Crowdfunder pitch - Deep Isolation

1. Elizabeth Muller, CEO
Safe and Permanent Isolation
of Spent Nuclear Fuel

2. An Untapped $120 Billion Market
• U.S. has 80,000 tons of accumulated waste with no available
disposal
• Current “interim” storage above ground at the reactors
 Waste grows by 2,000 tons per year from currently operating
nuclear plants
• US currently spends $1-2 billion per year on interim storage
 Spent in lawsuits because no permanent disposal available.
• Utility tax of 0.1¢ per kWh makes this an $80 billion market
in USA
 + $2 billion per year in new waste accumulated
 ~$40 billion international market
• An opportunity to make money while helping the
environment

3. Who cares?
85% of
American
s
Think the
government should
make finding a
solution to the
nuclear waste
problem a top
priority
Whether you support nuclear power or not, the
nuclear waste problem must be solved.
~ Richard Muller, MacArthur Genius and CTO of Deep
Isolation
1 in 3 Americans
lives within 50 miles of a
surface storage location “
$1-2B/year
Spent by taxpayers to
utilities from lawsuit
because there is no
disposal solution

4. Founded by a Unique Duo
A Father-Daughter team that
co-founded Berkeley Earth and has
been working together for the past
decade.
Uniting strategic vision with technical
savvy.
CEO Elizabeth Muller
Co-Founder and Executive Director
of Berkeley Earth
CTO Richard Muller
MacArthur “genius” and founder of two projects that led to Nobel prizes
for his post doctoral fellows (Cosmic Microwave Uniformity, Discovery
of Dark Energy).
Liz is the classic Chief Executive
~ Will Glaser, Founding CTO of Pandora
“

5. Team – Fully in Place
Science:
Richard
Muller
Comms:
David
Hoffman
Vision:
Elizabeth
Muller
MacArthur
“genius” and
Bloomberg
“Innovative
Thinker”
8-Time
Emmy
Winner
Gov’t.
Affairs:
Sam
Brinton
Briefed
Presidents
Obama and
Trump
Mktg:
Zann
Aeck
Finance:
Jonathon
Angell
Int’l.
Partners:
Steve
Mosher
Legal:
Mike
McBride
Outreach:
Mary
Woollen 4 Blue Ribbon
Commissioner
s and Staff
Ops &
Licensing:
Rod Baltzer
Former CEO of
Waste Control
Specialists
Borehole
Geophysics:
Jamie Rector
Hydrogeology:
Stefan Finsterle
Top
Scientists
2 Nobel
Laureates
Successful
Start Up
Founders
Nuclear
Experts
VC
Partners
Political
Influencers
Advisory Board:
Former
Secretary
of Energy

8. A Unique Technology
• Shale has held volatile gas (methane) for
millions of years, making a prima facie
case for isolation
• No need for humans at depth
• Minimize transportation by siting near
existing nuclear reactors
• First patent allowed; second provisional
application submitted
• Spent fuel is compact; one drill hole can
store 200 to 400 tons
• 3-4 drill holes per nuclear reactor lifetime
• Costs are low (details to be provided
offline); Nuclear Waste Fund = $300M
per drill hole

9. Competition?
• The only alternative
under consideration is
the Yucca Repository
(the deep borehole
program was cancelled
in 2017)
• $15 billion already spent
on Yucca; $96 billion to
complete (US OMB
estimate)
• Licensing and
construction halted in
2009. Expert staff laid
off, dispersed
• No funding for Yucca in
2018. Congress:
perhaps $120 million in
2019
• Completion opposed by
Nevada, spends $3.5
million per year on legal
challenges to Yucca
Deep Isolation’s method
uses directional drilling
techniques to secure sealed
containers beneath a mile of
sedimentary rock
At Yucca Mountain,
America’s spent nuclear fuel
is supposed to be stored in
a single massive repository
In DOE deep borehole
military waste repositories
(cancelled program), the
waste containers are on top
of one another, increasing
the risk of rupture
Canisters sit in 2-mile-
long drill holes 14 inches in
diameter, and can be
retrieved if desired
Parallel storage tunnels, 18-
feet in diameter just 1000
feet underground are
arranged in a 5-mile region
Canisters are placed in the
bottom mile of a 3-mile
deep shaft, which is topped
with layers of bentonite,
rock, and concrete

10. HUGE Barriers to Entry
• Not currently possible for private
companies to apply for license to
dispose of commercial spent
nuclear fuel
• Licensing costs are high, meeting
NRC technical requirements is
rigorous
• Many examples of stakeholder
engagement failure
• Organized opposition could cause
delays and increase cost
Why is nobody else in this
market?

11. • We know change is in the works, and
have a head start. NRC letter to
clarify. “Gang of 4 bill” (Nuclear Waste
Administration Act). Nuclear Waste
Innovation Act.
• Licensing costs lower for our solution.
• Stakeholder engagement is a core
competency for Deep Isolation.
• We are already talking with
environmental groups, forging
partnerships. Strong
interest in participating in our work.
Why is nobody else in this
market?

12. Deep Isolation’s First Mover Advantage
• 1st patent allowed, 2nd patent pending, more
in the works.
• It will be hard to displace an established
disposal solution.
 Public likes our solution
 Partnerships with communities, environmental
organizations
• Deep Isolation has an experienced
interdisciplinary team, not easily matched
by other companies.

13. The Public is With Us
• 90% agree: The government should review and consider
innovative alternative approaches to disposing of nuclear
waste
• 85% agree: The government should make finding a
solution to the nuclear waste problem a top priority
• 77% agree: The government should actively seek lower
cost solutions to the disposal of nuclear waste
• 76% agree: The government
should be able to contract
with private companies to
dispose of nuclear waste

14. A Validated Solution
• The Public Agrees
• Experts Agree: (Link to Video)
• Oversubscribed Angel Round (raised
$600k)

15. Deep Isolation is adapting recently
developed drilling technologies to make
disposal of nuclear fuel less expensive and
even safer than other approaches. This is a
technology that could prove important, not
only in the US, but around the world.
~ Steve Chu
Former Secretary of Energy, Nobel Laureate
“
“

16. “
Deep Isolation offers a unique, practical, and
affordable approach for the disposal of spent
nuclear fuel. I believe that their technology
is the key to the solution to the nuclear waste
problem.
“
~ Arno Penzias
Partner at NEA Investors, Nobel Laureate,
Former VP Bell Labs

17. $300M
Revenue per drill hole
Let me tell you about costs…
3 drill holes / year in 2022
12 drill holes / year by 2030

18. Series A Round, Seeking $8M
• Take us through site confirmation and license
preparation
• Milestones:
 2019: one of the following:
o NRC responds positively to letter, or
o Nuclear Waste Administration Act passes, or
o Nuclear Waste Innovation Act passes
 2019: Series B for licensing: additional $12-20M for 1-2
sites
 2020: License application(s) submitted
 2022: License granted for first site. $900 million in
revenue for first 3 drill holes. Self-funded thereafter.

19. jonathon@deepisolation.com
+1 415 336-1808
For more information, contact:
Jonathon Angell, CFO