Berkeley-based Deep Isolation Nuclear Inc. raised $33 million through a private placement to further its nuclear waste storage technology. Before the new funding, the company had raised $26.1 million over six rounds. The company is developing a system that utilizes oil and gas fracking techniques to store spent nuclear fuel deep underground, and the funding will support testing of a full-scale version of its borehole storage system. The planned full-scale test is set for early 2027 and will use canisters designed to hold spent fuel rods. Deep Isolation also announced a merger with U.S.-based blank check company Aspen-1 Acquisition Inc., facilitating its transition to a publicly traded entity in the coming months.
With a new generation of reactor technologies on the cusp of commercial deployment a new regulatory-ready, globally deployable canister solution is essential to keep pace.
Deep Isolation’s deep borehole technology will deliver a safe, scalable, and cost-effective solution for nuclear waste disposal — addressing the global need to move spent fuel from temporary above-ground storage to permanent disposal
Most recent financing will fund the development of a full-scale demonstration project to validate the safety and feasibility of the solution
Deep Isolation has developed an extensive intellectual property portfolio, with 87 issued patents across multiple countries, and has established strategic customer and/or supply chain relationships with leading companies across the nuclear energy industry
BERKELEY, CA – Deep Isolation Nuclear, Inc., a leading innovator in nuclear waste disposal technology, announced that on July 23, 2025, it closed a reverse merger transaction, as a result of which it acquired Deep Isolation, Inc. (Deep Isolation Nuclear, formerly known as Aspen-1 Acquisition Inc., and its subsidiaries, including Deep Isolation after the merger, “Deep Isolation” or the “Company”). Concurrently with the closing of the merger, it also closed an oversubscribed financing through a private placement of its common stock (raising $33 million). After giving effect to the merger and financing, the stockholders of Deep Isolation, Inc. hold a majority of the outstanding shares of Common Stock of the Company.
Deep Isolation is subject to the public reporting requirements of the Securities Exchange Act of 1934, as amended. It intends to file a resale registration statement on Form S-1 with the SEC to register its outstanding shares and apply to have its shares approved for quotation on the OTCQB market.
Deep Isolation Company Overview
Deep Isolation is revolutionizing the nuclear waste disposal industry through its innovative deep borehole technology, delivering a safe, scalable, and cost-effective solution for nuclear waste disposal — addressing the global need to move spent fuel from temporary above-ground storage to permanent disposal. The Company’s proprietary solution will place corrosion-resistant canisters containing nuclear waste in deep boreholes over one kilometer below the Earth’s surface, utilizing proven directional drilling technology to provide permanent isolation at a fraction of the cost of traditional mined repositories.
With nuclear power playing an increasingly critical role in the global transition to clean energy, the need for permanent nuclear waste disposal solutions has never been more urgent. Based on the International Atomic Energy Agency’s (IAEA) estimates and projected high case for annual global nuclear power generation, the global nuclear waste disposal market is currently estimated at over $155 billion and is projected to nearly double to $295 billion by 2050 as nuclear capacity expands worldwide. Currently, approximately 40 countries with nuclear energy programs do not have permanent disposal solutions for their nuclear waste. Most rely on temporary above-ground storage.
Deep Isolation’s asset-light business model will allow customers to engage with Deep Isolation throughout the nuclear waste disposal timeline – from appraisal to planning to implementation. Additionally, the Company intends to pursue licensing opportunities with strategic partners and governments, which has the potential for significant passive revenue. Deep Isolation has developed an extensive intellectual property portfolio, with 87 issued patents across multiple countries, and has established strategic customer and/or supply chain relationships with leading companies in the nuclear energy industry including, OKLO Inc., Kairos Power, SHINE Technologies LLC, Curio Legacy Ventures, Inc., Amentum, Bechtel, Dominion Engineering, Inc., Fermi Energia, NAC International Inc., Navarro Research & Engineering, Inc., and University of Sheffield AMRC.
The Company has received multiple Department of Energy grants totaling over $6 million, and has secured formal advocacy assistance from U.S. government agencies for international deployment of its technology. This support includes five ARPA-E contracts in partnership with OKLO Inc., Argonne National Lab, Idaho National Laboratory, Lawrence Berkeley National Lab and NAC for advanced fuel disposal and canister design. Deep Isolation has a strong international presence, including feasibility studies with multiple parties in Asia and Europe.
Deep Isolation is a founding member of the Deep Borehole Demonstration Center, an international nonprofit organization headquartered in Cameron, TX, that serves as a neutral, collaborative platform to evaluate deep borehole engineering and the safe, permanent disposal options for high-level nuclear waste and spent fuel. More info is available at www.deepboreholedemo.org.
Founded in Berkeley, California in 2016, Deep Isolation is led by CEO Rod Baltzer and a highly experienced management team with decades of combined experience in the nuclear and waste management sectors. In addition, management is supported by a top-tier Advisory Board consisting of top minds in geology, nuclear and environmental science, as well as community and stakeholder engagement experts, business leaders, innovators and entrepreneurs.
Deep Isolation’s solution addresses the critical need for permanent nuclear waste disposal while supporting the global transition to clean energy. The Company believes its innovative approach will offer up to 70% cost savings compared to traditional mined repository solutions while providing enhanced safety through deeper geological isolation.
Management Commentary
“This merger and private placement financing mark a pivotal moment for Deep Isolation as we work to revolutionize the nuclear waste disposal industry with our proprietary deep borehole technology,” said Rod Baltzer, CEO of Deep Isolation. “As demand for nuclear energy accelerates to meet the growing power needs of AI data centers and industrial processes and the eventual displacement of carbon-based power sources, the $155 billion global nuclear waste disposal market is projected to double by 2050. This strategic transaction provides the Company with broader access to capital to fund our full-scale technology demonstration and support continued growth and expansion of our global partnerships, positioning Deep Isolation Nuclear as a recognized market leader in the development of permanent nuclear waste disposal.”
Elizabeth Muller, Executive Chair and Co-Founder of Deep Isolation, commented: “For decades, nuclear waste disposal has relied solely on mined repositories, which face challenges including high costs, long development timelines and political opposition. At Deep Isolation, we recognized the opportunity to innovate by applying proven drilling advances from the oil and gas sector to solve the nuclear waste challenge. This insight led to our groundbreaking patents and has, we believe, established us as the leader in developing alternative nuclear waste disposal methods, specifically in commercializing directional drilling technology for this critical purpose. With this strategic financing and anticipated future quotation on the OTCQB, we believe Deep Isolation Nuclear can accelerate the development of our demonstration project and expand our commercial opportunities to capture a significant share of the rapidly growing nuclear waste disposal market as countries worldwide seek permanent disposal solutions for their nuclear energy programs.”
Dr. Steven Chu, a Deep Isolation Advisory Board Member and former U.S. Secretary of Energy, commented: “The nuclear waste challenge requires innovative solutions that prioritize both safety and economic viability. Deep Isolation’s approach represents a significant breakthrough by leveraging proven directional drilling technology to create a more accessible, scalable disposal method that can be deployed globally. With nuclear energy capacity targeted to triple globally by 2050, having a practical solution for waste disposal becomes increasingly critical. I believe Deep Isolation’s technology can transform how we address nuclear waste management and unlock a new era of sustainable nuclear energy development.”
Transaction Overview
Investors in the private offering included participation from existing investor NAC International—a strategic partner and subsidiary of Kanadevia Corporation (TYO: 7004) and investor in Deep Isolation prior to the merger, as well as new investors, including Mark Tompkins and nuclear-focused institutional investor Segra Capital Management. Seaport Global Securities, The Benchmark Company, Phoenix Financial Services, Network 1 Financial Securities, and Dinosaur Financial Group acted as co-placement agents. The transaction was sponsored by Montrose Capital Partners.
Neither the common stock of Deep Isolation Nuclear issued in the merger or in the private placement have been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be resold absent registration or an applicable exemption from registration requirements.
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About Deep Isolation
Deep Isolation is the first company to commercialize nuclear waste disposal in deep boreholes. It offers a uniquely tailored solution to help countries complete the necessary steps to dispose of their nuclear waste inventories. With 87 patents issued to date, Deep Isolation’s technology leverages proven drilling practices to safely isolate waste deep underground in horizontal, vertical, or slanted borehole repositories. Deep Isolation’s Universal Canister System (UCS) was developed through a three-year project funded by the U.S. Department of Energy’s Advanced Research Projects Agency -Energy (ARPA-E), and is engineered to support integrated management of spent fuel and high-level waste from advanced reactors across storage, transportation and eventual disposal.
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to, among others, our plans, objectives and expectations for our business, future growth, awards, backlog, operations and financial performance and condition. Forward-looking statements can include terminology such as “may,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “will,” “could,” “project,” “target,” “potential,” “continue” and similar expressions that do not relate solely to historical matters or actual results. Forward-looking statements are based on management’s belief and assumptions, including current expectations and projections about future events and trends, and on information currently available to management.
Forward-looking statements in this or any other release are subject to a number of risks, uncertainties, and assumptions that could cause actual results to be materially different from those forecasted assumed. Such risks, uncertainties, and assumptions are subject to a number of factors, including, among others: a failure of market to develop for our deep borehole disposal solutions or to develop as quickly as we expect; regulatory and legal developments, including issues relating to obtaining regulatory approvals or permissions; our lack of profitability; our failure to enter into contracts with customers or, once we do enter into contracts, to receive new contract awards; our dependency on governmental contracts and awards; our failure to manage our growth effectively or to execute our business plan; a failure to sustain and expand relationships with governmental entities and strategic partners; failure in the assumptions or analyses we have used in supporting forecasts or plans; our inability to commercialize our products at scale; the development or deployment of other technologies or solutions supplanting or competing with our technologies; challenges to our intellectual property, failures to protect, maintain, enforce, and enhance our intellectual property, and claims by others of intellectual property infringement; political and the public perceptions of nuclear energy, including perceptions as to accidents or other high-profile events involving nuclear power facilities or radioactive materials; our liquidity and ability to raise capital; any inability to control operating and project costs and project delays or other project-related problems; security (including cybersecurity) breaches or disruptions; geopolitical, macroeconomic, domestic events or crises, including supply chain disruptions and other risks and uncertainties outside of our control; weather and effects of climate change; litigation or legal proceeds that may be brought against us.
The foregoing is not an exhaustive list of all the factors that may cause any forward-looking statements to prove inaccurate or our actual results may differ materially from our expectations and forecasts. Moreover, we operate in a highly regulated environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, the future events and trends discussed in this Release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We cannot guarantee future results, performance, or achievements. We undertake no obligation to update any forward-looking statements for any reason after the date of this Release or to conform these statements to actual results or revised expectations, except as required by law.
Additional information concerning the factors above and other factors will be found in the Company’s public filings with the Securities and Exchange Commission (the “SEC”), including the sections titled “Forward-Looking Statements” and “Risk Factors” in the Company’s Current Report on Form 8-K dated July 23, 2025 that will be filed with the SEC and in subsequent filings with the SEC. The referenced SEC filings will be available either publicly when filed or upon request to Deep Isolation Nuclear InvestorRelations@deepisolation.com.
BERKELEY, CA – Deep Isolation, a leading innovator in nuclear waste disposal technology, announced that CEO Rod Baltzer appeared live on Bloomberg’s Open Interest on Monday, July 14, at 10:30 a.m. ET. The segment aired on Bloomberg Television and streamed online at bloomberg.com/live/us.
Open Interest is Bloomberg’s flagship morning program featuring market insights and emerging innovations in energy and sustainability. Baltzer’s appearance highlighted the growing urgency for nuclear waste disposal solutions amid expanding investment in clean energy technologies.
During the interview, Baltzer discussed Deep Isolation’s patented deep borehole disposal technology, emphasizing the importance of delivering real, permanent solutions for high-level radioactive waste.
“Nobody has ever disposed of [nuclear waste] anywhere in the world, and we have been producing nuclear power for 70 years,” said Baltzer. “We can do better, and we should do better. This is costing American taxpayers billions of dollars. We need to stop that and just do the right thing.”
He also spoke about the rising demand for clean energy, fueled by the rapid growth of Artificial Intelligence and the general progress we make every year. “The need for electricity is real,” he added. “Nuclear is a very consistent baseload, steady producer. It is something that is clean.”
Baltzer outlined Deep Isolation’s path forward, including its push for a full-scale, at depth demonstration of its disposal solution — an essential next step for regulatory acceptance and commercial deployment.
Deep Isolation’s appearance on Bloomberg underscores the company’s role as a market leader, uniquely positioned to address investor concerns in nuclear sustainability and waste management. Its approach, which utilizes proven directional drilling methods, delivers cost savings of up to 70% compared to traditional disposal methods, while significantly reducing environmental impact and enhancing safety. Deep Isolation’s participation in international initiatives, such as the WISARD project led by the Nuclear Energy Agency, highlights its commitment to developing integrated approaches to radioactive waste management for the next generation of nuclear power systems.
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About Deep Isolation
Deep Isolation is the first company to commercialize nuclear waste disposal in deep boreholes, offering a uniquely tailored solution to help countries complete the necessary steps to dispose of their waste inventories. With 109 patents granted to date, Deep Isolation’s technology leverages proven drilling practices to safely isolate waste deep underground in horizontal, vertical, or slanted borehole repositories. Deep Isolation’s Universal Canister System (UCS) was developed through a three-year project funded by the U.S. Department of Energy’s Advanced Research Projects Agency -Energy (ARPA-E), and is engineered to support integrated management of spent fuel and high-level waste from advanced nuclear reactors across the phases of storage, transportation and eventual disposal.
The U.S. nuclear industry is gearing up for a major shift in how it handles radioactive waste, introducing a new strategy aimed at finally breaking decades of policy and regulatory stalemate. The U.S. Nuclear Industry Council (USNIC) has rolled out an Action Plan designed to modernize the sector’s approach and align with broader federal goals to rejuvenate America’s nuclear energy capabilities.
The U.S. nuclear industry carries over $40 billion in stranded liabilities from spent nuclear fuel (SNF) and high-level waste (HLW), locked in temporary storage due to the failure of conventional disposal solutions like the Yucca Mountain repository. For decades, this unresolved problem has hindered nuclear energy’s growth, even as advanced reactors promise to decarbonize industries and stabilize energy grids. Enter Deep Isolation, a startup whose deep borehole disposal (DBD) technology is now positioned to transform the sector’s back-end logistics—and its investment potential.
California-based Deep Isolation has praised the U.S. Nuclear Industry Council for its plan to address nuclear waste disposal policy in the United States, including establishment of an independent body outside the Department of Energy.
BERKELEY, CA – Deep Isolation welcomes the release of a new national Action Plan by the U.S. Nuclear Industry Council (USNIC), outlining a path to implement President Trump’s vision for nuclear waste disposal as set forth in Executive Order 14302. The Action Plan for Transforming the Back End of the U.S. Nuclear Fuel Cycle provides a detailed roadmap for enabling permanent disposal of the nation’s spent nuclear fuel and high-level radioactive waste, and advances a public-private partnership model to move the nation forward.
The Action Plan offers a credible, consensus-driven roadmap to address the longstanding challenge of nuclear waste disposal in the United States. It calls for the creation of an independent waste management entity, access to existing Nuclear Waste Fund resources, and a collaboration-based siting process that empowers willing communities to partner in solutions. It also emphasizes the need for legislative reform and integration of innovative technologies like deep borehole disposal and advanced recycling.
“This is a pivotal moment for nuclear energy and for the country,” said Rod Baltzer, CEO of Deep Isolation and Chair of the USNIC Backend Working Group. “USNIC is providing an actionable plan on how to break through decades of paralysis on waste disposal. The Plan recognizes that the market is evolving, technologies are advancing, and communities are increasingly willing to be part of the solution.”
The plan directly supports Executive Order 14302, which calls for the revitalization of the nuclear industrial base and the establishment of a sustainable, long-term spent fuel strategy. The USNIC Action Plan turns the President’s vision into action, aligning industry consensus with clear steps to advance nuclear innovation, security, and waste solutions.
“We are fully committed to this vision,” said Baltzer. “By aligning the President’s Executive Order with a clear plan, we have a once-in-a-generation opportunity to make real progress on U.S. nuclear waste disposal, and to replace decades of inaction with solutions that are fiscally responsible, technically sound, and publicly supported.”
In particular, Deep Isolation strongly supports several key elements of the USNIC Action Plan, including:
Accelerated deployment of innovative disposal technologies, such as deep borehole disposal, to create greater flexibility and reduce lifecycle costs.
Streamlined regulatory pathways for non-traditional repository designs, aligning with IAEA and NRC modernization initiatives.
Prioritization ofnear-term demonstration projects to establish technical feasibility and community consent.
Public-private partnerships and competitive procurement, unlocking private sector investment and innovation in waste management.
Expanded DOE engagement with interested communities, helping build momentum for locally-supported disposal solutions consistent with global best practices.
The call for Congress to amend the 1987 Nuclear Waste Policy Act (NWPA) that has, for decades, blocked federal engagement with private-sector and community-led disposal efforts beyond Yucca Mountain.
To demonstrate its practical support for the aforementioned legislative update, Deep Isolation has submitted a formal proposal to deregulation.gov recommending that Congress revise NWPA Section 161 as proposed by the USNIC.
“We believe this targeted change would unlock meaningful progress,” Baltzer explained. “While full modernization of the Nuclear Waste Policy Act may ultimately be needed, this immediate step would empower the DOE to begin evaluating new disposal options, including Deep Isolation’s patented deep borehole disposal technology – and empower innovators to work with willing communities to develop safe, permanent, and cost‑effective options for the future.”
The proposed revision to NWPA Section 161 states:
Delete: “The Secretary may not conduct site-specific activities with respect to a second repository unless Congress has specifically authorized and appropriated funds for such activities.”
Replace with: “The Secretary may conduct, or may enter into a contract to conduct, site-specific activities with respect to a second repository. The Secretary may not prepare an application to the Commission for a license to construct a second repository unless Congress has specifically authorized and appropriated funds for such activities. Where a private-sector repository developer and an interested potential host community jointly request consideration of a repository site, the Secretary shall evaluate such request and report to the relevant congressional committees within 180 days. The Secretary may, consistent with existing authorities and appropriations, initiate site-specific activities or enter into contracts under this section in response to such a request.”
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About Deep Isolation
Named as one of Goldman Sachs’ Top 30 Startups in carbon capture, hydrogen power, and nuclear energy, Deep Isolation is the first company commercializing nuclear waste disposal in deep boreholes. It offers a uniquely tailored solution to help countries complete the necessary steps to dispose of their waste inventories. With 87 patents issued to date, it leverages proven drilling practices to safely isolate waste deep underground in horizontal, vertical, or slanted borehole repositories. Deep Isolation’s Universal Canister System (UCS) was developed through a three-year project funded by the U.S. Department of Energy’s Advanced Research Projects Agency -Energy (ARPA-E), and is engineered to support integrated management of spent fuel and high-level waste from advanced reactors across storage, transportation and eventual disposal.
