Maritime energy startup Bluecore Energy has emerged with $10 million in pre-seed funding to advance a new approach to clean energy generation by building small modular nuclear reactors (SMRs) on floating barges. The investment round was led by Slauson & Co. and comes just seven months after former Uber Freight executive Kofi Asante founded the company.
Bluecore’s concept is designed to deliver reliable, low-carbon electricity to ports, coastal infrastructure and nearby communities. Its floating reactors generate heat through nuclear fission, producing steam that powers turbines to create electricity. The system uses a closed-loop water-cooling process and is designed to operate for several years before requiring refuelling.
Floating reactors aim to provide flexible clean power
According to Asante, the barges can be transported by sea to different locations without creating additional transport emissions, giving the company flexibility to deploy power where demand is highest. Once docked, the floating power plants can connect directly to the electricity grid through subsea cables.
The company says each unit could supply electricity for roughly 15,000 homes or be scaled to support the energy requirements of major ports. Bluecore plans to build its reactors using established water-cooled nuclear technology that has been in commercial use for decades while adapting it into rapidly deployable modular systems.
Funding supports testing and deployment.
The newly raised capital will help Bluecore continue developing and validating its technology. The startup has already secured a port terminal, a barge and a test reactor pressure vessel that will be used to simulate water flow and verify the performance of its cooling system through combined hardware and software testing.
Bluecore is also working with regulators to incorporate multiple layers of safety into its first commercial design. The company said its reactor will include protected uranium fuel, a reinforced steel pressure vessel, concrete shielding and additional steel containment to enhance operational safety and redundancy.
Meeting future energy demand
Asante believes floating nuclear plants could help meet the growing electricity demand created by AI data centres without placing additional pressure on local communities’ water and power supplies. By locating reactors offshore, operators could gain direct access to cooling water while generating dedicated electricity for energy-intensive facilities.
Alongside Slauson & Co., the funding round attracted support from Harlem Capital, Precursor Ventures, Ripple co-founder Chris Larsen, Kevin Hart’s HartBeat Ventures and several angel investors. Bluecore plans to use the investment to move its floating nuclear energy platform closer to commercial deployment.
