It’s notoriously hard to finance and build new nuclear power plants at the speed we need them. Blue Energy believes it has the answer to quickly construct nuclear power plants to keep up with the growing demand for power.

Constellation Technology Ventures recently invested in Blue Energy. Constellation operates the largest fleet of clean energy and nuclear plants in the U.S., and this marks their first time putting money into a U.S. developer working on small modular reactors.

A New Way to Build

nuclear power plant
Representational image of a nuclear power plant; Photo: BearFotos/Shutterstock

Blue Energy plans to build prefabricated nuclear power plants using shipyard manufacturing. They rely on large-format robotic prefabrication and assembly, a method borrowed from offshore oil, gas, and LNG projects. By building this way, they hope to make nuclear development faster and more affordable.

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“Constellation is committed to exploring innovative pathways that can help accelerate the deployment of advanced nuclear technologies in the United States and allocate risk appropriately,” David Dardis, Constellation Senior Executive Vice President and Chief External Affairs and Growth Officer, explained. “The Constellation Technology Ventures investment in Blue Energy supports its deployment plans for the GE Vernova Hitachi’s BWRX-300, a proven technology with a potential path to scale for the next generation of nuclear energy.”

The Fast Track to Power

Blue Energy has already raised $380 million and teamed up with GE Vernova to develop a multi-gigawatt gas-to-nuclear project. They also recently hit a key licensing milestone with the U.S. Nuclear Regulatory Commission.

Their goal is to deliver reliable power in 48 months or less. Early site work for their first planned project in Texas could start in 2026, leading to a final investment decision in 2027.

“With demand for near-term power rising, Constellation’s investment will help Blue Energy meet America’s need by making new nuclear development predictable, rapidly scalable, and project financeable for the first time in history,” Jake Jurewicz, Blue Energy CEO and Co-Founder, said. “This relationship helps us leverage an established operator, proven technology, and innovative, project-financeable deployment models to expand access to nuclear energy.”