Deep Fission, a nuclear energy company, has announced a $4m pre-seed funding round led by 8VC. The company focuses on advanced energy technology and is developing a method to place nuclear reactors a mile underground.
Deep Fission was established in 2023 by Elizabeth and Richard Muller, a father-daughter team. The company utilises traditional pressurised water reactor design in a non-traditional setting.
By taking advantage of the natural conditions found deep underground, Deep Fission eliminates the need for large pressure vessels and containment structures, which reduces costs and potentially enhances safety, sustainability, and operational efficiency.
The company operates with conventional low-enriched uranium fuel and relies on the existing supply chain, avoiding a common source of delays and concerns associated with other advanced reactor designs.
Deep Fission co-founder and CEO Elizabeth Muller said: “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 capital injection will be used to accelerate hiring efforts, seek regulatory approval, and advance the commercialisation of Deep Fission’s reactor technology.
The company has achieved several key milestones, including completing a conceptual design, submitting a regulatory engagement plan and a conceptual design white paper, and conducting a conceptual design review meeting with the Nuclear Regulatory Commission.
