Blue Energy raises $380 million for shipyard-built 1.5-gigawatt Texas plant
Business
Blue Energy, a startup, just scored $380 million to build nuclear reactors, not in the usual factories, but in shipyards.
The cash will help launch a 1.5-gigawatt plant in Texas that's aiming to begin construction later this year.
Big investors like VXI Capital and At One Ventures are backing the project.
CEO Jake Jurewicz cites LNG inspiration
Instead of inventing new reactor designs, Blue Energy is focusing on how they're built, using shipyards for faster assembly and lower costs.
CEO Jake Jurewicz says this approach borrows ideas from liquefied natural gas projects to speed things up.
Once built, these reactors can be shipped out by barge to installation sites reachable via waterways, which has caught investors' attention as a smart way to tackle rising nuclear costs.