Company is developing prefabricated nuclear power plants designed for faster, more predictable deployment
Financing was led by VXI Capital with significant backing from Engine Ventures and participation from other existing investors, including At One Ventures and Tamarack Global
Proceeds will support long-lead equipment procurement, project development and corporate growth
The Nuclear Regulatory Commission recently approved Blue Energy's innovative approach to nuclear plant construction
(Chevy Chase, MD) – Blue Energy, a developer of financeable, prefabricated nuclear power plants, today announced that it has raised $380 million in financing to advance its turnkey approach to nuclear plant development. The fundraise was led by VXI Capital with significant backing from Engine Ventures and participation from other existing investors, including At One Ventures and Tamarack Global. Proceeds will support procurement of long-lead equipment, project development activities, and general corporate purposes.
Blue Energy is developing prefabricated nuclear power plants designed to be compatible with leading reactor technologies and delivered on an accelerated timeline in as little as 48 months. The complexity of bespoke nuclear plant construction has historically contributed to delays, cost overruns, and financing uncertainty. This uncertainty and risk have sidelined private capital and created an overreliance on taxpayer dollars and consumer rate hikes. Blue Energy believes it can address those challenges through an innovative development model centered on reducing construction risk through centralized advanced manufacturing, skilled labor and more predictable schedules.
"This funding marks an important step in Blue Energy's mission to make new nuclear more deployable, predictable, and financeable," said Blue Energy CEO and Co-Founder Jake Jurewicz. "Blue Energy is poised to deliver a significantly de-risked product and finally attract the private capital that nuclear deployment has historically struggled to secure."
By unlocking project financing, Blue Energy plans to deliver on the promise of nuclear power by prefabricating modular plants offsite at existing fab yards from proven components with fixed-price contracting and reliable timelines – aiming to make nuclear power more predictable, faster and more affordable. Blue Energy could begin early site works on its first planned project in Texas in 2026, to support a final investment decision in 2027.
"VXI is proud to partner with Blue Energy as the company unlocks the largest underutilized resource civilization has: nuclear power," said Orin Hoffman, Managing Director of VXI Capital and Board Director at Blue Energy.
"The Blue Energy team has made remarkable progress de-risking the single hardest problem in nuclear — the cost structure that makes it project-financeable," said Michael Kearney, General Partner at Engine Ventures and Board Director at Blue Energy.
The U.S. Nuclear Regulatory Commission (NRC) recently approved Blue Energy's innovative approach to resequencing major phases of nuclear plant construction by initially energizing turbines with natural gas before conversion to nuclear power.
About Blue Energy: Founded in 2023, Blue Energy develops financeable, turnkey nuclear power plants compatible with leading reactor technology. Visit www.blueenergy.co or follow us on LinkedIn.
