“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.”
BERKELEY, Calif. (PRWEB) January 07, 2020
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 is of great interest to countries that are actively seeking additional options to dispose of their nuclear waste inventories.”
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.