-financeable deployment models to expand access to nuclear energy. Together, we’re demonstrating that the future of nuclear energy isn’t a decade away and doesn’t take a leap of faith on technology or construction execution, it’s being built right now.”
David Dardis, Constellation Senior Executive Vice President and Chief External Affairs and Growth Officer, noted: “Constellation is committed to exploring innovative pathways that can help accelerate the deployment of advanced nuclear technologies in the United States and allocate risk appropriately. The Constellation Technology Ventures investment in Blue Energy supports its deployment plans for the GE Vernova Hitachi’s BWRX-300, a proven technology with a potential path to scale for the next generation of nuclear energy.”
Blue Energy’s model is designed to address the problem of financing and deploying new nuclear generation at the speed required to meet growing demand. By utilising proven nuclear technology and employing an innovative large-format robotic prefabrication and assembly method inspired by offshore oil & gas and LNG projects, the company plans to unlock project financing for the first time in the nuclear sector and accelerate deployment timelines.
In November 2025, Blue Energy announced an agreement with AI infrastructure firm Crusoe through which it secured a site for an up to 1.5 GWe nuclear plant in the Port of Victoria, Texas, to power Crusoe AI factories on a nearby site. Blue Energy says its gas-to-nuclear conversion will see it power the proposed 1,600-acre Crusoe AI factory campus from 2028, with a transition to nuclear generation by 2031.
