The round was co-led by Engine Ventures and At One Ventures, with investment from Angular Ventures, Tamarack Global, Propeller Ventures, Starlight Ventures, and Nucleation Capital. Today Blue Energy also introduced its modular nuclear power plant that can be centrally manufactured in existing shipyards. Shipyard manufacturing reduces the cost and build time of deploying nuclear power safely, making nuclear power economically competitive with fossil fuels and renewables. The funding will be used to advance Blue Energy's core engineering work and site development, and secure additional partners.

Founded in 2023, Blue Energy builds modular nuclear power plants in shipyards, reducing construction time by 80%. The company's plant design is reactor agnostic and can quickly deploy affordable, zero-emissions baseload electricity at a price that is competitive with fossil fuels and renewables. Blue Energy stems from MIT's Nuclear Science & Engineering Department and is backed by The Engine Ventures and At One Ventures.