Deep Fission raises $80 million to build nuclear reactors one mile underground
The startup says its borehole design could cut construction costs by up to 80% compared with traditional nuclear plants
Deep Fission, a nuclear energy startup, has raised $80 million to advance the commercialisation of small modular reactors (SMRs) designed to be placed in boreholes one mile below the surface.
The funding round included participation from a fund managed by Blue Owl Capital, the alternative asset manager, which has also formed a strategic relationship with Deep Fission to deploy its reactors across Blue Owl's digital infrastructure portfolio.
Goldman Sachs acted as exclusive financial adviser on the deal and will continue to provide strategic advisory services to support the company's long-term growth and capital planning.
Deep Fission's design combines established pressurised water reactor technology with deep borehole drilling techniques and heat-transfer methods derived from the geothermal industry.
The company said leveraging existing supply chains and techniques could reduce construction costs by approximately 70% to 80% compared with conventional nuclear plants.
Deep Fission was selected for the US Department of Energy's Reactor Pilot Program in 2025 and has broken ground on a pilot project in Parsons, Kansas.
The company said it maintains a development pipeline representing 12.5 gigawatts of planned deployments.
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"These milestones will bolster Deep Fission's pursuit of scalable clean energy deployments and enable us to demonstrate what's possible with next-generation nuclear technology," said Liz Muller, the company's co-founder and chief executive.
The raise comes amid surging investor interest in nuclear power as a reliable source of clean electricity for energy-hungry data centres and artificial intelligence infrastructure.
The Recap
- Raised $80 million to advance reactor commercialisation efforts.
- Formed strategic relationship with Blue Owl for digital infrastructure.
- Selected for DOE Reactor Pilot Program and broke ground.
