Nuclear startup Deep Fission goes public in a curious SPAC

Nuclear Division It was announced on Monday that it became public in a reverse combination, forged $ 30 million to company.

No, it’s not 2021.

Startup is proposing to construct small, tuberculosis nuclear power plants and Put them down in the hole of 30 inches in diameter Drill on earth a mile away. By burial the furnaces, the company is hoping to solve a number of problems that stimulate current furnaces, including anxiety over melldown and potential terrorist attacks.

The 15-megawat furnaces of the Deep Fish are cooled using pressed water, found in the same type of nuclear submarine and many existing power plants.

Earlier this year, the deep division signed an agreement with the developer efforts of the data center to create a 2 giggawatt underground reactor.

As recently as April, Startup was Raising Round a 15 million dollar seed. In August, deep division and other nuclear separation startups were selected as part of the fuel department Pilot programBasically the process of a flowing permit.

Four -year -old surfaced aquisition Inc. Under the terms of the opposite attachment, the offer had $ 3 per share, the target of other SPACS below the traditional $ 10 was. The new entity will hold the deep partition name, and although its shares are not yet trade, it says it wants to quote in OTSSIBE.

The situation around the SPAC – the share price, selected equity market and transaction time – suggests that the deep division was not able to collect cash from new or existing shareholders, who first capitalized the company with $ 4 million checks last year.

The merger earns give startup a little more runway than its sick seed round, but it is probably a very expensive sector -operated small company that probably imposes an SEC reporting cost. Deep Fision is hoping to start its first furnace by July 2026.