Bluecore Energy has purchased enriched uranium from nuclear fuel intermediary WMC, advancing development of its floating nuclear power system after raising $50 million in seed financing last month.
The Long Beach, California-based startup said Tuesday it had acquired uranium hexafluoride enriched to 4.95% uranium-235. The material is being held at a US nuclear fuel facility outside California as the company prepares for fuel fabrication, testing and validation.
The purchase adds a critical component to Bluecore’s development program as it seeks to bring compact, water-cooled nuclear reactors to maritime platforms. The company emerged from stealth earlier this year and has raised $60 million in total funding, including a $10 million pre-seed round, according to TechMoran’s report on its September financing.
Bluecore is developing floating nuclear power plants intended to supply electricity to ports and other energy-intensive infrastructure without requiring conventional land-based nuclear facilities. Its initial commercial focus is the maritime sector, although the company has also identified data centers and coastal infrastructure as potential customers.
The newly acquired material is uranium hexafluoride, a chemical form used during uranium enrichment. Before it can be used in conventional nuclear fuel, it must be converted into uranium dioxide and fabricated into fuel pellets and assemblies.
The purchase does not mean Bluecore has begun operating a fueled reactor. The company is still developing its first system and conducting research on a non-fueled reactor module prototype at its Port of Long Beach facility.
Bluecore has been pursuing regulatory discussions alongside its engineering work. In August, it began pre-application engagement with the US Nuclear Regulatory Commission, presenting a conceptual overview of its design and discussing its proposed regulatory approach. The US Coast Guard also participated in the discussions as the agencies coordinate on civilian maritime nuclear projects.
In June, Bluecore received an Approval in Principle from the American Bureau of Shipping for its floating nuclear power plant design. The assessment established a roadmap of technical requirements for subsequent development stages, rather than authorization for commercial operation.
The company is designing its reactors for deployment on floating platforms that could be positioned near ports or offshore and connected to customers through subsea cables. The approach is intended to provide flexibility in locating power generation near demand, including facilities requiring large and reliable electricity supplies.
Bluecore held its inaugural company summit at the Port of Long Beach on Sept. 15, bringing together local government, port officials, investors and industry representatives to discuss maritime nuclear energy and rising electricity demand.
Commercial deployment will depend on further engineering, fuel qualification, testing and approvals from the relevant nuclear, maritime and environmental authorities. Bluecore has not announced a commercial operating date for its first system.