• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The $40 trillion national debt is growing while Social Security goes broke—because wealthy Boomers are collecting over $100k in benefits per year

2

'I'm in favor of taxes,' says Nvidia's Jensen Huang—but he doesn't agree with Bill Gates on his plan to slow an AI fallout

3

Current price of oil as of August 28, 2026

1

The $40 trillion national debt is growing while Social Security goes broke—because wealthy Boomers are collecting over $100k in benefits per year

2

'I'm in favor of taxes,' says Nvidia's Jensen Huang—but he doesn't agree with Bill Gates on his plan to slow an AI fallout

3

Current price of oil as of August 28, 2026
EnergyNuclear Energy

Offshore nuclear barges could power ports and data centers—starting with California, where nuclear is banned

Jordan Blum
By
Jordan Blum
Jordan Blum
Editor, Energy
Down Arrow Button Icon
Jordan Blum
By
Jordan Blum
Jordan Blum
Editor, Energy
Down Arrow Button Icon
August 29, 2026, 3:12 AM ET
The floating nuclear power plant, Akademik Lomonosov, is towed to Atomflot moorage of the Russian northern port city of Murmansk on May 19, 2018. The barge is the world's only nuclear floating power unit.
The floating nuclear power plant, Akademik Lomonosov, is towed to Atomflot moorage of the Russian northern port city of Murmansk on May 19, 2018. The barge is the world's only nuclear floating power unit. ALEXANDER NEMENOV/AFP via Getty Images
Add Fortune on Google for similar content.

As the U.S. paves the way for a nuclear renaissance to power the AI data center boom, the next frontier is building small nuclear reactors offshore to power coastal facilities and merchant ships.

Strangely, the momentum could begin in California, a state that banned building new nuclear plants 50 years ago. This summer, the Port of Long Beach signed an agreement with the Trump administration to develop next-generation small modular reactors (SMRs) that could power ports, data centers, and vessels with emission-free energy.

Offshore nuclear power sounds unusual, but naval submarines and aircraft carriers have run on small nuclear reactors for decades. In 2020, Russia put the world’s first floating nuclear power station on a barge into service, powering the remote Arctic town of Pevek—population 4,000—and its harbor.

Recommended Video

Long Beach and Los Angeles are a different scale entirely. The two ports adjoin one another and together form the largest container port complex in the Western Hemisphere. The Port of Long Beach is now working with local startup Bluecore Energy to build SMRs on floating barges—though the project remains at least a few years from reality.

“I think it’s very viable. It’s just a question of when, not if,” said Max Hopkins, a nuclear power analyst at CITIC CLSA, speaking about the growth of offshore nuclear power broadly—not California specifically—across military, maritime shipping, and AI data center applications.

“To put something into place fast, with production means, and then you can just float it somewhere—it seems like offshore barges are going to be almost ideal,” Hopkins told Fortune. “I think it’s going to become pretty accepted, much more so than people realize.”

Still, Hopkins emphasized the technology is years from commercial deployment. Regulatory frameworks need to be built, and so do the supply chains and manufacturing systems.

The progress isn’t confined to Long Beach. Denmark-based Saltfoss Energy is developing similar nuclear reactor barges in Europe.

Nuclear’s maritime moment

The future of powering military warfare and maritime merchant shipping could be nuclear, Hopkins said. Maritime vessels account for about 3% of global greenhouse gas (GHG) emissions, which may not sound like much, but it’s roughly equivalent to the total GHG emissions of all of Africa.

The federal push is accelerating on multiple fronts. This week, the U.S. Department of Transportation’s Maritime Administration (MARAD) announced a partnership with London-based Core Power to develop the regulatory frameworks and technology for a future fleet of nuclear-powered merchant cargo vessels.

A day later, the U.S. and the International Atomic Energy Agency (IAEA) launched the Atomic Technologies Licensed for Applications at Sea (ATLAS) initiative. The effort is designed to advance SMR and micro-reactor technologies for merchant shipping—“underpinned by the highest levels of nuclear safety, security, and non-proliferation,” the IAEA said.

The appeal is speed and endurance: nuclear-powered ships only need to refuel every two or three years instead of every voyage, cutting fossil fuel use, and enabling faster transit. “At the same time, innovations such as floating nuclear power plants provide versatile energy sources that could deliver reliable electricity to coastal or remote communities and industry,” the IAEA said in a statement.

A nuclear California?

Long Beach-based Bluecore was founded only in January. It raised $10 million in a pre-seed round and quickly became the first nuclear company to partner with MARAD on offshore reactors.

Founder and CEO Kofi Asante, 31, is a Ghanaian-American from Austin, Texas, who quickly became a Silicon Valley veteran before relocating to Southern California. He built his logistics and maritime-shipping expertise at Uber Freight, heavy-cargo drone company Elroy Air, and electric barge startup Arc—before starting Bluecore.

His goal: use the maritime industry to provide clean, consistent power for ports and AI data centers.

“The philosophy was really process of elimination: if you need that much energy, then you arrive at a nuclear reactor,” Asante told Fortune. “And if you need real estate, two-thirds of the world is water, so you can use barges for extra real estate.”

“We can go miles away and connect via subsea cable—so we don’t have to be near neighborhoods, and we don’t have to be co-located at the port,” he added.

All of this requires technology that’s already largely developed, Asante argued, including smaller versions of traditional light-water nuclear reactors. Each 10-megawatt reactor on a barge can power the equivalent of about 10,000 homes, can be moved via tugboats, and can be stacked alongside each other for extra power generation.

Asante recognizes he’s pursuing this technology in a state that banned the developed of new nuclear reactors in 1976, citing environmental and safety concerns, including still-unsolved issues with radioactive waste.

The Port of Long Beach knows this is a lengthy process. Port CEO Noel Hacegaba noted that state lawmakers are already debating legislation to study lifting the ban.

“Nuclear is having a moment at the Port of Long Beach, and we are engaged with the private sector, along with state and federal legislators on this issue,” Hacegaba said in an emailed statement to Fortune.

“This innovation is years away from becoming a reality due to the technological advancements and regulatory hurdles that still need to be cleared, and it cannot advance without state and federal approvals,” he added. “In the meantime, our new partners at Bluecore Energy are following state and federal laws as they provide the private-sector experience to research and develop SMR technology.”

Can it be safe—and affordable?

Two big questions loom over offshore nuclear: safety, and whether it can compete economically with natural gas and solar power.

Asante draws a manufacturing analogy—with some exaggeration—arguing that previous nuclear power plants were built bespoke, akin to constructing an entire factory to produce a single car.

“Small modular reactors like ours, you build multiple of them, so it starts to look like a factory,” he said. “Some of our team came from Rivian and Toyota, and we’re looking at it like a production facility.”

The analyst Hopkins backs up the point from a different angle: “A jet engine is actually much more complicated to build than a nuclear reactor from a materials science perspective.”

But what happens in the event of a tsunami or a major weather event? Hopkins said modern safety design wraps uranium fuel pellets in multiple layers of heavy-duty ceramics and graphite casing, and they’re rendered inert when separated.

Asante offers his own case: “Our floating nuclear power plants are mobile. In the event of severe weather, they can quickly be repositioned. They are also shielded so that they can withstand extreme weather and be underwater. And we have multiple control mechanisms that will automatically turn the reactor off if needed.”

Being on the water is an advantage, he argued. “Water is the cooling mechanism and safest place for our systems, and we have an unlimited amount of access.”

Fortune Daily breaks the traditional barrier between audience and newsroom. The show transforms Fortune’s trusted reporting into actionable, conversational, and entertaining insights for an emerging class of business leaders. Watch here.
About the Author
Jordan Blum
By Jordan BlumEditor, Energy

Jordan Blum is the Energy editor at Fortune, overseeing coverage of a growing global energy sector for oil and gas, transition businesses, renewables, and critical minerals.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Energy


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in Energy


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.