A new nuclear technology company, Project Omega, said this week it will focus on developing nuclear fuel recycling technology.
The Rhode Island-based private company said it will develop and deploy “cutting edge technologies and processes to recycle spent nuclear fuel into long-duration, high-density power sources, and critical materials for the nuclear industry,” according to the company’s Wednesday press release.
In the United States, nuclear waste has been treated as a liability and is underutilized, according to the company release.
“Recycled nuclear fuel can be the foundation of energy independence by delivering decades-long power for military systems, and supplying fuel for advanced nuclear reactors,” for projects like data centers, Project Omega CEO and founder Stafford Sheehan said. Sheehan’s LinkedIn post describes him as a “scientist and entrepreneur in the renewables & environment industry.”
Another prominent member of the startup’s leadership team is former Nuclear Regulatory Commission Chair Chris Hanson. According to his LinkedIn account, Hanson is the head of implementation at Project Omega and has been in that position since August 2025.
“Most folks know how enthusiastic I am about the use of radiological materials, radioactive sources and radioisotopes for healthcare, agriculture, industry and defense. That’s why I’m thrilled to be part of the leadership team at Project Omega with Stafford Sheehan at the helm,” Hanson said in a Wednesday LinkedIn post.
“We are leading the way in recovering valuable materials to strengthen energy and national security,” Hanson finished.
Project Omega has already partnered with the Department of Energy’s (DOE) Advanced Research Projects Agency-Energy (ARPA-E) to demonstrate a commercially viable process for spent nuclear fuel recycling.
DOE’s Pacific Northwest National Laboratory (PNNL) began the testing and evaluation of Project Omega’s novel nuclear power system, according to the release. A team led by David Koch, a PNNL senior scientist, is looking at the use of Project Omega’s power system to be used for space purposes.
Project Omega raised an oversubscribed $12 million seed round led by Starship Ventures, followed by contributions from Mantis Ventures, Buckley Ventures, Decisive Point, Slow Ventures and several others, according to its Wednesday press release.
Recently, DOE awarded $19 million to five companies to research and develop fuel recycling technology for spent nuclear fuel.
According to a Wednesday Forbes article, the company is also finalizing a contract with the Department of Defense to provide “radioactive power sources” to the government and the intelligence community.