US start-up Bluecore Energy has closed an oversubscribed $50m seed funding round to accelerate the development, testing, and deployment of barge-mounted floating small modular reactors (SMRs). Led by Silverton Partners, this financing comes just two months after the startup emerged from stealth with a $10m pre-seed round, bringing its total funding to $60m.
The oversubscribed round included continued backing from Slauson & Co alongside notable celebrity and angel investors from Tesla, Uber, Amazon, and Google. The $50m will fund continued engineering, hardware validation, hiring, and regulatory work. It unlocks the capital required to order its first nuclear fuel by the end of the year, targeting first criticality potentially as early as 2027.
The Port of Long Beach-based startup, founded by former Uber Freight executive Kofi Asante, is designing water-cooled, 10 MWe continuous-power systems. By building on mobile barges, Bluecore aims to transport clean energy to ports, coastal AI data centres, and critical infrastructure within days, bypassing the protracted land-fights that typically delay traditional nuclear infrastructure.
Bluecore has already secured its first electric test reactor and barge at its California headquarters. The company has initiated formal joint design reviews with the US Nuclear Regulatory Commission (NRC) and the US Coast Guard to secure official civilian maritime nuclear certifications and has formed a partnership with the Department of Transportation Maritime Division.
“Six months ago, we were building the foundation,” said Asante. “Today, we have the capital, the team, the hardware, and some of the most important institutions in nuclear and maritime working alongside us. Our focus now is simple: create and deliver zero-emission energy as safely and quickly as possible.”
Bluecore Energy’s floating small modular reactor (SMR) relies on established, civilian light-water reactor (LWR) technology, adapting 70 years of proven nuclear physics into a highly compact, sea-going architecture. Rather than engineering experimental nuclear chemistry, Bluecore focuses its innovation on the physical packaging and shipyard deployment of standard reactor principles.
Other investors included Harlem Capital, Precursor Ventures, LMNT, Visible Hands VC, Karman Ventures, Chris Larsen, co-founder of Ripple, Capital Factory, Share VC, X&, Markham Ventures, and Hartbeat Ventures. The round also includes new investors, MaC Ventures, Collab Capital, Vanderbilt, Scribble, Fortson, Borusan, Symphony Ventures, Act One Ventures, Animal Capital, Black Angel Group, Rackhouse Ventures, including Simu Lu firm Markham Ventures, Kevin Hart’s firm Hartbeat Ventures, Joel Embiid, NBAYoungboy, Malik Monk and Taijuan Walker.
