Bluecore Energy, a startup founded earlier this year by Kofi Asante, has announced a $50 million seed funding round that was oversubscribed, meaning more money was offered than the company initially sought. This follows a $10 million pre-seed round and the company’s exit from stealth mode in July. Bluecore is developing small modular nuclear reactors (SMRs), which are compact nuclear power units designed to be more flexible and scalable than traditional reactors. These reactors are built on floating barges to provide clean energy to ports and nearby infrastructure, enabling energy to be delivered where it is most needed. Asante had not originally planned to raise capital this year, but after the success of the pre-seed round, he received significant interest from investors. Many of the original investors, including Slauson & Co., Harlem Capital, and Ripple co-founder Chris Larsen, participated again in the new round. Additional investment came from Collab Capital, Kevin Hart’s Hartbeat Ventures, and angel investors from major tech companies like Tesla, Uber, Amazon, and Google. Silverton Partners led the seed round, which took eight weeks to finalize. Asante mentioned that he had to revise the company’s ownership structure to account for the larger-than-expected amount of capital. Bluecore Energy became the first nuclear company based at a major port when it emerged from stealth mode in July, selecting the Port of Long Beach as its headquarters. Since then, the company has launched two floating barges and formed partnerships with key regulatory and government agencies, including the U.S. Department of Transportation Maritime Division, the U.S. Nuclear Regulatory Commission (NRC), and the U.S. Coast Guard. The company is currently undergoing product design reviews with the NRC and Coast Guard, which, if successful, will lead to the certification of its floating nuclear power plant. Asante said formal engagement with these agencies began in August. The newly raised capital will be used for product development, regulatory compliance, purchasing nuclear fuel, and hiring new staff. Asante anticipates that the biggest challenge will be managing the supply chain to secure the necessary hardware for building portable electricity infrastructure at a pace that matches consumer demand. The company has already received interest from various ports, AI data centers, and communities in need of clean energy and water. Asante noted that his team has experience from companies like SpaceX, Rivian, and Toyota, and they are using similar strategies to secure critical components. Bluecore Energy has already acquired barges and a reactor and is preparing to order nuclear fuel for a partner at a national nuclear lab. Asante emphasized that the company's mission is to democratize access to clean energy and water, stating that access to these resources should be a basic human right.