In 2026, Kofi Asante-led Bluecore Energy raised $50 million to put small nuclear reactors on floating barges
A nuclear power plant that floats on water and sends electricity to shore may sound unusual, but one startup wants to make it a reality. Bluecore Energy, led by founder and CEO Kofi Asante, has raised $50 million to develop small nuclear reactors ...
By Piyush Shukla, Global Desk |
A California startup wants to change where nuclear power plants are built. Instead of constructing them on land, Bluecore Energy plans to place compact reactors on floating barges and deliver electricity to customers along the coast. The company has raised $50 million to develop the technology, with AI data centers, ports and remote communities among its potential customers.
The idea addresses a growing problem for energy-intensive businesses, that is, finding reliable electricity supplies without waiting years for new power infrastructure. But Bluecore still has considerable engineering and regulatory work ahead before its proposed floating power plants can generate electricity commercially.
The company announced the funding round on September 8, 2026. Led by Silverton Partners, the round includes $10 million in previously announced pre-seed funding. Bluecore intends to use the capital to develop its reactor system, test its equipment and pursue the approvals required to operate a civilian nuclear power plant at sea.
Bluecore has not yet built a fueled reactor or received permission to operate one.
AI data centers are a potential customer. These facilities need substantial amounts of electricity to run servers and associated cooling equipment. Ports and coastal industrial sites also require dependable power, while some remote communities face difficulties connecting to larger electricity grids.
Building a new power plant on land can involve finding a suitable site, securing permits and arranging grid connections. A floating system could offer an alternative by placing the generating equipment offshore and connecting it to customers through subsea cables.
If those goals can be achieved, the design could give customers access to a steady source of electricity without burning fossil fuels during generation. It could also make nuclear power an option for certain locations where conventional power infrastructure is difficult to develop.
However, the proposed advantages have yet to be demonstrated in a commercial operating system. The economics will depend on construction and maintenance costs, regulatory requirements, cable installation and the price customers are willing to pay.
Bluecore is not starting with an operating nuclear reactor. Its current prototype uses electrical heating rather than nuclear fuel. The purpose is to test monitoring equipment, sensors and control systems before progressing toward a fueled reactor.
The funding gives Bluecore money to advance its engineering work and begin addressing the requirements of operating a nuclear facility in a maritime environment.
The company has started discussions with the US Nuclear Regulatory Commission (NRC) and the US Coast Guard. Both agencies have roles in overseeing civilian floating nuclear power plants, although their responsibilities differ.
The NRC has indicated that maritime reactors can be licensed under existing federal regulations while the agency develops additional provisions for microreactors and similar designs. That offers a potential path forward, but it is not an approval of Bluecore's particular technology.
The company must demonstrate that its proposed system meets the applicable safety and operating requirements. A reactor on a barge also raises practical questions about security, maintenance, emergency response and environmental protection. Those issues must be addressed alongside the engineering challenges of operating a compact nuclear system offshore.
Bluecore faces another complication in California, where restrictions on new nuclear power plants could affect its plans in Long Beach.
The company says its team includes former US Navy nuclear submarine officers and people with experience at organizations such as SpaceX, Northrop Grumman, Toyota, Rivian and Uber. That experience may help it develop the technology, but the next milestones will depend on engineering results and regulatory decisions rather than the team's credentials alone.
Bluecore's commercial ambitions remain years away from deployment. It has yet to build a fueled reactor or submit the applications required to operate one.
The US Navy also has decades of experience with nuclear reactors at sea. Its nuclear-powered submarine USS Nautilus first went to sea in 1955, followed by nuclear-powered surface vessels in later years.
These examples demonstrate that nuclear technology can operate in maritime environments. They do not, however, establish that Bluecore's smaller commercial design will be economical or straightforward to license.
The company's business model also differs from naval nuclear power. Bluecore wants to supply electricity to civilian customers, including ports, data centers and remote coastal communities. To succeed, it must show that a floating plant can deliver power reliably at a competitive cost.
Subsea cables, the cost of constructing and maintaining the barge, reactor safety systems and the regulatory process will all influence whether customers find the proposition attractive.
The company will also need to establish how its system can be refueled and maintained while meeting the relevant safety requirements.
The idea addresses a growing problem for energy-intensive businesses, that is, finding reliable electricity supplies without waiting years for new power infrastructure. But Bluecore still has considerable engineering and regulatory work ahead before its proposed floating power plants can generate electricity commercially.
The company announced the funding round on September 8, 2026. Led by Silverton Partners, the round includes $10 million in previously announced pre-seed funding. Bluecore intends to use the capital to develop its reactor system, test its equipment and pursue the approvals required to operate a civilian nuclear power plant at sea.
Founded by CEO Kofi Asante, the startup has already secured its first barge. It is now developing a prototype at its headquarters in the Port of Long Beach, California.
Bluecore has not yet built a fueled reactor or received permission to operate one.
Why Bluecore wants to put nuclear reactors on floating barges
The appeal of a floating nuclear power plant starts with the difficulty of supplying electricity to places where demand is growing faster than infrastructure can keep up.ADVERTISEMENT
AI data centers are a potential customer. These facilities need substantial amounts of electricity to run servers and associated cooling equipment. Ports and coastal industrial sites also require dependable power, while some remote communities face difficulties connecting to larger electricity grids.
Building a new power plant on land can involve finding a suitable site, securing permits and arranging grid connections. A floating system could offer an alternative by placing the generating equipment offshore and connecting it to customers through subsea cables.
Bluecore's initial design aims to produce around 10 megawatts of electrical power using light-water reactor technology. The company says its system is intended to run continuously for years, with refueling required only once every few years.
If those goals can be achieved, the design could give customers access to a steady source of electricity without burning fossil fuels during generation. It could also make nuclear power an option for certain locations where conventional power infrastructure is difficult to develop.
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However, the proposed advantages have yet to be demonstrated in a commercial operating system. The economics will depend on construction and maintenance costs, regulatory requirements, cable installation and the price customers are willing to pay.
Bluecore is not starting with an operating nuclear reactor. Its current prototype uses electrical heating rather than nuclear fuel. The purpose is to test monitoring equipment, sensors and control systems before progressing toward a fueled reactor.
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The funding gives Bluecore money to advance its engineering work and begin addressing the requirements of operating a nuclear facility in a maritime environment.
The company has started discussions with the US Nuclear Regulatory Commission (NRC) and the US Coast Guard. Both agencies have roles in overseeing civilian floating nuclear power plants, although their responsibilities differ.
The NRC has indicated that maritime reactors can be licensed under existing federal regulations while the agency develops additional provisions for microreactors and similar designs. That offers a potential path forward, but it is not an approval of Bluecore's particular technology.
The company must demonstrate that its proposed system meets the applicable safety and operating requirements. A reactor on a barge also raises practical questions about security, maintenance, emergency response and environmental protection. Those issues must be addressed alongside the engineering challenges of operating a compact nuclear system offshore.
Bluecore faces another complication in California, where restrictions on new nuclear power plants could affect its plans in Long Beach.
The company says its team includes former US Navy nuclear submarine officers and people with experience at organizations such as SpaceX, Northrop Grumman, Toyota, Rivian and Uber. That experience may help it develop the technology, but the next milestones will depend on engineering results and regulatory decisions rather than the team's credentials alone.
Bluecore's commercial ambitions remain years away from deployment. It has yet to build a fueled reactor or submit the applications required to operate one.
Russia already operates a floating nuclear plant. Can Bluecore follow?
Floating nuclear power is not an entirely new concept. Russia operates the Akademik Lomonosov, a floating nuclear power plant capable of generating up to 70 megawatts of electricity. That is considerably more than Bluecore's proposed initial output of 10 megawatts.The US Navy also has decades of experience with nuclear reactors at sea. Its nuclear-powered submarine USS Nautilus first went to sea in 1955, followed by nuclear-powered surface vessels in later years.
These examples demonstrate that nuclear technology can operate in maritime environments. They do not, however, establish that Bluecore's smaller commercial design will be economical or straightforward to license.
The company's business model also differs from naval nuclear power. Bluecore wants to supply electricity to civilian customers, including ports, data centers and remote coastal communities. To succeed, it must show that a floating plant can deliver power reliably at a competitive cost.
Subsea cables, the cost of constructing and maintaining the barge, reactor safety systems and the regulatory process will all influence whether customers find the proposition attractive.
The company will also need to establish how its system can be refueled and maintained while meeting the relevant safety requirements.
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