Blue Energy
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Blue Energy Secures $45M to Make Clean, Reliable Nuclear Power Commercially Viable
Blue Energy, a nuclear power plant company, emerged from stealth with a $45 million Series A fundraise co-led by Engine Ventures and At One Ventures, with investment from Angular Ventures, Tamarack Global, Propeller Ventures, Starlight Ventures, and Nucleation Capital. Blue Energy also introduced its modular nuclear power plant that can be centrally manufactured in existing shipyards. Shipyard manufacturing reduces the cost and build time of deploying nuclear power safely, making nuclear power economically competitive with fossil fuels and renewables. The funding will be used to advance Blue Energy’s core engineering work and site development, and secure additional partners.
The AI datacenter and manufacturing boom has emphasized the demand for reliable, clean electricity in the U.S. and the world. To decarbonize and grow electricity production while maintaining energy affordability and security, the global energy generation mix must include more nuclear power. However, new nuclear plant construction projects face multi-year delays and exorbitant costs. While there have been exciting advancements in nuclear reactor technology, reactors make up less than 10% of the cost of nuclear power plants; over 90% of the cost comes from construction and regulatory challenges in the rest of the plant. Blue Energy’s innovation is a modular, reactor-agnostic power plant architecture to house the next generation of nuclear reactors. Blue Energy’s power plants use centralized shipyard manufacturing to dramatically reduce the capital costs from $10K/kW to $2K/kW and shrink build times from 10 years to 2 years.