US utility major Constellation Energy has made a strategic investment in small modular reactor (SMR) developer Blue Energy through its venture capital arm as the startup company aims to accelerate the rollout of nuclear plants fabricated largely in shipyards.

The investment is the first by Constellation, the largest operator of nuclear energy in the US, in an SMR developer and was made through its Constellation Technology Ventures investment arm. No value for the investment was announced.

Blue Energy was established in 2023 and aims to build the bulk of its SMRs at shipyards and then send them by barge to their final locations to save on costs and time to deployment.