Blue Energy Raises $380 Million Financing

Gunderson Dettmer represented Blue Energy in its $380 million financing led by VXI Capital with significant backing from Engine Ventures and participation from other existing investors, including At One Ventures and Tamarack Global.

Blue Energy is developing prefabricated, project financeable nuclear power plants designed to be compatible with leading reactor technologies and delivered on an accelerated timeline in as little as 48 months. The new funding will support the company’s project development activities, with construction on its first project in Texas expected to begin in Q3 2026. The project is designed to deliver up to 1.5 gigawatts (GW) of affordable, reliable power to large-scale electricity customers, including artificial intelligence (AI) datacenters.

“This funding marks an important step in Blue Energy's mission to make new nuclear more deployable, predictable, and financeable,” said Blue Energy CEO and Co-Founder Jake Jurewicz, in the announcement of the transaction. “Blue Energy is poised to deliver a significantly de-risked product and finally attract the private capital that nuclear deployment has historically struggled to secure. And for the first time, a nuclear project is designed so that it doesn't need to rely primarily on taxpayer dollars and ratepayers to backstop risk.”

The Gunderson deal team was led by David Gammell and included Timothy Kulis, Kelly Flanagan, Wesley Sheker, and Bennett Evans.