Nuclear energy company Deep Fission has gone public through a reverse merger transaction with Surfside Acquisition and raised $30m through a private placement offering.
As a result of the deal, Surfside Acquisition, a special purpose acquisition company, has merged with the operational company. The new entity will retain the name of Deep Fission.
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This development comes after the US Department of Energy (DoE) recently selected Deep Fission to participate in President Donald Trump’s Nuclear Reactor Pilot Program.
This is expected to expedite the deployment of a pilot reactor, with a target for achieving criticality by 4 July 2026. The pilot phase will be followed by rapid commercialisation.
Deep Fission’s design leverages proven techniques from various industries, utilising off-the-shelf components and low-enriched uranium to streamline supply chains.
By situating reactors one mile underground, the company enhances safety through natural geological shielding and reduces the surface footprint. This natural geology is expected to reduce the development costs by up to 80%.
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By GlobalDataDeep Fission’s commercial strategy targets a competitive levelised cost of electricity of 5¢ to 7¢ per kilowatt hour.
The company’s intellectual property portfolio includes 24 pending patent applications, with one US application that has been allowed, and over 40 unique innovations.
Following the reverse merger, Deep Fission is now publicly accountable under the Securities Exchange Act of 1934.
Deep Fission CEO and co-founder Liz Muller said: “This is a unique moment for the nuclear industry.
“Deep Fission has the right technology, at the right time, and in the right place. With this funding, we can begin building our pilot reactor, with the goal of completion in 2026.
“We believe we can scale our technology rapidly and profitably to address the massive energy demand from AI data centres and other customers around the world.”
