Deep Fission, a pioneering developer of small modular nuclear reactors designed for deep underground deployment, has announced the successful close of a $30 million private placement offering at $3.00 per share. The heavily oversubscribed round coincided with a go-public reverse merger with Surfside Acquisition, which has now been renamed Deep Fission. This milestone marks the company’s formal entry into the public markets and sets the stage for its next phase of reactor development.
Deep Fission’s novel approach involves placing pressurized water reactors one mile underground, using geological formations for natural shielding and containment. This siting strategy reduces surface footprint, enhances safety, and simplifies regulatory and construction pathways. The design leverages proven technologies from the nuclear, oil and gas, and geothermal sectors, and uses off-the-shelf components and low-enriched uranium to streamline supply chains and reduce costs.
The Department of Energy has selected the company to participate in President Trump’s Nuclear Reactor Pilot Program, which aims to accelerate deployment of next-generation reactors. Deep Fission is targeting reactor criticality by July 4, 2026, with commercialization to follow. Its first-of-a-kind implementation is expected to deliver electricity at a competitive levelized cost of 5–7 cents per kilowatt-hour.
Deep Fission’s IP portfolio includes 24 pending patents and over 40 unique innovations spanning reactor design, safety systems, and deployment methods. The technology is designed to meet the increasing energy demands of data centers, industrial operations, and remote communities, providing a modular and secure alternative to conventional nuclear infrastructure.
Following the reverse merger, Deep Fission is now subject to public reporting under the Securities Exchange Act of 1934. The company plans to file a resale registration statement on Form S-1 with the SEC. It will seek approval to list its shares on the OTCQB Venture Market, enhancing transparency and investor access as it scales its commercialization strategy.
Support/advisors: The Benchmark Company, Seaport Global Securities, Network 1 Financial Securities, Phoenix Financial Services, and Dinosaur Financial Group served as placement agents. Montrose Capital Partners sponsored the go-public transaction, and investors in Deep Fission include 8VC, Deep Future, Wave Function, Ed Eisler of EE Holdings, and Mark Tompkins of Montrose Capital Partners.
KEY QUOTE:
“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 centers and other customers around the world.”
Liz Muller, Co-Founder and Chief Executive Officer of Deep Fission
