Mumbai (India), 6 August 2025: CORE Energy Systems Ltd., a Mumbai-based engineering firm with over 25 years of experience in India’s nuclear sector, has successfully raised ₹200 crore in a fresh funding round.The investment was led by Ace investors Pankaj Prasoon and Ashish Kacholia, along with a consortium of strategic investors aligned with India’s long-termnational goals.
This capital infusion, one of the largest for a nuclear-focused company in India, underscores renewedinvestor confidence in the sector’s growth potential.
The funds will be utilised to expand CORE’sinfrastructure, manufacturing, and RCD capabilities, strengthening its capacity to deliver large-scale nuclear projects in alignment with India’s nuclear energyroadmap. This investment will accelerate CORE’s expertise in precision nuclear engineering and the high-tech manufacturing of critical equipment andcomponents. Notably, it will also reinforce effortssupporting India’s Small Modular Reactor (SMR) andBharat Modular Reactor (BMR) programs—key pillars of the Atmanirbhar Bharat initiative, aimed at advancing nuclear self-reliance and ensuring sustainable energysecurity.
India currently operates 25 nuclear reactors generating8.88 GW with eight more under construction. The Government has set an ambitious target of achieving 100 GW of nuclear power capacity by 2047, central tothe Viksit Bharat vision and the country’s Net Zeroemissions goal. As nuclear power provides stable,carbon-free baseload energy, it is increasingly seen ascritical to meeting the demands of AI-driven datacentres and energy security.
This funding round also marks a pivotal transition for CORE, as early institutional investor IDBI Capital Markets C Securities Ltd. (ICMS) exits after supportingthe company through its Maharashtra Defence and Aerospace Venture Fund (MDAVF)— a SEBI-registered Category II AIF established by the Government ofMaharashtra to promote indigenous innovation indefence and aerospace.
Mr. Amey Belorkar, Senior Vice President at ICMS, said, “CORE Energy Systems exemplifies the kind ofdeep-tech, homegrown enterprise that MDAVF wasdesigned to support. Their achievements in sensitive domains like nuclear and defence demonstrate thepowerful impact of strategic capital.”
CORE is on the verge of completing a landmarkproject: the refurbishment of India’s oldest nuclearfacility at Tarapur, commissioned in 1969. This first-of-its-kind engineering initiative – unprecedented globally– aims to extend the plant’s operational life and establish India as a pioneer in nuclear life-extensiontechnologies.
As one of the few Indian companies certified with ISO 19443— a stringent nuclear- specific quality and safetystandard— CORE stands apart for its integratedcapabilities across manufacturing, EPC (Engineering, Procurement C Construction), and OCM (Operations CMaintenance) in the nuclear industry.
Driving India’s Nuclear Growth
With India aiming for 100 GW of nuclear capacity by 2047, CORE is strategically positioned to:
Mr. Nagesh Basarkar, Managing Director at CORE,said, “The nuclear sector demands uncompromisingfocus on safety, quality, and precision. This investmentgives muscle to our commitment to shaping India’s civilnuclear future.”
Supporting Indigenous Defence Manufacturing
Aligned with the Atmanirbhar Bharat mission, CORE willalso:
Founded over two decades ago, CORE Energy SystemsLtd. is a premier Indian EPC and advanced manufacturing firm, delivering mission-critical solutions across nuclear, defence, aerospace, oil C gas,and clean energy. The company remains firmly rootedin India’s self-reliance agenda, developing globallydeployable, future-ready technologies.