Project Omega emerges from stealth mode with plans to recycle U.S. spent fuel

Nuclear technology start-up Project Omega announced on February 11 that it has emerged from stealth mode with hopes of processing and recycling spent nuclear fuel into "long-duration, high-density power sources and critical materials for the nuclear industry."

The company has raised $12 million in an oversubscribed seed round led by Starship Ventures, with participation from Mantis Ventures, Buckley Ventures, Decisive Point, Slow Ventures, and several others.

Project Omega is led by founder and CEO Stafford Sheehan, a cofounder and former chief technology officer of Air Company, which turned atmospheric carbon dioxide into ethanol-based products, including jet fuel and vodka.

The work so far: Project Omega said it is partnering with the Department of Energy's Advanced Research Projects Agency-Energy (ARPA-E) to demonstrate a safe, commercially viable pathway to spent nuclear fuel recycling while creating a long-lasting energy source.

According to a report by Forbes, Project Omega also has been awarded a Department of Defense contract that is currently being finalized as the company seeks to provide radioisotope generators to the government and the intelligence community.

Project Omega said it has produced a working proof of concept with Pacific Northwest National Laboratory, which recently began the testing and evaluation of the company's nuclear power system. David Koch, a PNNL materials scientist, is said to be leading a team looking at the use of Project Omega's power system in space applications.

Quotables: "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. We are now building the infrastructure to unleash this energy source," said Sheehan.

PNNL's Koch added, "Long-duration, resilient energy sources will be critical for continuing bold scientific discovery across our solar system. This public and private partnership with Project Omega addresses issues of national importance. We hope to demonstrate the use of spent nuclear fuel in the nuclear power systems critical to inspiring the next generation of scientists."