CORE Energy Systems Secures Mega Funding for Nuclear Advancements

CORE Energy Systems Ltd., a prominent engineering firm based in Mumbai, has recently secured a significant Rs. 200 crore in funding, marking one of the largest investments ever for a nuclear-focused company in India. This funding round was spearheaded by notable investors Pankaj Prasoon and Ashish Kacholia, along with a consortium of strategic supporters who share India's national aspirations.

The newly acquired capital will be directed towards expanding the company's infrastructure, manufacturing capacity, and research and development capabilities. As India aims to increase its nuclear power capacity from the current 8.88 GW to an ambitious 100 GW by 2047, nuclear energy is regarded as an essential component that can offer stable, carbon-free power, crucial for AI-driven data centers and energy security.

Amey Belorkar, Senior Vice President at ICMS, emphasized CORE Energy's pioneering efforts in domains such as nuclear and defense, reflecting the impact of strategic investments. The company is near completion of refurbishing India's oldest nuclear facility at Tarapur, striving to extend its operational life, and positioning itself as a leader in nuclear life extension technologies. Managing Director Nagesh Basarkar reaffirmed the commitment to India's nuclear future, aligning with the Atmanirbhar Bharat mission.

(With inputs from agencies.)