The deal marks Constellation Technology Ventures' first investment in a U.S. nuclear developer advancing small modular reactors and backs Blue Energy's prefabricated deployment model.
Blue Energy said it received a strategic equity investment from Constellation Technology Ventures, the venture arm of Constellation (Nasdaq: CEG), in a deal aimed at supporting deployment of prefabricated nuclear power plants in the United States. The company said the investment is the first by Constellation Technology Ventures in a U.S. nuclear developer advancing small modular reactors (SMRs, compact reactors built for modular deployment). Blue Energy said its approach combines shipyard-style manufacturing, large-format robotic prefabrication and project financing to deploy proven reactor technology more predictably, quickly and cheaply. Constellation said the investment supports Blue Energy's plans around GE Vernova Hitachi's BWRX-300, which it described as a proven technology with a potential path to scale. The announcement follows Blue Energy's earlier disclosure that it raised $380 million and entered a strategic partnership with GE Vernova on a multi-gigawatt gas-to-nuclear project using GE Vernova gas turbines and BWRX-300 small modular reactors. The company also said it recently achieved a U.S. Nuclear Regulatory Commission (U.S. nuclear regulator) licensing milestone tied to its goal of delivering reliable power in 48 months or less through a phased gas-to-nuclear deployment strategy, with early site works on its first planned Texas project potentially starting in 2026 ahead of a final investment decision in 2027.