Shares of Deep Fission Inc moved higher following the company's receipt of US Energy Department approval for its nuclear safety design protocol related to the gravity-based reactor. The stock climbed 8% in late afternoon trading on Thursday, reaching $9.38. Despite this gain, the shares remain down 36% for the year to date.

Deep Fission stated that this regulatory milestone confirms the nuclear energy firm's design concept is worthy of further advancement under the Energy Department's reactor pilot project. The protocol establishes a safety framework designed to guide the reactor's subsequent development, enabling the company to progress to the next stage of the approval process.

The next step will involve demonstrating and ultimately deploying the underground nuclear reactor technology. Deep Fission is currently advancing its commercial pilot project at the Great Plains Industrial Park in Parsons, Kansas. Ground was broken on the project this past December, and plans for concept validation are actively moving forward.

Ultimately, the company aims to secure a license from the Nuclear Regulatory Commission for its reactor to achieve commercial operation.