Floating nuclear startup Bluecore secured $50 million in funding to deploy atomic power generation on barges directly to sites with immediate energy demand.

California-based startup Bluecore Energy has secured $50 million in seed funding to develop floating nuclear power plants designed to supply ports and other high-demand locations with rapid energy growth. Led by Silverton Partners, the round includes $10 million in previously announced pre-seed capital and attracted several new investors. Bluecore will deploy the funds to engineer and test its compact nuclear power system while pursuing regulatory approval and maritime classification. The initial design utilizes light-water reactor technology to generate approximately 10 MWe of continuous electrical output. According to the company, the maritime system can operate for extended periods, requiring refueling only once every few years.

Bluecore has acquired its first barge and is currently constructing a non-fueled, electrically heated reactor module prototype at its Port of Long Beach headquarters. This prototype will be used to validate monitoring, sensor, and control systems. The company is targeting ports, AI datacenters, and coastal infrastructure, with plans to deploy reactors offshore and connect them to end users via subsea cables. Remote islands and coastal communities, such as those in Alaska, which often lack practical connections to broader electricity grids, are also key markets. Bluecore asserts that its approach can deliver reliable, zero-emission power to energy-intensive sites while unlocking new commercial opportunities for nuclear generation.

“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 Bluecore founder and CEO Kofi Asante. “Our focus now is simple: create and deliver zero-emission energy as safely and quickly as possible.” The funding announcement follows the recent launch of the International Atomic Energy Agency’s Atomic Technologies Licensed for Applications at Sea (ATLAS) initiative in Washington, D.C. U.S. Secretary of Energy Chris Wright tied the program to the Department of Energy’s broader push to rapidly expand atomic energy capacity to meet the demands of AI datacenters and other industrial sectors.

Bluecore has initiated discussions with the U.S. Nuclear Regulatory Commission (NRC) and the U.S. Coast Guard. The two agencies recently signed a memorandum of understanding to coordinate the oversight of civilian floating nuclear power plants. The NRC has stated it is prepared to license maritime reactors under existing federal regulations while simultaneously developing a specialized framework for microreactors and similarly low-risk designs. Despite this progress, Bluecore remains years away from commercial deployment. The company has yet to construct a fueled reactor or submit applications for operational approvals, and its Long Beach facility must also comply with California’s strict restrictions on new nuclear power projects.

While public skepticism toward waterborne nuclear facilities persists, the United States maintains a decades-long history of maritime nuclear propulsion. Every active U.S. Navy aircraft carrier is nuclear-powered, a capability first demonstrated aboard the submarine USS Nautilus in 1955. The USS Enterprise became the first nuclear-powered aircraft carrier in 1961, followed that same year by the commissioning of the USS Long Beach, the first nuclear-powered surface combatant. Bluecore’s leadership team draws on this legacy, featuring former U.S. Navy nuclear submarine officers alongside executives with experience at SpaceX, Northrop Grumman, Toyota, Rivian, and Uber.

Globally, Russia currently operates the world’s only floating nuclear power plant. The barge-mounted Akademik Lomonosov is significantly larger than Bluecore’s proposed system and can produce up to 70 MWe.