BERKELEY, Calif.–(BUSINESS WIRE)–Deep Fission, Inc. (“Deep Fission” or the “Company”), a pioneering advanced nuclear energy company placing small modular pressurized water reactors in boreholes one mile underground, announced today it has signed Letters of Intent (LOIs) with data centers, co-developers, industrial parks, and strategic partners totaling 12.5 gigawatts (GW) of power. The LOIs outline plans to pursue commercial deployment of Deep Fission’s small modular reactors (SMRs).
“The world is transforming before our eyes, and there is a race to secure the energy needed to fuel the robust growth in AI and data centers,” said Liz Muller, Co-Founder and CEO. “It’s inspiring to see the swift embrace of Deep Fission’s technology. We’re proud to partner with industry leaders as we seek to deliver safe, cost-effective, and rapidly deployable power that meets today’s demand while building a more resilient future.”
Deep Fission’s proprietary design combines proven methods from the nuclear, oil and gas, and geothermal industries, while utilizing off-the-shelf parts and readily available, low-enriched uranium (LEU) to simplify supply chains. Each reactor will be placed one mile underground, where the surrounding geology offers billions of tons of passive shielding and natural containment. This approach aims to enhance safety and security, reduce surface footprint, and enable a faster, more affordable path to deployment.
The Company estimates its model could reduce overall costs by 70–80% compared to traditional nuclear plants, delivering a projected levelized cost of electricity (LCOE) of 5–7 cents per kWh.
The news follows Deep Fission’s successful completion of a go-public transaction and private placement financing that raised $30M. The Company will apply to have its shares quoted on the OTCQB (The Venture Market), and recently announced its first planned sites in Texas, Utah, and Kansas.
About Deep Fission
Deep Fission is revolutionizing the energy landscape with innovative technology that places a small modular pressurized water reactor in a borehole one mile underground. Founded and led by a team of seasoned scientists, engineers, and entrepreneurs, the Company is committed to delivering safe, reliable, and affordable low-carbon power at scale. Deep Fission was recently selected for the Department of Energy’s new Reactor Pilot Program and is targeting criticality by July 2026. Deep Fission was founded in 2023 by father-daughter team Elizabeth and Richard Muller. Learn more at deepfission.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. federal securities laws, including, among other things, statements regarding Deep Fission’s development plans, anticipated project timelines, cost objectives, partnerships, and other future matters. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Important factors are described under “Risk Factors” and “Special Note Regarding Forward-Looking Statements” in Deep Fission’s registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (as amended from time to time), and in other filings Deep Fission makes with the SEC. Deep Fission makes no guarantee of future results, performance, or achievements and undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Contacts
For media inquiries, please contact:
Chloe Frader, VP of Strategic Affairs
[email protected]
For investor inquiries, please contact:
Bob Prag
[email protected]
(858) 794-9500
