Deep Fission Signs LOIs for Up to 18.5 GW Potential Generation Capacity
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 24 2026
0mins
Deep Fission announced it has signed Letters of Intent with data centers, co-developers, industrial parks, and strategic partners representing up to 18.5 gigawatts, GW, of potential generation capacity. "The growing pipeline is a testament to the urgent interest in our mile-deep deployment model," said Liz Muller, CEO and co-founder of Deep Fission. "Data center developers and other industrial partners need a solution that can be deployed quickly and then scaled rapidly - and the Gravity Nuclear Reactor is a good fit for those requirements."
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About FISN
Deep Fission, Inc. is a nuclear energy company. It is engaged in developing small modular pressurized water reactors installed one mile underground. It is developing a small modular reactor based on established pressurized water reactor technology, with novel emplacement in deep boreholes approximately one mile below the Earth’s surface. Its activities include test borehole construction, reactor design, safety analysis, thermal-hydraulic modeling, regulatory engagement with the Department of Energy (DOE) and the Nuclear Regulatory Commission (NRC), and supply chain development for reactor components and drilling operations. Its reactor, which it refers to as the Gravity Reactor, will leverage subsurface conditions to support key containment and operating functions, including the use of hydrostatic pressure from a water column within the borehole to support reactor operating pressure and cooling, and the surrounding geological formation to provide structural confinement and shielding.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Deep Fission Joins Nuclear Power Event Ahead of 250th Anniversary
- Customer Pipeline Potential: Deep Fission announces Letters of Intent with data centers and industrial partners representing up to 18.5 gigawatts of potential generation capacity, indicating strong demand and growth potential in the nuclear energy market.
- Historic Policy Shift: As one of ten companies selected for the Department of Energy's Reactor Pilot Program, Deep Fission's participation signifies a major shift in federal policy, allowing reactor testing and deployment outside national laboratories, thus advancing the commercialization of nuclear technology.
- Technological Innovation: Deep Fission is developing its Gravity Nuclear Reactor™ technology, which places a small modular pressurized water reactor in a borehole approximately one mile underground, aimed at simplifying construction, enhancing safety, and supporting scalable commercial deployment to meet growing electricity demand.
- First Project Progress: The company is currently advancing its first reactor project in Parsons, Kansas, as part of the DOE's Reactor Pilot Program, showcasing its technological capabilities and market prospects in the nuclear energy sector.
See More
Deep Fission (FISN) Rises 13.5% After Signing LOIs for 18.5 GW Capacity
- Potential Generation Capacity: Deep Fission has signed letters of intent with data centers, co-developers, and strategic partners representing up to 18.5 GW of potential generation capacity, indicating strong market demand and growth potential in the clean energy sector.
- Project Advancement: The company is advancing its first reactor project at the Great Plains Industrial Park in Kansas, having completed drilling its first data acquisition borehole to approximately 6,000 feet deep, marking a significant milestone in the Department of Energy's Reactor Pilot Program.
- Deployment Plans: Deep Fission aims to first demonstrate the ability to drill a commercial-scale borehole and then safely deploy a prototype reactor, with plans to apply for a commercial license from the U.S. Nuclear Regulatory Commission in H1 next year, contingent on continued technical progress and financing.
- Market Demand Fit: CEO Liz Muller noted that data center developers and industrial partners require solutions that can be deployed quickly and scaled rapidly, and the Gravity Nuclear Reactor aligns well with these needs, highlighting the market adaptability and prospects of the company's technology.
See More
Deep Fission Signs LOIs for 18.5 GW Capacity, Targets 2027 Commercial Operations
- Potential Generation Capacity: Deep Fission has signed Letters of Intent with data centers and industrial partners representing up to 18.5 gigawatts of potential generation capacity, indicating strong market interest in its underground reactor deployment model, which could provide solutions for future electricity demands.
- Project Advancement: The company is advancing its first reactor project at the Great Plains Industrial Park in Kansas, having completed a data acquisition borehole approximately 6,000 feet deep, marking a critical milestone in its technology development that is expected to accelerate commercialization efforts.
- Commercial License Application: Deep Fission plans to apply for a commercial license with the U.S. Nuclear Regulatory Commission in the first half of 2027, although this process depends on multiple factors including technical progress, financing, and regulatory approvals, with success directly impacting future revenues and market positioning.
- Non-Binding LOIs: While the signed Letters of Intent indicate potential demand, these agreements do not commit to purchasing electricity or constructing facilities, allowing either party to terminate without penalty, reflecting the uncertainties and risks present in the market.
See More
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- Deep Fission Financing Situation: Nuclear reactor developer Deep Fission initially aimed to raise $150 million but ultimately secured only $40 million, with a market cap of about $1 billion, reflecting weakened demand for small modular reactors and resulting in a 9% drop in its first-day trading.
See More
Deep Fission Raises $40 Million in IPO for Modular Nuclear Reactors
- Funding Achievement: Deep Fission successfully raised $40 million by offering 2.5 million shares at $16 each, which is at the lower end of the $16 to $18 range, indicating market caution regarding its small modular nuclear reactors.
- Offering Adjustment: Originally planning to offer 6 million shares at $24 to $26, the company reduced its terms earlier this month, reflecting a reassessment of market demand that could impact future fundraising capabilities.
- Technological Innovation: The Gravity Reactor developed by Deep Fission is designed to be installed approximately one mile underground, utilizing hydrostatic pressure and geological formations to support safety functions, aiming to reduce reliance on large surface infrastructure associated with conventional nuclear plants, thereby lowering capital costs and accelerating deployment.
- Market Positioning: Although the company has not generated any revenue to date, its plans to list on Nasdaq under the ticker FISN and its collaboration with Benchmark Company and Seaport Global indicate a strategic positioning in the nuclear energy technology sector and potential for future growth.
See More
Deep Fission Prices Public Offering at $16 per Share
- Public Offering Size: Deep Fission announced the pricing of its public offering at $16.00 per share for 2,500,000 shares, aiming for total gross proceeds of $40 million, which will significantly support the company's engineering and research initiatives.
- Additional Share Option: The company has granted underwriters a 30-day option to purchase an additional 375,000 shares at the same price, enhancing financial flexibility and potentially boosting market confidence.
- Listing Information: Deep Fission's common stock has been approved for listing on the Nasdaq Global Market under the ticker symbol “FISN,” expected to commence trading on June 18, 2026, marking a significant step towards public market engagement.
- Planned Use of Proceeds: The net proceeds from this offering will be allocated for general working capital and corporate purposes, including the engineering, research, licensing, and construction of its first pilot nuclear reactor, reflecting the company's strategic focus on future growth.
See More
Deep Fission Joins Nuclear Power Event Ahead of 250th Anniversary
- Customer Pipeline Potential: Deep Fission announces Letters of Intent with data centers and industrial partners representing up to 18.5 gigawatts of potential generation capacity, indicating strong demand and growth potential in the nuclear energy market.
- Historic Policy Shift: As one of ten companies selected for the Department of Energy's Reactor Pilot Program, Deep Fission's participation signifies a major shift in federal policy, allowing reactor testing and deployment outside national laboratories, thus advancing the commercialization of nuclear technology.
- Technological Innovation: Deep Fission is developing its Gravity Nuclear Reactor™ technology, which places a small modular pressurized water reactor in a borehole approximately one mile underground, aimed at simplifying construction, enhancing safety, and supporting scalable commercial deployment to meet growing electricity demand.
- First Project Progress: The company is currently advancing its first reactor project in Parsons, Kansas, as part of the DOE's Reactor Pilot Program, showcasing its technological capabilities and market prospects in the nuclear energy sector.
See More
Deep Fission (FISN) Rises 13.5% After Signing LOIs for 18.5 GW Capacity
- Potential Generation Capacity: Deep Fission has signed letters of intent with data centers, co-developers, and strategic partners representing up to 18.5 GW of potential generation capacity, indicating strong market demand and growth potential in the clean energy sector.
- Project Advancement: The company is advancing its first reactor project at the Great Plains Industrial Park in Kansas, having completed drilling its first data acquisition borehole to approximately 6,000 feet deep, marking a significant milestone in the Department of Energy's Reactor Pilot Program.
- Deployment Plans: Deep Fission aims to first demonstrate the ability to drill a commercial-scale borehole and then safely deploy a prototype reactor, with plans to apply for a commercial license from the U.S. Nuclear Regulatory Commission in H1 next year, contingent on continued technical progress and financing.
- Market Demand Fit: CEO Liz Muller noted that data center developers and industrial partners require solutions that can be deployed quickly and scaled rapidly, and the Gravity Nuclear Reactor aligns well with these needs, highlighting the market adaptability and prospects of the company's technology.
See More
Deep Fission Signs LOIs for 18.5 GW Capacity, Targets 2027 Commercial Operations
- Potential Generation Capacity: Deep Fission has signed Letters of Intent with data centers and industrial partners representing up to 18.5 gigawatts of potential generation capacity, indicating strong market interest in its underground reactor deployment model, which could provide solutions for future electricity demands.
- Project Advancement: The company is advancing its first reactor project at the Great Plains Industrial Park in Kansas, having completed a data acquisition borehole approximately 6,000 feet deep, marking a critical milestone in its technology development that is expected to accelerate commercialization efforts.
- Commercial License Application: Deep Fission plans to apply for a commercial license with the U.S. Nuclear Regulatory Commission in the first half of 2027, although this process depends on multiple factors including technical progress, financing, and regulatory approvals, with success directly impacting future revenues and market positioning.
- Non-Binding LOIs: While the signed Letters of Intent indicate potential demand, these agreements do not commit to purchasing electricity or constructing facilities, allowing either party to terminate without penalty, reflecting the uncertainties and risks present in the market.
See More
Kardigan's IPO Soars 37.5% on First Day, Highlighting Biotech Strength
- Kardigan IPO Performance: Biotech firm Kardigan raised $400 million at the high end of its range, achieving a market cap of $1.7 billion, with a first-day stock surge of 37.5%, reflecting strong market confidence in the biotech sector, particularly in cardiovascular disease treatments.
- SpaceX Trading Dynamics: SpaceX's IPO saw a 19% first-day increase, reaching $201.80 by Tuesday's close, a 49% rise from its offering price, although it later fell to $185.00, indicating high market interest and expected volatility in its future performance.
- First Carolina Financial Performance: North Carolina-based First Carolina Financial Services raised $69 million below expectations, with a modest 1% gain on debut; however, its $3.5 billion in assets and commitment to technology investments highlight its significance in the regional economy.
- Deep Fission Financing Situation: Nuclear reactor developer Deep Fission initially aimed to raise $150 million but ultimately secured only $40 million, with a market cap of about $1 billion, reflecting weakened demand for small modular reactors and resulting in a 9% drop in its first-day trading.
See More
Deep Fission Raises $40 Million in IPO for Modular Nuclear Reactors
- Funding Achievement: Deep Fission successfully raised $40 million by offering 2.5 million shares at $16 each, which is at the lower end of the $16 to $18 range, indicating market caution regarding its small modular nuclear reactors.
- Offering Adjustment: Originally planning to offer 6 million shares at $24 to $26, the company reduced its terms earlier this month, reflecting a reassessment of market demand that could impact future fundraising capabilities.
- Technological Innovation: The Gravity Reactor developed by Deep Fission is designed to be installed approximately one mile underground, utilizing hydrostatic pressure and geological formations to support safety functions, aiming to reduce reliance on large surface infrastructure associated with conventional nuclear plants, thereby lowering capital costs and accelerating deployment.
- Market Positioning: Although the company has not generated any revenue to date, its plans to list on Nasdaq under the ticker FISN and its collaboration with Benchmark Company and Seaport Global indicate a strategic positioning in the nuclear energy technology sector and potential for future growth.
See More
Deep Fission Prices Public Offering at $16 per Share
- Public Offering Size: Deep Fission announced the pricing of its public offering at $16.00 per share for 2,500,000 shares, aiming for total gross proceeds of $40 million, which will significantly support the company's engineering and research initiatives.
- Additional Share Option: The company has granted underwriters a 30-day option to purchase an additional 375,000 shares at the same price, enhancing financial flexibility and potentially boosting market confidence.
- Listing Information: Deep Fission's common stock has been approved for listing on the Nasdaq Global Market under the ticker symbol “FISN,” expected to commence trading on June 18, 2026, marking a significant step towards public market engagement.
- Planned Use of Proceeds: The net proceeds from this offering will be allocated for general working capital and corporate purposes, including the engineering, research, licensing, and construction of its first pilot nuclear reactor, reflecting the company's strategic focus on future growth.
See More
