Crowdfunder pitch - Deep Isolation

Crowdfunder pitch - Deep Isolation

• 1.
  Elizabeth Muller, CEO Safeand Permanent Isolation of Spent Nuclear Fuel
• 2.
  An Untapped $120Billion 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 Thinkthe 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 aUnique 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 – Fullyin 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 onlyalternative 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 toEntry • 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 knowchange 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 FirstMover 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 isWith 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 isadapting 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 offersa 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 drillhole 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 Formore information, contact: Jonathon Angell, CFO