Press Release, January 7, 2020

Deep Isolation Begins Series A Investment Round

Berkeley, CA – Deep Isolation, a leading innovator in nuclear waste disposal solutions, kicks off its Series A raise on January 7, 2020. The company hopes to secure $10-15 million from venture investors; it already has $5 million of in-kind support committed from strategic partners.

“Our next milestone is $50M in global sales,” said Elizabeth Muller, CEO of Deep Isolation.  “To achieve this, we plan to identify specific sites, begin rock characterization, and start drilling.  Community and stakeholder engagement will continue to be a major focus and remains a core competency.”

In its angel and seed rounds, Deep Isolation raised over $14 million from a diverse group of about 30 individual investors, including environmentalists, entrepreneurs, and concerned citizens.  There has been no institutional investment to date. All investors share the company’s vision for solving an important environmental problem and demonstrate confidence in the technology and the leadership team.

Deep Isolation is the first private company to offer a packaged solution for nuclear waste disposal.  “This is a $500 billion global opportunity that is ripe for disruption,” says current investor David Marquardt.  “No country anywhere in the world has successfully disposed of high-level nuclear waste.  Deep Isolation has both the technology and the stakeholder engagement expertise that is critical for success.”

Following the public demonstration of its technology in early 2019, the company gained significant traction through its partnership with Bechtel National Inc., part of the largest engineering and construction company in the United States.  “We are a global company with decades of service to the nuclear industry, from research and development to decommissioning and cleanup,” said James Taylor, general manager of Bechtel’s Environmental business line. “We believe the Deep Isolation solution holds great promise as a safe and cost-effective alternative for any nation committed to responsible storage or disposal of used nuclear fuel.”

Other significant milestones include the publication of three technical papers in the peer-reviewed scientific journal “Energies” by MDPI, 30+ technology patents issued and/or pending, half a dozen Letters of Intent from future customers, and an agreement with NAC International Inc., a leading nuclear fuel cycle consulting and technology solutions company.  

“Securing our Series A raise means that Deep Isolation will continue to bring much-needed innovation to nuclear waste disposal and get the world closer to solving a decades-old challenge,” notes Rod Baltzer, Deep Isolation COO.  “Our technology and our approach to stakeholder and community engagement are of great interest to countries that are actively seeking additional options to dispose of their nuclear waste inventories.”

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About Deep Isolation 
Berkeley-based Deep Isolation is a leading innovator in nuclear waste storage and disposal. Founded through a passion for environmental stewardship, scientific ingenuity, and entrepreneurship, Deep Isolation has developed a patented solution using directional drilling and inclusive community engagement to safely isolate nuclear waste deep underground.

Press Contact
Zann Aeck
media@deepisolation.com

Deep Isolation, Inc.
2120 University Avenue, Ste. 623
Berkeley, CA 94704
USA
www.deepisolation.com

Berkeley, CA – Deep Isolation, a leading innovator in spent nuclear fuel (SNF) and high-level waste (HLW) storage and disposal solutions, has signed a cooperative agreement with NAC International Inc. (NAC), a leading nuclear fuel cycle consulting and technology solutions company specializing in casks and canister systems for nuclear materials transport and spent fuel storage and disposal.

Deep Isolation and NAC will cooperate in the design, development, and manufacturing of Deep Isolation’s SNF and HLW disposal canister technology. Leveraging NAC’s dry fuel storage technologies, the two companies will collaborate to advance the technical aspects of Deep Isolation’s current solution design for canister storage, disposal, and equipment for the transfer of SNF and HLW from existing storage areas to a Deep Isolation repository.

“With NAC’s global leadership and demonstrated canister safety and design expertise, we have an opportunity not only to further develop the safety and quality of our canister technology, but to implement a waste management strategy that covers onsite interim storage as well as handling, transport, and final disposal,” notes Elizabeth Muller, CEO of Deep Isolation.

NAC International is an innovative leader with proven experience in commercial and governmental nuclear material safeguards management, specializing in the design, licensing, and deployment of storage and transport systems. With over 20 years of decommissioning spent fuel management experience, NAC has supplied a large share of the used fuel systems at decommissioning U.S. utility sites. As a contractor for the U.S. Department of Energy (DOE), NAC has developed and deployed transportable storage systems at DOE sites and has packaged and transported fuel all over the world.

“NAC welcomes this opportunity to work with Deep Isolation and its partners in the development of a safe and efficient integrated waste management solution that is greatly needed by the nuclear industry worldwide,” said Kent Cole, President and CEO of NAC International. “NAC’s technology and knowhow fit well with Deep Isolation’s solution to ensure storage, transport, and disposal objectives are well integrated into efficient waste disposition strategies, tailored to the relative size and needs of each country’s nuclear power program.”

This is the second strategic partnership that the Berkeley-based startup has made in the last 6 months. Earlier this summer, Deep Isolation announced a cooperative agreement with Bechtel National, Inc., part of the largest engineering and construction company in the United States to support Deep Isolation’s sales and engineering capabilities as well as the capacity to deliver its solution around the world.

“In this highly regulated market, it’s critical to bring innovations in waste management through established industry leaders,” comments Rod Baltzer, COO of Deep Isolation.  “This partnership demonstrates the impact we are having in this industry and our ability to deliver a storage and disposal solution to governments looking for another option.”

Deep Isolation has gained significant traction this year with a public demonstration of its technology in January, three technical papers published in the peer-reviewed scientific journal Energies by MDPI, and most recently the expansion of its business development efforts internationally. 

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About Deep Isolation 
Berkeley-based Deep Isolation is a leading innovator in spent nuclear fuel and high-level waste storage and disposal solutions. Founded through a passion for environmental stewardship, scientific ingenuity, and entrepreneurship, Deep Isolation has developed a patented solution using directional drilling and inclusive community engagement to safely isolate waste deep underground.

About NAC
NAC is a leading supplier of fuel cycle consulting and nuclear fuel backend technology solutions, providing full-scope services for used nuclear fuel and radioactive waste packaging, storage, transport, and management. NAC has completed projects in more than 60 countries and maintains its corporate headquarters in Peachtree Corners, GA. NAC is a wholly-owned subsidiary of Hitachi Zosen Corporation, a global leader in the design and construction of environmental systems, industrial plants, industrial machinery, process equipment, infrastructure-related equipment, disaster prevention systems, and precision machinery.

Press Contacts:

Zann Aeck – Deep Isolation
media@deepisolation.com 

Deep Isolation, Inc.
2120 University Avenue, Ste. 623
Berkeley, CA 94704
USA
www.deepisolation.com 

George Vaughan – NAC International
gvaughan@nacintl.com

NAC International Inc.
3930 East Jones Br. Rd., Ste. 200
Peachtree Corners, GA 30092
USA
www.nacintl.com