Nuclear startup Bluecore Energy has raised $50 million in a seed funding round led by Silverton Partners, bringing its total disclosed funding to $60 million since launching out of stealth in July. Based at the Port of Long Beach, the company is developing compact, water-cooled nuclear reactors mounted on floating barges to supply zero-emission power to ports, critical infrastructure, and future artificial intelligence data centers.
Funding Details and Backing
The $50 million financing round follows an initial $10 million pre-seed raise secured when Bluecore emerged from stealth earlier this year. Silverton Partners led the seed financing, with returning participation from Slauson & Co. Additional investors include MaC Ventures, Harlem Capital, Precursor Ventures, LMNT, Visible Hands, Karman Ventures, Ripple co-founder Chris Larsen, Capital Factory, Share Ventures, X&, Markham Valley Ventures, and HartBeat Ventures.
“Six months ago, we were building the foundation. Today, we have the capital, the team, the hardware, and some of the most important institutions in nuclear and maritime working alongside us,” said Kofi Asante, founder and CEO of Bluecore Energy. Asante previously worked on launch teams at Uber’s Advanced Technology Group, Uber Freight, and the Powerloop spinout, alongside stints at Elroy Air and an electric-boat initiative at the Port of Long Beach.
Technology and Regulatory Framework
Bluecore’s initial product is a water-cooled nuclear reactor designed to produce approximately 10 megawatts of continuous power. The system is engineered to operate for years between refuelings and scale by adding units rather than constructing new facilities. Unlike exotic molten-salt or gas-cooled reactor designs pursued by some competitors, Bluecore relies on light-water reactor physics that have operated for decades, housed on a floating maritime platform.
The company’s deployment strategy relies on navigating federal maritime and nuclear oversight. In June, the Nuclear Regulatory Commission (NRC) and the U.S. Coast Guard signed a new memorandum of understanding governing civilian maritime nuclear projects, replacing a framework that had been in place since 1973. Megan Moyette, Bluecore’s licensing and safety lead and a former U.S. Navy submarine officer, noted that both agencies have been coordinating with the company from its earliest meetings.
Market Context
Bluecore enters a growing market for small modular reactors, which Market.us projects will expand from roughly $3.5 billion in 2025 to $14.1 billion by 2035. Competitors in the advanced nuclear sector include Last Energy, which raised $100 million for land-based microreactors, and Amazon-backed X-energy, which is targeting an $814 million initial public offering.
With its newly acquired capital, Bluecore plans to advance engineering, hardware testing, regulatory validation, and manufacturing of its first maritime nuclear system at the Port of Long Beach.