Bluecore Energy Acquires Uranium For Floating Nuclear Barges
Bluecore Energy, based in Long Beach, Calif., announced October 13 the procurement of low-enriched uranium (LEU), a vital step toward the company’s goal to provide nuclear energy from water instead of land.
Bluecore Energy is working toward constructing floating barges to deliver nuclear energy to the maritime industry and surrounding communities. The acquisition of the uranium (uranium hexafluoride, or UF6, enriched to 4.95 percent uranium-235), represents a critical step in Bluecore Energy’s development of a testable product, moving past design and non-fueled hardware progress. The uranium is currently being held outside of California in a U.S. nuclear fuel facility.
The company has rapidly moved through milestones since emerging from stealth three months ago. Just six weeks ago, Bluecore announced it had closed its $50 million seed funding round.
“We’ve moved quickly since launching Bluecore Energy, but speed only matters if it is paired with rigor,” said Kofi Asante, founder and CEO of Bluecore Energy. “We are putting the pieces in place across fuel, testing, engineering, safety, regulation and maritime classification at the same time. That is what it takes to turn this technology into a real system and ultimately deliver reliable, zero-emission energy where it is needed most.”
WMC, an intermediary company that supplies raw materials for advancements in global energy, worked closely with Bluecore Energy to supply the necessary uranium.
“As a leading intermediary in the global nuclear fuel market, WMC is excited by the emergence of marine nuclear and proud to bring our expertise to a new generation of reactor developers like Bluecore Energy,” said Per Jander, a director on WMC’s nuclear fuel team. “Establishing a reliable nuclear fuel supply is a fundamental part of moving any reactor program forward. Bluecore Energy is approaching that work with the seriousness and long-term thinking the nuclear industry requires, and we look forward to continuing to work together.”
Alongside the progress being made on the testing side, Bluecore Energy is working diligently with necessary groups to develop safety, regulatory and maritime classification pathways. Bluecore has been working with the U.S. Nuclear Regulatory Commission as well as the U.S. Coast Guard and began the pre-application process in August.
“Fuel is obviously fundamental to building a nuclear energy system, but what matters just as much is the environment and process around how you test it,” said Megan Moyette, licensing and safety lead and a 13-year U.S. Navy nuclear submarine officer. “Having access to the expertise and infrastructure at the largest commercial nuclear fuel facility in the U.S. allows us to approach this next phase with the rigor it requires. Our goal is not simply to move fast. It is to create and deliver zero-emission energy as safely and quickly as possible.”
According to the press release published by Bluecore Energy on October 13, the company received an Approval in Principle (AIP) from the American Bureau of Shipping (ABS) for its design in June, the first ABS AIP to be awarded to a U.S.-designed floating nuclear power plant. The AIP assessment evaluated the concept against the intent of applicable ABS rules and guides and established an Approval Road Map outlining the technical requirements and considerations to be addressed as the design progresses through subsequent stages of development.
On September 15, Bluecore Energy celebrated the inaugural Bluecore Energy Summit. Hosted at its headquarters at the Port of Long Beach, Bluecore Energy welcomed more than 100 community members and professionals across government, maritime, nuclear energy, infrastructure, investment and technology. Asante was in attendance as well as Port of Long Beach CEO Dr. Noel Hacegaba, as well as Slauson & Company managing partners Ajay Relan and Austin Clements, who discussed the opportunities the maritime industry provides for the future of nuclear energy and the demand for clean energy today.
