Deep Fission Inc. Company Profile

Background

Overview

Deep Fission Inc. is an innovative nuclear energy company specializing in the development and deployment of small modular reactors (SMRs) situated one mile underground. By leveraging the natural containment properties of deep geology, Deep Fission aims to provide safe, reliable, and affordable low-carbon electricity solutions.

Mission and Vision

The company's mission is to revolutionize the energy landscape by delivering scalable, underground nuclear power solutions that address the growing global demand for clean energy. Their vision is to make nuclear energy more accessible and cost-effective, thereby contributing significantly to the reduction of carbon emissions worldwide.

Primary Area of Focus

Deep Fission focuses on the design, development, and deployment of SMRs that are placed deep underground, utilizing the surrounding geology for natural shielding and passive safety. This approach aims to reduce construction costs, enhance security, and expedite deployment timelines.

Industry Significance

As the world seeks sustainable and reliable energy sources, Deep Fission's innovative approach positions it as a significant player in the nuclear energy sector, offering a novel solution to the challenges associated with traditional nuclear power plants.

Key Strategic Focus

Core Objectives

• Cost Reduction: By situating reactors underground, Deep Fission aims to eliminate up to 80% of surface construction costs.

• Safety Enhancement: Utilizing the natural containment properties of deep geology provides passive safety and protection.

• Scalability: The modular design allows for reactors ranging from 15 MWe to over 1.5 GWe, enabling flexible deployment across various applications.

Specific Areas of Specialization

• Underground Reactor Deployment: Placing SMRs in 30-inch boreholes one mile deep to leverage geological advantages.

• Advanced Reactor Design: Developing pressurized water reactors (PWRs) that operate at standard pressures and temperatures, utilizing conventional low-enriched uranium fuel.

Key Technologies Utilized

• Pressurized Water Reactor (PWR) Technology: A proven reactor design adapted for underground deployment.

• Deep Borehole Drilling Techniques: Established methods from the oil and gas industry to drill deep boreholes efficiently.

Primary Markets or Conditions Targeted

• Data Centers: Providing reliable and clean energy solutions to meet the growing demands of AI and data processing.

• Industrial Facilities: Supplying consistent power to support manufacturing and other energy-intensive operations.

• Remote Grids: Offering scalable energy solutions for off-grid locations.

Financials and Funding

Total Funds Raised

Deep Fission has secured a total of $30 million in funding.

Recent Funding Rounds

• Private Placement Offering: Raised $30 million at $3.00 per share.

• Reverse Merger: Completed a go-public transaction with Surfside Acquisition Inc., now operating as Deep Fission, Inc.

Notable Investors

• 8VC: A technology and bio-sciences investment firm.

• Deep Future: An investment firm focusing on sustainable technologies.

• Wave Function: A venture capital firm investing in innovative energy solutions.

• Ed Eisler of EE Holdings: An individual investor with a background in energy investments.

• Mark Tompkins of Montrose Capital Partners: An individual investor specializing in energy sector investments.

Intended Utilization of Capital

The funds are allocated towards building the pilot reactor, regulatory approvals, and commercialization efforts.

Pipeline Development

Key Pipeline Candidates

• Pilot Reactor: A 15 MWe SMR designed for underground deployment.

Stages of Clinical Trials or Product Development

• Regulatory Engagement: Deep Fission is in pre-application engagement with the U.S. Nuclear Regulatory Commission (NRC) and expects to submit site-specific applications in 2026.

• Pilot Reactor Construction: Targeting completion by 2026, with the first reactors expected to begin operation in 2029.

Target Conditions

• Data Centers: Providing a reliable and clean energy source to meet the growing demands of AI and data processing.

• Industrial Facilities: Supplying consistent power to support manufacturing and other energy-intensive operations.

• Remote Grids: Offering scalable energy solutions for off-grid locations.

Relevant Timelines for Anticipated Milestones

• 2026: Target for pilot reactor completion.

• 2029: First reactors expected to begin operation.

Technological Platform and Innovation

Proprietary Technologies

• Borehole Reactor Design: A unique SMR design that utilizes deep underground placement for natural shielding and passive safety.

Significant Scientific Methods

• Deep Borehole Drilling: Utilizing established methods from the oil and gas industry to drill deep boreholes efficiently.

• Pressurized Water Reactor (PWR) Technology: A proven reactor design adapted for underground deployment.

Leadership Team

Liz Muller – Co-Founder & CEO

A serial entrepreneur at the forefront of nuclear energy and environmental innovation, Liz co-founded and serves as CEO of Deep Fission. She previously co-founded Deep Isolation, a nuclear waste disposal company, and Berkeley Earth, a nonprofit providing critical data science on climate change. Liz holds a Bachelor of Mathematics from UC San Diego and an MBA from ESCP Business School in Paris.

Rich Muller, Ph.D. – Co-Founder & CTO

Rich is a Professor Emeritus of Physics at the University of California, Berkeley, and co-founder of Deep Fission. He has authored over 100 peer-reviewed scientific articles and holds over 80 issued patents. Rich earned a B.A. in Physics from Columbia University and a Ph.D. in Physics from UC Berkeley.

Stuart Lacey – Chief AI Officer

Stuart is a leading expert on exponential growth, AI strategy, and implementation, with over 20 years of experience building innovative companies. He has founded 12 companies and is a published author and TEDx speaker on the future of personal data and privacy. Stuart holds a B.A. in Political Science from the University of California, Berkeley.

Mark Pérès – VP of Engineering

Mark has over forty years of experience in the nuclear industry, including design, construction, commissioning, engineering, operations, cleanup, and decommissioning. He has held key engineering and project management leadership roles at Kairos Power, NuScale Power, Fluor, Los Alamos, and the U.S. DOE’s Hanford K Basins Spent Nuclear Fuel and Liquid Waste Treatment facilities. Mark holds an undergraduate degree in mechanical engineering from Montana State University and a master’s degree in mechanical engineering from Washington State University.

Rani Franovich – VP of Regulatory Affairs

Rani is a recognized expert in commercial reactor safety, licensing, and regulatory modernization. She leads engagement with the Nuclear Regulatory Commission (NRC) and shapes the licensing strategy for Deep Fission’s borehole reactors. Rani holds an M.S. in Industrial and Systems Engineering from Virginia Tech and has completed executive programs at Harvard, Duke, and Rutgers.

Michael Brasel – VP of Nuclear Programs

Mike has nearly three decades of experience spanning nuclear, fossil, and renewable energy sectors.