Deep Fission, Inc., a pioneering advanced nuclear energy company placing 15 MWe small modular reactors (SMRs) in boreholes one mile underground, is pleased to announce that Mark Schmitz recently joined Deep Fission as Chief Financial Officer (CFO).

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Mark Schmitz, CFO at Deep Fission

With a proven track record of scaling growth-oriented companies and preparing them for public company reporting, Mark brings more than 40 years of global finance leadership experience across the energy technology, automotive, life safety, banking, and manufacturing sectors. He has served as CFO for leading companies, including Goodyear, Itron, Plug Power, and Alghanim Industries, and has held senior finance positions in China, Brazil, the U.K., and the Middle East.

“We’re thrilled to have Mark on board at this critical juncture,” said Liz Muller, Co-Founder and CEO of Deep Fission. “Mark was invaluable in our go-public transaction and will continue to play a critical role in supporting Deep Fission’s next phase of growth and execution as a public company.”

“It’s an exciting time to embark on this journey with Deep Fission as it redefines how nuclear energy can be deployed,” said Mark Schmitz, CFO of Deep Fission. “The company’s innovative model not only addresses the industry’s biggest barrier – cost – but also creates a pathway for nuclear to scale rapidly and play a central role in meeting global energy demands.”

Deep Fission recently announced major milestones, including its selection as one of ten companies to participate in President Trump’s new Reactor Pilot Program, the company’s recent go-public transaction, and the announcement of initial planned sites in Texas, Utah, and Kansas.

Deep Fission’s proprietary system combines mature, proven technologies: pressurized water nuclear reactors (the most common design worldwide), drilling methods from oil and gas, and heat transfer techniques from geothermal energy. By building on existing approaches, the company can rely on standard, off-the-shelf components and readily available low-enriched uranium (LEU) fuel.

Locating reactors one mile underground eliminates the need for costly, time-intensive surface construction typical of traditional plants. This model aims to reduce project expenses by up to 80% and enable a deployment timeline of six months from groundbreaking to full operation.

About Deep Fission

Deep Fission is revolutionizing the energy landscape with innovative technology that places a small modular pressurized water reactor in a borehole one mile underground. Founded and led by a team of seasoned scientists, engineers, and entrepreneurs, the Company is committed to delivering safe, reliable, and affordable low-carbon power at scale. Deep Fission was recently selected for the Department of Energy’s new Reactor Pilot Program and is targeting criticality by July 2026. Deep Fission was founded in 2023 by father-daughter team Elizabeth and Richard Muller. Learn more at deepfission.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, 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. Such forward-looking statements include statements regarding the company’s expectation that its innovative model will create a pathway for nuclear to scale rapidly and the company’s aim to reduce project expenses by up to 80% and enable a deployment timeline of six months from groundbreaking to full operation. 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: that the Company’s initial pilot facility and commercial applications may progress more slowly than projected or encounter delays and engineering changes that increase the expense and capital requirements for execution; that the market for our Deep Fission Reactor technology is not yet established and may not achieve the growth potential we expect or may grow more slowly than expected; that the necessary approvals and licenses relating to various aspects of our business may not be granted on a timely basis, if at all; that the cost of electricity generated from our Deep Fission Reactors may not be cost competitive with future electricity generation sources in some markets; that we may not succeed in entering into any binding contract with any customer to deliver our Deep Fission Reactors; that we may not be successful in entering into partnerships with strategic partners and government entities that would be important to our business; that we have limited experience commercializing our products at a large scale; that our SDA applications may not be approved, and any rework necessary to address NRC concerns could significantly delay the commercialization of our products; potentially having to defend ourselves against intellectual property infringement claims; the possibility that the benefits to customers of our products could be supplanted by other technologies or solutions or competitors’ products; that our auditor has issued a “going concern” opinion; that our business plans require a significant amount of capital but that there can be no assurance that such capital will be available to us on a timely basis, if at all. 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 (“SEC”), including the sections titled “Special Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s Registration Statement on Form S-1 filed with the SEC on September 22, 2025, as amended, and in subsequent filings with the SEC. The referenced SEC filings will be available either publicly when filed or upon request.

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