Core Energy Systems, a Mumbai-based engineering firm has successfully raised INR 2bn ($22.8m) in a fresh funding round to expand infrastructure, manufacturing, and Research Computing & Data (RCD) capabilities. The funding will strengthen its capacity to deliver large-scale nuclear projects in alignment with India’s nuclear energy roadmap.
This capital infusion, one of the largest for a nuclear-focused company in India, underscores renewed investor confidence in the sector’s growth potential. 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.
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 investment will accelerate Core’s expertise in precision nuclear engineering and the high-tech manufacturing of critical equipment and components, the company said. “Notably, it will also reinforce efforts supporting India’s Small Modular Reactor (SMR) and Bharat Modular Reactor (BMR) programmes – key pillars of the Atmanirbhar Bharat initiative, aimed at advancing nuclear self-reliance and ensuring sustainable energy security.”
India currently operates 25 nuclear reactors generating 8.88 GWe with eight more under construction. The government has set a target of achieving 100 GWe of nuclear power capacity by 2047.
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 offers 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.
Core Energy Systems, founded over two decades ago, is an Indian EPC and advanced manufacturing firm, delivering mission-critical solutions across nuclear, defence, aerospace, oil & gas, and clean energy. Core provides services required to design, engineer, construct, erect and commission various projects.
