Exclusive: Bluecore Energy launches with $10M for nuclear on barges
Bluecore Energy's barge in the Port of Long Beach in California. Photo: Courtesy of Bluecore Energy
Bluecore Energy, a startup building small modular reactors on barges, launched out of stealth with a $10 million pre-seed round, founder and CEO Kofi Asante tells Axios Pro.
Why it matters: The once slow-moving nuclear sector is attracting new entrepreneurs and investors outside of the traditional energy world.
Zoom in: The round was led by Slauson & Co., an LA-based early-stage VC firm focused on underrepresented founders.
- Ripple co-founder Chris Larsen and Kevin Hart's HartBeat Ventures also participated.
- Asante — who previously held roles at cargo drone company Elroy Air, electric boat startup Arc, and Uber Freight — describes himself as the first Black founder of a nuclear company, and says Bluecore's cap table is majority Black-owned.
- Asante says Bluecore will use the financing to hire a team from the nuclear, rocket and maritime industries to validate its SMR designs and its port facility.
How it works: Bluecore, founded in January 2026, is headquartered at the Port of Long Beach in California and is building a test reactor on an 185-foot barge.
- The company is using light water reactor tech and plans to be able to ship an electricity-producing reactor "within the next few years."
The intrigue: Bluecore is targeting ports and data centers for its barge-based reactors. Ports have high electricity needs, and many are growing, but they also often have strong sustainability plans and clean energy goals.
The big picture: Soaring demand for electricity, combined with new federal nuclear programs, have kicked off a new era of nuclear startups.
- Upstarts like Valar Atomics are racing to build test reactors, and attaining sky-high valuations.
- A number of nuclear startups have gone public, some successfully, and some receiving cooler investor response.
- Nuclear stocks overall are down from previous highs, as investors have gotten more selective.
State of play: The sector is getting crowded with mostly pre-revenue companies like Aalo Atomics, Antares Nuclear, Oklo, Deep Fission, Last Energy, Radiant, Terrestrial Energy, NuScale, TerraPower, Newcleo, Kairos Power, Nano Nuclear Energy, Natura Resources, ARC Clean Technology, Blue Energy, and Holtec.
