Deep Fission Raises $30 Million to Develop Underground Nuclear

Deep Fission Inc. raised $30 million in financing to develop a system for installing small nuclear reactors deep underground.

As part of the transaction, the Berkeley, California-based startup also completed a go-public reverse merger with Surfside Acquisition Inc., according to a statement Monday.

The oversubscribed funding round demonstrates the market’s eagerness to promote carbon-free nuclear technology at a time when demand for energy is climbing. Factories, more electrified homes and especially data centers are all driving up power consumption. Just a few years ago, reactors were struggling to compete with natural gas and renewables, but the dynamic has reversed and ...