CORE Energy Secures ₹200 Crore for Nuclear Expansion

Mumbai-based CORE Energy Systems has secured ₹200 crore in fresh funding to strengthen India’s nuclear and defence manufacturing ecosystem.

The round was led by prominent investors Pankaj Prasoon and Ashish Kacholia, along with other strategic backers aligned with national self-reliance goals. The capital will be used to expand CORE’s infrastructure, manufacturing capacity, and R&D capabilities, with a strong emphasis on accelerating participation in the Small Modular Reactor (SMR) and Bharat Modular Reactor (BMR) programs—both critical to the Atmanirbhar Bharat mission.

Founded over 25 years ago, CORE has played a significant role in advancing India's nuclear energy ambitions, especially as the nation targets a tenfold increase in nuclear power capacity—from 8.88 GW to 100 GW by 2047. Nuclear energy is expected to power AI-enabled data centers and support India’s broader Net Zero commitments.

Among its key projects, CORE is currently involved in refurbishing India’s oldest nuclear power plant at Tarapur (commissioned in 1969). The company also holds ISO 19443 certification, an internationally recognised quality benchmark for the nuclear sector.

This funding round also facilitated the exit of early investor IDBI Capital Markets & Securities. Going forward, CORE plans to scale up production of defence subsystems and localize advanced technologies through global partnerships, reinforcing its role in India’s clean energy and national security infrastructure.

News by Rahul Yelligetti.