CORE Energy Systems, a Mumbai-based engineering firm has successfully raised Rs 200 crore in a fresh funding round to expand infrastructure, manufacturing, and RCD capabilities. The funding will strengthen its capacity to deliver large-scale nuclear projects in alignment with India’s nuclear energy roadmap.
The investment was led by Ace investors Pankaj Prasoon and Ashish Kacholia, along with a consortium of strategic investors aligned with India’s long-term national goals.
This capital infusion, one of the largest for a nuclear-focused company in India, underscores renewed investor confidence in the sector’s growth potential.
Aims for nuclear self-reliance goal
“This investment will accelerate CORE’s expertise in precision nuclear engineering and the high-tech manufacturing of critical equipment and components. Notably, it will also reinforce efforts supporting India’s Small Modular Reactor (SMR) and Bharat Modular Reactor (BMR) programs—key pillars of the Atmanirbhar Bharat initiative, aimed at advancing nuclear self-reliance and ensuring sustainable energy security,” the company said.
India currently operates 25 nuclear reactors generating 8.88 GW with eight more under construction. The government has set an ambitious target of achieving 100 GW of nuclear power capacity by 2047. As nuclear power provides stable, carbon-free baseload energy, it is increasingly seen as critical to meeting the demands of AI-driven data centres and energy security.
Nagesh Basarkar, Managing Director at CORE, 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.”
The company highlighted that the funding round marks a pivotal transition for CORE, after the exit of its early institutional investor IDBI Capital Markets C Securities Ltd. (ICMS) which supported the company through its Maharashtra Defence and Aerospace Venture Fund (MDAVF)— a SEBI-registered Category II AIF established by the Government of Maharashtra to promote indigenous innovation in defence and aerospace.
Core is reconstructing India’s oldest nuclear facility at Tarapur
CORE is on the verge of completing the refurbishment of India’s oldest nuclear facility at Tarapur, commissioned in 1969.
This first-of-its-kind engineering initiative aims to extend the plant’s operational life and establish India as a pioneer in nuclear life-extension technologies.
As one of the few Indian companies certified with ISO 19443— a stringent nuclear-specific quality and safety standard— CORE stands apart for its integrated capabilities across manufacturing, EPC (Engineering, Procurement & Construction), and O&M (Operations & Maintenance) in the nuclear industry, the company said.
The company noted that it is strategically positioned to undertake reactor refurbishments and advanced coolant systems, develop indigenous materials meeting global performance standards, and foster international collaborations to strengthen India’s nuclear supply chain.
Founded over two decades ago, CORE Energy Systems is anIndian EPC and advanced manufacturing firm, delivering mission-critical solutions across nuclear, defence, aerospace, oil and gas, and clean energy.