Monitor progress toward NRC licensing submission and DOE authorization milestones in 2027, as well as tenant demand at the Great Plains Industrial Park that will determine actual revenue generation under the no-minimum-purchase agreement.
Price Chart
Executive Summary
Deep Fission signed a binding 25-year Master Energy Purchase Agreement with the Great Plains Development Authority for a planned commercial nuclear project in Kansas, converting a December 2025 letter of intent into a definitive contract. The initial phase targets 150 MW by September 2028, scaling to 2 GW by 2031, though the agreement has no minimum purchase obligation and is subject to regulatory approvals and tenant demand.
Key Facts
- Signed binding 25-year Master Energy Purchase Agreement with Great Plains Development Authority
- Initial phase targets 150 MW commercial operation by September 30, 2028
- Total project capacity up to 2,000 MW by 2031 pending demand growth
- No minimum purchase obligation — electricity purchases depend on actual tenant demand
- Agreement subject to NRC licensing, Kansas regulatory approvals, and other conditions
- Company also announced standard LEU fuel contract with Urenco and commercial drilling underway
- Illustrative NOAK unit economics: $84M upfront capital, $20M/yr avg revenue first 10 years, $10M/yr operating cash flow
Financial Impact
Illustrative unit economics show $84M upfront capital per 15 MWe reactor, $20M annual revenue, $10M annual operating cash flow over 40-year design life; project-level revenue potential of $600M over project life per unit
Risk Factors
- No minimum purchase obligation — revenue depends entirely on tenant demand
- Subject to NRC licensing, DOE authorization, and Kansas regulatory approvals
- Pre-revenue development-stage company with no operating history
- Commercial operation target of September 2028 is ambitious for a first-of-kind nuclear deployment
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-117389 |
| Document: tm2627978d1_8k.htm | 0001104659-26-117389 |
| Document: tm2627978d1_ex99-1.htm | 0001104659-26-117389 |
| Document: 0001104659-26-117389-index-headers.html | 0001104659-26-117389 |
| Document: 0001104659-26-117389-index.html | 0001104659-26-117389 |
| Document: 0001104659-26-117389.txt | 0001104659-26-117389 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | 8-K | $2.81 $2.63 | ▼ −6.41% | ▼ −6.93% | $2.30 (−18.15%) |
Sep 21, 2026 5w ago | 8-K | $7.82 $8.12 | ▲ +3.84% | ▲ +3.85% | $2.30 (−70.59%) |
Jun 22, 2026 18w ago | 8-K | $12.44 $9.76 | ▼ −21.54% | ▼ −21.50% | $2.30 (−81.51%) |
Jun 18, 2026 18w ago | 424B4 | $12.42 $12.44 | ▼ −0.16% | ▼ −1.61% | $2.30 (+81.48%) |
Jun 18, 2026 18w ago | EFFECT | $14.56 $12.42 | ▼ −14.70% | ▼ −14.38% | $2.30 (−84.20%) |
Jun 10, 2026 19w ago | S-1/A | — | awaiting T+1 | — | — |
US Market Status
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