Bluecore Energy has purchased enriched uranium from nuclear fuel intermediary WMC, strengthening its development pathway for compact floating nuclear power systems. The Long Beach, California-based company announced the acquisition after closing a US$50 million Seed round and raising US$60 million in total funding, including a US$10 million Pre-Seed round. The uranium is being held at a US nuclear fuel facility outside California while Bluecore prepares for fuel fabrication, testing, and validation.
Uranium Purchase and Fuel Pathway
The newly acquired material is uranium hexafluoride enriched to 4.95% uranium-235, the chemical form required during the enrichment stage of the nuclear fuel cycle. Before it can be used in conventional nuclear fuel, the uranium hexafluoride must be converted into uranium dioxide and then fabricated into fuel pellets and assemblies. WMC, which operates across uranium, conversion, and enrichment products, described the purchase as a fundamental step for new reactor developers.
Regulatory and Classification Progress
Bluecore began pre-application engagement with the US Nuclear Regulatory Commission in August, presenting a conceptual overview of its design and discussing its regulatory approach. The US Coast Guard also participated in the meetings as part of a recently established coordination framework for civilian maritime nuclear projects. In June, the American Bureau of Shipping granted an Approval in Principle for the floating nuclear power plant design, the first such approval for a US-designed floating nuclear plant.
Design and Market Focus
Bluecore is designing compact, water-cooled reactors for deployment on floating platforms that can be positioned near ports or offshore and connected to customers through subsea cables. This approach is intended to serve ports, AI data centers, and coastal infrastructure that require large and reliable electricity supplies without using valuable land. The maritime environment is fundamental to the design rather than an adaptation of land-based nuclear systems.
Development Status and Safety
The company is developing its first system and conducting research on a non-fueled reactor module prototype at its Port of Long Beach headquarters. Bluecore does not operate an active nuclear reactor or store nuclear fuel at that location. The purchased uranium remains at the external US fuel facility while the company advances plans for future fueled testing and validation.
Leadership and Industry Engagement
Bluecore hosted its inaugural Energy Summit at the Port of Long Beach on September 15, bringing together more than 100 leaders from government, maritime, nuclear energy, infrastructure, investment, and technology. Founder and CEO Kofi Asante, Long Beach Mayor Rex Richardson, and Port of Long Beach CEO Dr. Noel Hacegaba discussed rising electricity demand and the role of maritime nuclear energy. Attendees toured the company headquarters, development facility, and maritime platform.
Path to Deployment
Commercial deployment will depend on further engineering, fuel qualification, testing, and approvals from nuclear, maritime, and environmental authorities. Bluecore has not announced a commercial operating date for its first system. The company is integrating engineering, nuclear safety, regulatory engagement, and classification requirements to support the development of its first maritime nuclear energy system.
By securing enriched uranium, advancing federal regulatory discussions, and obtaining maritime classification approval, Bluecore is building a foundation for future deployment. The company's work illustrates how floating nuclear systems could provide flexible, zero-emission power for ports and other energy-intensive infrastructure. While significant technical and regulatory milestones remain, the progress signals growing momentum in the emerging maritime nuclear energy sector.