CORE Energy Systems Secures Rs. 200 Crore Funding to Power India’s Nuclear Future
Mumbai-based CORE Energy Systems Ltd., a key player in India’s nuclear engineering sector, raised Rs. 200 crore in one of the country’s largest investments for a nuclear-focused firm. The funding round attracted notable investors Pankaj Prasoon and Ashish Kacholia, alongside strategic partners aligned with India’s long-term energy and national goals. CORE will channel this capital to expand infrastructure, manufacturing, and R&D capabilities, boosting India’s nuclear power ambitions. With 25 reactors currently operational and eight more under construction, India targets 100 GW of nuclear capacity by 2047. Nuclear energy, offering stable and carbon-free baseload power, plays a critical role in supporting emerging technologies like AI-driven data centers and securing energy independence.
CORE Energy Systems: Fueling India’s Nuclear Ambitions
CORE Energy Systems plans to use the fresh capital to scale up infrastructure and research operations. The company focuses on high-precision engineering crucial for the nuclear and defense sectors. Amey Belorkar, Senior Vice President at ICMS, remarked, “CORE Energy Systems exemplifies the kind of deep tech, homegrown enterprise that MDAVF was designed to support. Their achievements in sensitive domains like nuclear and defence demonstrate the powerful impact of strategic capital.” The company aims to localize cutting-edge technologies through global partnerships, aligning with India’s Atmanirbhar Bharat initiative.
Landmark Project: Tarapur Nuclear Plant Refurbishment
CORE Energy Systems is nearing completion of a landmark project to refurbish India’s oldest nuclear plant at Tarapur, commissioned in 1969. This unique engineering feat aims to extend the plant’s operational life, a first in global nuclear history. The project positions India as a pioneer in nuclear life extension technologies, which could become a significant export opportunity. CORE’s Managing Director, Nagesh Basarkar, said, “The nuclear sector demands uncompromising focus on safety, quality, and precision. This investment gives muscle to our commitment to shaping India’s civil nuclear future.”
CORE Energy Powers India’s Strategic Growth Vision
- Aligned with India’s Viksit Bharat vision and Net Zero goals
- CORE will accelerate production of advanced defense subsystems
- Focus on precision engineering solutions for strategic sectors
- Aims to deliver high-reliability systems reinforcing energy security
- Supports India’s technological independence
- Vital contributor to government’s plan to expand nuclear capacity to 100 GW by 2047
- Powers sustainable and secure growth for the nation
(With Inputs)
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