Project Omega

About Project Omega

Project Omega is a nuclear technology company focused on recycling the United States' stockpile of spent nuclear fuel (SNF) into valuable energy products. The company was founded in mid-2025 by Dr. Stafford Sheehan, a scientist and serial entrepreneur with a Ph.D. in chemical physics from Yale University. Dr. Sheehan previously co-founded Catalytic Innovations, a metal refining company, and Air Company, which developed synthetic jet fuel from atmospheric carbon dioxide. Headquartered in Newport, Rhode Island, Project Omega emerged from stealth mode in February 2026 with an oversubscribed $12 million seed funding round. The round was led by Starship Ventures and included participation from Mantis Ventures, Buckley Ventures, Decisive Point, and Slow Ventures. The company operates on a capital-efficient model, leveraging national laboratory infrastructure for development rather than building heavy facilities. It has active partnerships with the U.S. Department of Energy's ARPA-E and the Pacific Northwest National Laboratory (PNNL) to validate and demonstrate its recycling pathway. PNNL has already produced a working proof of concept of the company's power system. The company's business model is twofold. The near-term strategy focuses on a product-first approach, transforming extracted radioisotopes from SNF into long-duration, high-density power sources, essentially creating long-life batteries. The primary market for these power sources is the national security sector, with applications for sensors, autonomous systems, and missions in remote or contested environments where reliability is critical. A contract with the Department of War is currently being finalized. The long-term vision is to supply critical materials and fuel for the advanced nuclear reactor industry, aiming to rebuild and close the U.S. nuclear fuel cycle. This addresses the challenge of the more than 95,000 metric tons of SNF currently stored across the U.S., turning a liability into a strategic asset.