Energy Start-Up Raises $50 Million for Floating, Compact Nuclear Reactors

A start-up company based in Long Beach is pursuing a maritime approach to clean energy via nuclear power. On Sept. 8, Bluecore Energy, a nuclear technology company developing compact reactors aboard floating barges, raised $50 million in new funding as it moves from an ambitious concept toward building and testing its first system.

The large investment, led by Austin-based early-stage venture capital firm Silverton Partners, comes less than two months after Bluecore Energy emerged from stealth with $10 million in pre-seed funding. Other key investors for the company’s recent funding include, but are not limited to, Slauson & Co., Markham Valley Ventures, Hartbeat Ventures, and Harlem Capital.

The latest investment brings the company’s total disclosed funding to $60 million, giving the start-up fresh capital to further its efforts in engineering development, testing, manufacturing capabilities, and regulatory work.

Founded by entrepreneur Kofi Asante, who is also the company’s CEO, Bluecore Energy was first established in late 2025, before emerging from stealth in July 2026. Making its headquarters at the Port of Long Beach, the company was established with the goal of what Asante refers to as “democratizing access to clean energy.”

“For decades, nuclear energy has powered ships and submarines safely; what’s new is bringing that power to the shore, straight to the cities and ports that need it,” said Asante in an official video post from Bluecore Energy’s LinkedIn page. “We have a once in a generation opportunity to democratize access to zero emissions and maritime nuclear energy.”

At the center of that goal is the company’s initial project: the development of a compact, floating small modular nuclear reactor (SMR), designed to operate from a floating barge offshore – with each modular unit reportedly being capable of producing around 10 megawatts, enough electricity to power about 15,000 homes.

Currently, Bluecore Energy’s SMR project is still within its development and testing phase, with no official confirmation as to when the company will have an SMR fully operational for use. In addition, the start-up is also working to demonstrate that its technology meets necessary nuclear and maritime safety standards. But despite this, the company currently houses a non-nuclear prototype of an SMR Test Pressure Vessel at its facility in the Port of Long Beach.

“Building maritime nuclear energy requires rigorous engineering, testing and safety work from the beginning,” said Asante in an official press release. “We’re excited about the progress we’re making and committed to moving with urgency while doing this safely and responsibly.”

Beachcomber has reached out to Bluecore Energy for comments but was unable to receive a response at this time.