Fail safe surface controlled subsurface safety valve for use in a well

The present invention is a surface controlled subsurface safety valve (SCSSV) for use in a well, preferably a hydrocarbon producing well. The SCSSV comprises a valve body having a longitudinal bore for fluid to flow through, a bore closure assembly, a pressure balanced drive assembly, and a fail safe assembly. The bore closure assembly is positioned and normally biased to close the bore to fluid flow. The drive assembly is coupled to the bore closure assembly for driving the bore closure assembly to an open position. The fail safe assembly is positioned and configured to hold the bore closure assembly in the open position in response to a hold signal and to release the valve to return to the safe, closed position upon interruption of the hold signal.