Constellation invests in Blue Energy's small modular reactor plans

Constellation Technology Ventures, the venture arm of Constellation (Nasdaq: CEG), has made a strategic equity investment in Blue Energy, a nuclear power plant developer focused on prefabricated reactor deployment, according to a press release issued July 16, 2026.

The investment marks the first time Constellation Technology Ventures has backed a U.S. nuclear developer working on small modular reactors. The financial terms of the deal were not disclosed.

Blue Energy is developing a manufacturing model that uses large-format robotic prefabrication and assembly techniques drawn from offshore oil and gas and LNG construction. The company plans to deploy the GE Vernova Hitachi BWRX-300 reactor and aims to make new nuclear plants eligible for project financing, a structure not previously used in the U.S. nuclear sector.

"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," said David Dardis, Constellation Senior Executive Vice President and Chief External Affairs and Growth Officer.

Earlier in 2026, Blue Energy raised $380 million and announced a strategic partnership with GE Vernova to develop a multi-gigawatt gas-to-nuclear project using GE Vernova gas turbines and BWRX-300 reactors. The company also secured a U.S. Nuclear Regulatory Commission licensing milestone tied to its phased gas-to-nuclear deployment strategy, which targets power delivery in 48 months or less.

Blue Energy said it could begin early site work on its first planned project in Texas in 2026, with a final investment decision targeted for 2027.

Blue Energy was founded in 2023 and is backed by VXI Capital, Engine Ventures, At One Ventures, and Tamarack Global.

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