Blue Energy secures $45m funding for modular nuclear power plant
Blue Energy, a US-based company specialising in nuclear power plants, has completed a $45m Series A fundraising round co-led by Engine Ventures and At One Ventures.
The funding involved contributions from capital firms Angular Ventures, Tamarack Global, Propeller Ventures, Starlight Ventures and Nucleation Capital.
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The company plans to use the funding to advance its core engineering work and site development, and secure additional partnerships.
The company also introduced its modular, reactor-agnostic power plant architecture that can be manufactured in existing shipyards.
The company expects this method to transform the nuclear power industry by reducing capital costs from $10K per kilowatt (kW) to $2K/kW, and shortening build times from ten years to just two.
