Borusan Ventures participated in a $50 million seed funding round for the U.S. company Bluecore Energy, which is developing small modular nuclear reactors on floating platforms to provide low-carbon power to ports, industrial facilities, and data centers. The technology’s first application is scheduled to be tested at the Port of Long Beach.
Borusan Ventures, the corporate venture capital arm of Borusan Group, participated in a $50 million seed funding round for the U.S. company Bluecore Energy. Silverton Partners led the round, with participation from Slauson & Co, Harlem Capital Partners, Precursor Ventures, LMNT Ventures, and institutional and angel investors.
Small Reactors on Floating Platforms
Bluecore Energy is working to place small modular nuclear reactors on floating platforms, such as barges, with the aim of producing continuous, low-emission electricity near ports, coastal industrial facilities, and data centers. The model is based on transporting power-generation systems by sea to areas that need additional capacity, rather than connecting them exclusively to fixed sites within the electricity grid.
The company plans for its first system to provide continuous capacity of approximately 10 megawatts, with the ability to operate for years without refueling, according to the announced plans. It also aims to increase capacity by adding new units as demand for electricity rises, particularly in areas whose grids are struggling to keep pace with the consumption of data centers and industrial facilities.
Port of Long Beach as the First Testing Ground
Bluecore selected the Port of Long Beach in the United States as the site of its first application. The company has begun transporting the first floating platform and test reactor to the area to carry out engineering work and testing. This comes at a time when electricity demand at the port is expected to rise as a result of the electrification of operations and cargo-handling equipment.
According to the available information, the port represents a testing environment for the technology under actual operating conditions and may also help the company assess scalability before moving to other applications. In the long term, Bluecore is also considering using the system to provide power to cargo ships.
Why Does This News Matter?
The project’s technological value is not limited to miniaturizing the reactor; rather, it lies in combining small reactors with maritime infrastructure to bring the generation source closer to large loads. This places data centers, ports, and industrial facilities among the groups that may follow the project, particularly as their electricity needs increase.
However, the source does not provide details about the commercial timeline, the final cost of electricity, nuclear and regulatory permits, or arrangements for fuel, waste, and safety management. Therefore, the project remains in the funding, development, and testing stage, and its readiness for broad commercial deployment has not yet been established.
Technical and Investment Basis
Bluecore Energy founder and CEO Kofi Asante said that the company is relying on water-cooled nuclear reactor technology that has been used for more than 70 years, adapting it to a smaller size and installing it on barges, while also targeting the serial production of small reactors. For her part, Defne Kocabıyık Narter, founder and head of Borusan Ventures, linked the investment to the growing need for reliable, low-carbon energy sources as artificial intelligence expands and industry transforms.