Constellation Technology Ventures, the venture capital arm of U.S. nuclear power company Constellation Energy, announced a strategic equity investment in modular nuclear power plant developer Blue Energy.
The investment marks the first for Constellation in a U.S. developer of small modular reactors (SMRs) and will support the deployment of advanced nuclear technology in the U.S., the companies said.
David Dardis, Constellation Senior Executive Vice President and Chief External Affairs and Growth Officer, said:
“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.”
Founded in 2023 by Jake Jurewicz and Matt Slotkin, Blue Energy develops financeable, turnkey nuclear power plants compatible with leading reactor technologies. The company aims to significantly reduce the time required to build modular nuclear power plants, enabling the rapid deployment of affordable, zero-emissions baseload electricity at costs competitive with fossil fuels and renewable energy.
According to Blue Energy, its platform is designed to address one of the nuclear industry’s biggest challenges: financing and deploying new nuclear generation at the pace required to meet rapidly growing electricity demand. The company combines proven reactor technology with a large-format robotic prefabrication and assembly approach inspired by offshore oil and gas and LNG projects, with the goal of reducing construction risk, unlocking project financing, and accelerating deployment timelines.
Blue Energy said that it recently achieved a key U.S. Nuclear Regulatory Commission licensing milestone supporting its goal of delivering reliable power in 48 months or less through its phased gas-to-nuclear deployment strategy. The company added that it plans to begin early site work on its first planned project in Texas as early as this year, ahead of a final investment decision expected in 2027.
Jake Jurewicz, Blue Energy CEO and Co-Founder, said:
“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. This relationship helps us leverage an established operator, proven technology, and innovative, project-financeable deployment models to expand access to nuclear energy.”
