Constellation Ventures buys stake in Blue Energy to back BWRX-300

Constellation Technology Ventures has taken its first equity stake in Blue Energy to accelerate deployment of the BWRX-300 small modular reactor and to support prefabricated nuclear plant development across U.S. markets.

The funding is intended to support Blue Energy’s commercialization of the GE Vernova BWRX-300 and to make projects more predictable, faster to build and easier to finance. Constellation operates the largest nuclear reactor fleet in the United States.

Blue Energy has worked with GE Vernova on a gas-to-nuclear deployment model. Under that approach, gas turbines are installed to provide on-site power while SMRs are manufactured and assembled offsite. Once reactors are operational, the turbines are removed and the site shifts to nuclear generation.

Earlier this year Blue Energy raised $380 million and entered a strategic alliance with GE Vernova to pursue multi-gigawatt gas-to-nuclear projects. The earlier funding was designated for factory fabrication and development of multiple sites, with the goal of shortening on-site construction time and improving project financing options.

The investment links companies across the nuclear supply chain that are available to investors. Both Constellation Energy and GE Vernova are holdings in the Range Nuclear Renaissance ETF (ticker: NUKZ). As of July 20, GE Vernova made up about 4.3% of NUKZ’s assets. VettaFi LLC provides the index tracked by NUKZ and receives an index licensing fee; the ETF is managed separately.

Constellation Technology Ventures described the transaction as part of its plan to support advanced nuclear infrastructure in U.S. markets. Blue Energy and GE Vernova continue design and deployment work on the BWRX-300 as they move from pilot projects toward larger, multi-reactor installations.