Analysis
Bluecore Energy closed an oversubscribed $50 million seed round just two months after emerging from stealth, according to TechCrunch. The round, which took eight weeks to close, adds to the $10 million pre-seed the company raised earlier this year, bringing total disclosed funding to $60 million since July.
Founded by Kofi Asante, Bluecore builds small modular nuclear reactors mounted on floating barges rather than fixed sites, aiming to power ports and nearby data centers with roughly 10 megawatts of continuous output using light-water reactor technology. Asante said his goal is broader than one product line: "My philosophy is that access to clean energy and also clean water should be a human right." The company became the first nuclear startup headquartered at a major U.S. port when it launched from the Port of Long Beach in July, and it has since put two barges in the water and opened talks with the Nuclear Regulatory Commission, the Coast Guard and the Department of Transportation's Maritime Division.
“Investors in the seed round include: - Silverton Partners -- lead investor.”
Investors in the seed round include:
- Silverton Partners -- lead investor.
- Slauson & Co., Harlem Capital and Chris Larsen -- returning pre-seed backers.
- Collab Capital and Hartbeat Ventures (Kevin Hart) -- new institutional money.
- Angel investors from Tesla, Uber, Amazon and Google.
Bluecore's floating approach sets it apart from land-based SMR developers Oklo, which trades near a $40 billion valuation, and X-energy, which has raised more than $1.4 billion, including a $700 million strategic investment from Amazon, ahead of a planned Nasdaq listing.