Bluecore Energy announced Tuesday an oversubscribed $50 million seed round, just months after raising a $10 million pre-seed and coming out of stealth. The company, founded earlier this year by Kofi Asante, builds small nuclear reactors on floating barges rather than fixed locations, aiming to generate clean energy for ports and nearby infrastructure. The round took eight weeks to close, and Asante said he was not anticipating raising that level of capital in that period of time.
Silverton Partners led the new seed round. Many pre-seed investors doubled down, including Slauson & Co., Harlem Capital, and Ripple co-founder Chris Larsen. New capital came from Collab Capital, Kevin Hart's HartBeat Ventures, and angel investors from Tesla, Uber, Amazon, and Google. When Bluecore Energy emerged from stealth in July, it became the first nuclear company headquartered at a major port, the Port of Long Beach. It has since launched two floating barges and struck partnerships with the Department of Transportation Maritime Division, the U.S. Nuclear Regulatory Commission, and the U.S. Coast Guard.
The fresh capital will fund continued product development, regulatory work, nuclear fuel purchases, and hiring. Asante said the company is now undergoing review with the NRC and the Coast Guard on its product design, which, if successful, will lead to certification of its floating nuclear power plant. He anticipates the biggest challenge to be the supply chain, securing hardware to build portable electricity infrastructure at a pace that can match consumer demand. Bluecore Energy has seen inbound interest from multiple ports, AI data centers, and communities that need clean energy and water.
What remains unknown is the timeline for regulatory certification and whether the company can secure nuclear fuel and critical parts at the pace required. The dossier does not specify valuation, ownership stakes, or detailed terms of the seed round. Asante's team draws from SpaceX, Rivian, and Toyota, and he said the company already has barges and a reactor and is about to order nuclear fuel for a partner at a national nuclear lab. The evidence is limited to a single TechCrunch report, so independent confirmation of the funding amount and partnership details is not yet available.