Deep Fission

Deep Fission, Inc. is an advanced nuclear energy company pioneering a radical new approach to clean power generation: placing small modular pressurized water reactors (SMRs) a full mile underground inside deep boreholes. Founded in 2023 by the father-daughter team of Liz Muller (CEO) and Dr. Rich Muller (CTO), the company has branded its core product the "Gravity Nuclear Reactor™." By siting the reactor deep underground, the hydrostatic pressure of a mile-deep water column (~160 atm) naturally supports the operating pressure required for a pressurized water reactor, eliminating the need for costly surface pressure-containment structures. The company integrates three proven technology domains - pressurized water reactor design, deep borehole drilling (using standard oil & gas infrastructure), and geothermal heat-transfer methods - into a single novel system. Each reactor unit produces approximately 15 MWe and is designed to be deployed in scalable clusters, with a target six-month deployment timeline per reactor at scale.

Deep Fission's underground deployment architecture is engineered to slash nuclear construction costs by an estimated 70-80% compared to conventional nuclear plants, addressing one of the industry's most persistent challenges. The company has been selected for the U.S. Department of Energy's Reactor Pilot Program and broke ground in March 2026 on its first-of-a-kind pilot project in Parsons, Kansas. It has also signed a fuel supply agreement with Urenco USA and is publicly traded on NASDAQ (ticker: FISN) following a public offering in June 2026. Its non-binding commercial pipeline stands at 18.5 GWe across multiple strategic power site partnerships - representing enormous potential scale for clean baseload power.

For the U.S. energy supply chain, Deep Fission occupies a highly significant position in the nuclear equipment manufacturing category. Its approach leverages existing domestic oil & gas drilling infrastructure and established nuclear supply chains, potentially de-risking the long construction timelines and cost overruns that have historically hampered nuclear expansion. The company targets round-the-clock clean power for AI data centers and grid reliability needs - a rapidly growing market segment - and has attracted strategic partnerships with blue-chip financial institutions like Blue Owl Capital and Goldman Sachs. With a pilot project underway, a DOE program selection, and a growing commercial pipeline, Deep Fission represents one of the most capital-efficient and supply-chain-friendly pathways to new nuclear capacity in the United States.