About Deep Isolation

Deep Isolation, Inc. was established in 2016 with the goal of addressing climate change through innovative nuclear waste disposal. “A lot of people don’t like nuclear power, and a lot of that is because there’s not a solution for the waste,” explained Rod Baltzer, CEO. Deep Isolation’s patented deep borehole disposal technology offers a safe, scalable, and cost-effective solution for permanently isolating nuclear waste. With 87 issued patents and a growing global footprint, the company is positioned to lead a market projected to grow from $155 billion to $295 billion by 2050.

Challenges to success

Deep Isolation set an ambitious target – to go public in under six months. By the time CohnReznick began working with them, their APO journey was already in motion, and the company needed to be audit-compliant within three months. With limited internal resources and a complex financial landscape, they needed an advisor that could manage the intricacies of IPO readiness while supporting ongoing operations. “We knew we needed some help…we interviewed a couple different firms and decided that CohnReznick was the best choice because of their expertise in the public company readiness space. And then we started the hard work,” said Baltzer.

Action taken

CohnReznick deployed a cross-functional team to deliver comprehensive support across four key service lines:

• CFO advisory: Led IPO readiness efforts, enhanced accounting operations, and provided hands-on general ledger support.
• Tax: Deployed ASC 740 and 740-10 tax provision expertise to ensure compliance and readiness for public valuation.
• Valuation: Assessed complex financial instruments to support transaction structuring and investor disclosures under ASC 805 for acquired companies.
• Risk advisory: Strengthened internal audit functions and enhanced internal controls to meet public company standards.

CohnReznick provided hands-on project management and technical expertise, guiding Deep Isolation through the merger and IPO process. The team enhanced financial operations, helped ensure regulatory compliance, and supported strategic decision-making throughout the transaction.

Seeing results

Deep Isolation successfully became a publicly reporting company on their timeline. Baltzer noted that having a detail-oriented project manager was essential for tracking all the audit adjustments and understanding how those changes affected each year under audit. “Coordinating these updates across our different entities during the global consolidation process was a critical factor in our success,” he stated. 

CohnReznick’s support enabled Deep Isolation to achieve several notable quantitative and qualitative outcomes. The team accelerated the audit process, delivering PCAOB audits for the 2023 and 2024 fiscal years in just three months – a pace that was 50% faster than the industry norm for first-time audits. Additionally, by filing the Super 8-K by the critical July deadline, CohnReznick helped preserve a $33 million reverse merger transaction, paving the way for Deep Isolation Nuclear, Inc.’s successful public debut. Beyond these metrics, Deep Isolation benefited from seamless IPO execution, a strengthened financial infrastructure, and enhanced investor confidence and market positioning.

The path forward

Deep Isolation’s relationship with CohnReznick will continue as the client transitions into its next phase as a public company. The firm will focus on supporting Deep Isolation’s expanding financial operations, enabling continued compliance with public company standards and providing strategic guidance for future transactions and growth initiatives. As Baltzer states, “Having a long-term relationship, knowing that we’ve got that expanded bench with CohnReznick there to help us as we need it, is important to us,” said Rod Baltzer.

CohnReznick will work closely with Deep Isolation’s newly hired corporate controller to optimize monthly close processes, strengthen internal controls, and address emerging challenges as the company pursues additional acquisitions and market opportunities. The collaboration is designed to be flexible and responsive, scaling services as Deep Isolation’s needs evolve.