As the grid is pressured by electrification and AI data centers, tech companies and utilities are considering nuclear power as a solution. However, given the historical budget and scheduling issues with U.S. reactors, they are cautious.
Jake Jurewicz, CEO of Blue Energy, suggests looking back at the industry’s origins for solutions. Blue Energy proposes building nuclear reactors in shipyards, which are equipped to handle large steel volumes and facilitate easy transport once completed.
“The common nuclear technology, light water reactors, was initially designed for submarines,” Jurewicz told TechCrunch. “Prefabrication and shipyard use have always been part of this history.”
To begin its first 1.5-gigawatt plant in Texas, Blue Energy has secured $380 million in equity and debt financing, led by VXI Capital with other investors like At One Ventures, Engine Ventures, and Tamarack Global.
Rather than design a new reactor, Blue Energy seeks to innovate reactor and power plant construction processes, inspired by Venture Global’s approach to LNG export terminals, which significantly shortened project schedules.
By shifting construction to shipyards, Blue Energy aims for a controlled environment to facilitate automation and cost savings. “It minimizes on-site construction, shifting everything to manufacturing,” he said.
Reactors and parts will be transported by barge, allowing access to sites in the U.S., Europe, Africa, and Asia through waterways. “Most population and load growth occurs near waterways,” Jurewicz noted.
Blue Energy’s strategy is drawing interest from financiers. “We’ve engaged with several major infrastructure funds and banks, showing confidence in our project’s financeability,” he said.
Key to financing is reducing construction costs, which have risen for nuclear power. “The issue isn’t the technology, but reducing construction costs and schedules to a predictable level,” Jurewicz said.