Deep Fission
Deep Fission, Inc. (Nasdaq: FISN) is a pre-revenue advanced nuclear energy company developing the Gravity Nuclear Reactor™, a small modular pressurized water reactor designed for installation approximately one mile underground in deep boreholes, targeting hyperscale data centers, AI infrastructure operators, and industrial parks with long-term power purchase agreements.
- Company typePublic
- Founded2023
- HeadquartersBerkeley, United States
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What Deep Fission does
Deep Fission, Inc. (Nasdaq: FISN) is a pre-revenue advanced nuclear energy company developing small modular pressurized water reactors designed to be installed approximately one mile underground in deep boreholes. The company's flagship product, the Gravity Nuclear Reactor™, integrates three proven technologies — pressurized water reactor (PWR) core, geothermal energy-transfer components for surface power generation, and oil-and-gas-style deep borehole drilling for containment — into a single system that uses the hydrostatic pressure (~160 atm) of a mile-deep water column to support reactor operating pressure and cooling. Reactor configurations under development include a 5 MWe Deep Fission Borehole Reactor 1 (DFBR-1), an 8 MWe (2x2) variant, and a 15 MWe (3x3) commercial unit, with the architecture supporting up to 100 co-located reactors per site for ~1.5 GW of combined capacity.
The company targets hyperscale data centers and AI infrastructure operators, industrial parks, and digital infrastructure developers as primary customers, with a commercial pipeline of up to 18.5 GW of non-binding Letters of Intent as of June 2026. Its business model is built on long-term power purchase agreements and future reactor equipment sales, with company-stated economics of $2.5-3 billion per GW and a 6-month Nth-of-a-Kind deployment timeline — representing claimed 70-80% cost reduction versus traditional nuclear. Deep Fission was founded in 2023 by Elizabeth Muller (CEO) and Richard Muller (CTO), went public via a September 2025 reverse merger with Surfside Acquisition Inc., and completed a traditional Nasdaq IPO in June 2026 raising $40 million; cumulative capital raised across the reverse merger PIPE, a February 2026 $80 million private placement, and the IPO totals approximately $150 million.
Deep Fission's go-to-market is enterprise-led, supported by a strategic deployment stack including Blue Owl Capital's Real Assets platform (digital infrastructure), Day & Zimmermann (construction), Halliburton (drilling), Urenco USA (LEU fuel supply), and Endeavor/Edge (waterless data center integration). The company is a participant in the U.S. Department of Energy's Reactor Pilot Program — one of 10 selected — and is operating from a 100-acre pilot site at Great Plains Industrial Park in Parsons, Kansas, where borehole drilling commenced in March 2026 and commercial operations are targeted for 2027-2028 subject to U.S. Nuclear Regulatory Commission licensing (application planned H1 2027). The company carries an $88.1 million accumulated deficit and a going-concern qualification in its public filings.
Deep Fission firmographics
Firmographics- Name
- Deep Fission
- Legal name
- Deep Fission, Inc.
- Website
- https://deepfission.com
- Company type
- Public
- Founded year
- 2023
- Operating status
- Ipo
- Headcount range
- 51–100 employees
- Short description
- Deep Fission, Inc. (Nasdaq: FISN) is a pre-revenue advanced nuclear energy company developing the Gravity Nuclear Reactor™, a small modular pressurized water reactor designed for installation approximately one mile underground in deep boreholes, targeting hyperscale data centers, AI infrastructure operators, and industrial parks with long-term power purchase agreements.
- Ownership category
- akta.pro rank
Deep Fission industry classification
Industry- Product category
- Advanced Nuclear Reactors
- NAICS
- Nuclear Electric Power Generation (221113)
- akta.pro primary industry
- Pressurized Water Reactor (PWR) Power Generation (EUACADAA)
- akta.pro secondary industry
- Small Modular Reactor (SMR) Power Generation (EUACADAF)
Keywords
Where Deep Fission is headquartered
LocationHeadquarters
- HQ city
- Berkeley
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Deep Fission business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Supply Chain
Revenue model
- Future Power Sales (Pre-Revenue): Deep Fission is currently pre-revenue with no revenue generated to date. Future revenue is expected to come from long-term power purchase agreements and electricity sales to data centers, industrial parks, and strategic partners. The company has signed non-binding Letters of Intent representing up to 18.5 GW of potential generation capacity.
- Future Reactor Equipment Sales: Projected future revenue stream from sale and deployment of small modular pressurized water reactor units (15 MWe each) and related technology. The company envisions deployment timelines of 6 months per reactor.
- Future Fuel and Services: Long-term revenue potential from low-enriched uranium (LEU) fuel supply and related nuclear services to support deployed reactors under fuel agreements such as the one signed with Urenco USA.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Outcome Based/ Performance | Multi-year contract | Power purchase agreements - Quote-based, not publicly disclosed |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels7 records
Deep Fission product offering
Product offeringCore offering
Deep Fission designs and develops the Gravity Nuclear Reactor™, an underground small modular pressurized water reactor (SMR) placed approximately one mile below the surface in deep boreholes, where hydrostatic pressure from the water column replaces conventional surface pressure vessels. The system integrates PWR fuel and operations with passive geothermal heat transfer, enabling compact, lower-cost, scalable nuclear power generation targeted at hyperscale data centers, industrial parks, and other large baseload customers.
Product overview
Deep Fission offers a single unified advanced nuclear product platform centered on its Gravity Nuclear Reactor™ — a small modular pressurized water reactor (SMR) designed to be installed approximately one mile underground in deep boreholes. The Gravity Nuclear Reactor™ integrates three proven technologies: a conventional pressurized water reactor core, geothermal-style energy transfer components for surface power generation, and oil-and-gas-style deep borehole drilling for containment and pressurization. Specific reactor configurations and variants within this single product platform include the 5 MWe Deep Fission Borehole Reactor 1 (DFBR-1) and the higher-output 15 MWe (3x3 configuration) and approximately 8 MWe (2x2 configuration) Gravity Reactor units, the latter of which is being deployed at the company's pilot site. The flagship pilot deployment is the Great Plains Industrial Park project in Parsons, Kansas, developed under the U.S. Department of Energy's Reactor Pilot Program and intended to serve as the template for commercial-scale underground SMR projects targeting data center, industrial, and digital infrastructure customers.
Differentiator
Problem solved
Functional benefit
Brands
- Gravity Nuclear Reactor: Proprietary small modular pressurized water reactor technology designed for installation in boreholes one mile underground using hydrostatic pressure, geothermal components, and deep borehole drilling.
- DFBR-1 (Deep Fission Borehole Reactor 1)
Products and services
- Gravity Nuclear Reactor™ The Gravity Nuclear Reactor™ is Deep Fission's underground small modular pressurized water reactor deployed approximately one mile below the surface in a deep borehole, where hydrostatic pressure from the water column replaces conventional surface pressure vessels and passive geothermal heat transfer removes the need for active cooling. It is sold to enterprise customers — principally hyperscale data center operators and industrial park owners — as a modular, scalable, low-carbon baseload power generation system, with available configurations including an 8 MWe (2x2) unit, a 15 MWe (3x3) unit, and clusters scalable up to approximately 1.5 GW per site.
- DFBR-1 Reactor Design DFBR-1 is Deep Fission's 5 MWe reference pressurized water reactor design intended to be deployed underground in a deep borehole using the company's Gravity Nuclear Reactor™ architecture. It serves as the reference commercial reactor design for the company's pilot deployment and DOE Reactor Pilot Program participation.
Quantifiable outcome
- 70-80% reduction in construction costs vs traditional nuclear plants
- +5 more outcomes
Companies that use Deep Fission
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
Deep Fission technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Deep Fission partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and flagship.
- HalliburtoncoreHalliburton referenced as a strategic partner for Deep Fission's underground reactor technology leveraging oil and gas industry expertise and drilling supply chains.
- Day & ZimmermannflagshipDay & Zimmermann contracted to oversee pre-construction planning and perform above-ground construction for Deep Fission's Gravity reactor at the Great Plains Industrial Park in Parsons, Kansas, as part of the DOE Reactor Pilot Program. One of 10 companies selected under the DOE program.
- Urenco USAcoreDeep Fission signed a fuel purchase agreement with Urenco USA for low-enriched uranium (LEU) to support testing, demonstration activities, and early commercial operations. Fuel sourced from Urenco's New Mexico enrichment facility in Eunice, NM.
- Surfside Acquisition Inc.flagshipDeep Fission went public through a reverse merger with Surfside Acquisition Inc. in September 2025, with the combined entity renamed Deep Fission. The reverse merger was accompanied by a $30 million private placement.
- Endeavor (parent of Edge)coreDeep Fission partnered with Endeavor, parent of Edge (waterless data centers), to minimize water usage for data center energy solutions. The partnership supports the Parsons, Kansas project at the Great Plains Industrial Park.
- U.S. Department of Energy (DOE)flagshipDeep Fission selected for the DOE's Reactor Pilot Program to accelerate commercialization. The partnership enables DOE authorization rather than NRC licensing during the pilot phase, targeting criticality milestones by July 4, 2026. Deep Fission also received a DOE voucher for further development.
Scale indicators12 records
Recent moves7 records
Expansion highlights6 records
Deep Fission competitors and assessment
Company assessmentDirect peers
- Oklo: Advanced nuclear fission company developing small modular fast reactors; also selected for the DOE Reactor Pilot Program and pursuing similar data center and industrial customer pipeline. Both target hyperscalers with compact, factory-built SMR designs.
- NuScale Power: Publicly traded SMR company (NYSE: SMR) developing light-water SMRs for data centers and utilities. Comparable advanced nuclear SMR business model targeting data center customers with longer timeline to commercial deployment.
- Last Energy: SMR developer also selected for the DOE Reactor Pilot Program with a focus on private micro-nuclear plants for industrial and data center customers. Directly comparable in stage, target market, and DOE pilot participation.
- X-energy: SMR developer building high-temperature gas-cooled reactors; secured DOE Advanced Reactor Demonstration Program funding. Comparable advanced nuclear SMR company targeting data center and industrial customers with similar regulatory pathway.
- Terrestrial Energy: Advanced nuclear company developing molten salt reactor SMRs; also one of 10 companies selected for the DOE Reactor Pilot Program. Direct competitor in advanced nuclear SMR space with same DOE pilot regulatory fast-track.
- Aalo Atomics: SMR developer also selected for the DOE Reactor Pilot Program and pursuing data center customers. Comparable early-stage advanced reactor company in same pilot cohort with similar pre-revenue profile.
- Antares Nuclear: Advanced reactor developer also selected for the DOE Reactor Pilot Program. Directly comparable peer in same DOE pilot cohort targeting commercial advanced nuclear deployment.
- Valar Atomics: Advanced nuclear SMR company also selected for the DOE Reactor Pilot Program. Directly comparable peer in same pilot cohort pursuing pre-commercial reactor demonstration.
Broad incumbents
- TerraPower: Bill Gates-backed advanced nuclear company building a sodium-cooled fast reactor demonstration in Wyoming. Larger, better-capitalized player in advanced nuclear pursuing similar hyperscaler and utility customers with a different reactor technology.
Emerging players
- Kairos Power: Advanced reactor developer building fluoride salt-cooled high-temperature reactors; received DOE Advanced Reactor Demonstration Program award. Comparable advanced nuclear SMR competitor pursuing similar commercial timeline and data center/utility customers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Deep Fission social profiles
Digital presenceDeep Fission compliance and trust
Trust signalCompliance3 records
Deep Fission financial estimates
Financial estimateRevenue estimate
Valuation estimate
Deep Fission leadership team
Management profileNumber of profiles
Profiles3 records
Deep Fission funding detail
Funding detailFunding overview
Funding rounds5 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Deep Fission M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Deep Fission
What does Deep Fission do?
Deep Fission designs and develops the Gravity Nuclear Reactor™, an underground small modular pressurized water reactor (SMR) placed approximately one mile below the surface in deep boreholes, where hydrostatic pressure from the water column replaces conventional surface pressure vessels. The system integrates PWR fuel and operations with passive geothermal heat transfer, enabling compact, lower-cost, scalable nuclear power generation targeted at hyperscale data centers, industrial parks, and other large baseload customers.
Is Deep Fission a public or private company?
Deep Fission is a public company. It is classified as public and is currently ipo.
When was Deep Fission founded?
Deep Fission was founded in 2023. It employs 51 to 100 people.
Where is Deep Fission based?
Deep Fission is headquartered in Berkeley, United States, in the North America region.
How does Deep Fission make money?
Three revenue lines are on record. Future Power Sales (Pre-Revenue) is the primary driver. The others are future Reactor Equipment Sales and future Fuel and Services.
Who are Deep Fission's main competitors?
Direct peers on record are Oklo, NuScale Power, Last Energy, X-energy, Terrestrial Energy, Aalo Atomics, Antares Nuclear and Valar Atomics. TerraPower is listed as a broad incumbent. Kairos Power is listed as an emerging player.
Does Deep Fission have an API?
No public API is recorded for Deep Fission.
What industry is Deep Fission in?
Deep Fission's product category is Advanced Nuclear Reactors. Its primary akta.pro industry code is EUACADAA, Pressurized Water Reactor (PWR) Power Generation, with a secondary code of EUACADAF, Small Modular Reactor (SMR) Power Generation. Its NAICS code is 221113.