- Deep Fission Inc., a nuclear energy startup, has emerged from stealth mode with a $4 million pre-seed funding round led by 8VC. - The company aims to redefine nuclear power by placing reactors one mile underground to enhance safety, sustainability, and efficiency while reducing costs. - Founded in 2023 by Elizabeth and Richard Muller, Deep Fission uses traditional pressurized water reactor designs in an innovative underground environment. - The underground approach eliminates the need for large pressure vessels and containment structures, allowing the use of conventional low-enriched uranium fuel. - CEO Elizabeth Muller highlights the importance of affordable nuclear power to compete with coal and natural gas in the context of climate change. - The new funding will help accelerate hiring, regulatory approval, and the commercialization of Deep Fission's technology. - Joe Lonsdale from 8VC emphasizes the need for safe and cost-effective nuclear energy amid rising global demand. - Deep Fission has already achieved significant milestones, including a conceptual design and engagement with the Nuclear Regulatory Commission. - The company is based in Berkeley, CA, and is committed to advancing clean energy and global energy security.

Breakthrough Nuclear Startup, Deep Fission, Emerges from Stealth Mode with $4M in Backing:


August 22, 2024 12:00 PM Eastern Daylight Time

BERKELEY, Calif.--(BUSINESS WIRE)--Deep Fission Inc., a pioneering nuclear energy company, today announced its emergence from stealth mode and a $4 million pre-seed round, led by 8VC. Positioned at the forefront of advanced energy technology, Deep Fission aims to redefine the future of nuclear power with an unprecedented approach: placing reactors a mile underground.

Founded in 2023 by father-daughter team Elizabeth and Richard Muller, Deep Fission applies traditional pressurized water reactor design in an unconventional environment. By leveraging the natural conditions deep underground, the startup eliminates the need for large pressure vessels and containment structures, significantly reducing costs while enhancing safety, sustainability, and operational efficiency. It can do this while using conventional low-enriched uranium fuel and an existing supply chain, sidestepping a significant source of delay and concern for other advanced reactor designs.

“I am thrilled to introduce Deep Fission and present our groundbreaking approach to affordable nuclear power,” said Elizabeth Muller, co-founder and CEO of Deep Fission. “Climate change has accelerated the need for clean energy, and nuclear must be cheaper in order to compete with coal and natural gas. We’ve innovated beyond other reactor designs and engaged early and often with the Nuclear Regulatory Commission to make atomic energy a viable option to power AI, industrial applications, as well as remote communities. We cannot wait to share our findings with the world and do our part to help with the clean energy transition.”

The infusion of capital will accelerate efforts in hiring, regulatory approval, and the commercialization of Deep Fission’s revolutionary reactor technology.

“Cheap energy fuels our prosperity and all of our technology,” said Joe Lonsdale, Managing Partner at 8VC. “With global demand escalating, we need more options. We invested in Deep Fission because they are engineering a way for nuclear power to be exceptionally safe, cost-effective, and reliable - and far enough underground that hopefully neither war nor regulators can turn it off!”

The company has already met several important milestones, including completing a conceptual design, submitting a regulatory engagement plan, a conceptual design white paper, and a conceptual design review meeting with the Nuclear Regulatory Commission.

About Deep Fission:

Deep Fission is revolutionizing the energy landscape by putting modular nuclear power plants a mile underground. The team of leading scientists, engineers, and visionaries is driven by a shared commitment to advancing clean energy and global energy security. Headquartered in Berkeley, CA, the company has raised $4 million in funding from leading investors, including 8VC.

Contacts

For more information, visit deepfission.com or contact:
media@deepfission.com