In a major boost to India’s nuclear and defence capabilities, CORE Energy Systems Ltd. has secured Rs 200 crore in a landmark funding round. The Mumbai-based engineering firm, specializing in the nuclear sector, has pulled off one of the largest investments ever recorded in India’s nuclear industry.
The investment was led by prominent investors Pankaj Prasoon and Ashish Kacholia, along with a consortium of strategic backers committed to India’s long-term national objectives. The fresh capital will fuel the company’s expansion in infrastructure, manufacturing, and research and development.
India currently operates 25 nuclear reactors with a combined capacity of 8.88 GW, and eight more are under construction. The government has set an ambitious target of achieving 100 GW of nuclear capacity by 2047 as part of its Viksit Bharat vision and Net Zero emissions goal. Nuclear power, with its stable and carbon-free energy output, is increasingly seen as a cornerstone for powering AI-driven data centres and ensuring energy security.
Amey Belorkar, Senior Vice President at ICMS, highlighted the significance of this investment, stating, ‘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.’
One of CORE’s most notable projects is the refurbishment of India’s oldest operating nuclear facility in Tarapur, commissioned in 1969. This groundbreaking engineering effort, unprecedented globally, aims to extend the plant’s operational life. If successful, it could establish India as a leader in nuclear life extension technologies.
Nagesh Basarkar, Managing Director of CORE Energy Systems, emphasized the company’s commitment to excellence. ‘The nuclear sector demands uncompromising focus on safety, quality, and precision. This investment strengthens our ability to shape India’s civil nuclear future,’ he said.
In line with India’s Atmanirbhar Bharat mission, CORE plans to scale up production of advanced defence subsystems, localize cutting-edge technologies through global partnerships, and deliver high-reliability solutions across strategic sectors. This funding positions the company as a key player in India’s mission-critical infrastructure development.
The investment not only underscores the growing importance of nuclear energy in India’s energy mix but also highlights the private sector’s role in advancing national security and self-reliance. As CORE continues to innovate and expand, it is set to play a pivotal role in India’s energy and defence aspirations.