Fundraising Fox

Project Omega

7 known investors

Project Omega recycles spent nuclear fuel to rebuild the domestic nuclear fuel cycle, using chemistry processing to remove key isotopes and develop new products for the nuclear economy. It also builds transportable, long-duration nuclear power systems, such as its Zero Day Hybrid Power System, for national security, space, and maritime missions in the United States.

Also known as Omega

Founders & leadership

SS
Staff SheehanCEO

Investors Β· 7

Also in the syndicate Β· 2

Mantis VenturesSlow Ventures

Company profile

researched Aug 2026

Project Omega is a US advanced nuclear recycling company working to rebuild the domestic nuclear fuel cycle end to end by treating spent nuclear fuel as an energy and materials resource rather than a waste liability. The company develops technologies and processes to recycle used nuclear fuel into long-duration, high-density power sources and critical materials for the nuclear industry, and frames its work as a response to electricity demand growth driven by AI buildouts, electrification and advanced manufacturing.

Its near-term product focus is on radiovoltaic power sources that convert isotopes recovered from used nuclear fuel into continuous electricity from natural radioactive decay, delivering years to decades of operation without refueling or maintenance. These are packaged for national-security use in the Zero Day Hybrid Power System, a rugged, transportable energy hub that integrates multiple power inputs with smart load prioritization and generator coordination for forward operating bases, remote sensing, contested infrastructure, space systems and maritime or undersea missions. A second line of work supplies recycled materials and fuel pathways for advanced nuclear reactors, with longer-term ambitions for broader consumer applications once the technology is scaled.

Founding story

Project Omega was founded by Dr. Stafford (Staff) Sheehan in mid-2025 and formally registered in the summer of 2025, after he departed his previous venture, Air Company, at the end of 2024. It is described as his fourth venture; he previously spun anti-corrosion company Catalytic Innovations out of his Yale PhD work and cofounded Air Company, which converts atmospheric carbon dioxide into fuels and consumer products.

Business model

The company plans to generate revenue by recycling spent nuclear fuel into saleable products: long-duration radiovoltaic power sources and nuclear batteries sold to government and defense customers, and critical materials and fuel for advanced nuclear reactors. Early activity is supported by government engagement, including an ARPA-E partnership and a Department of War contract reported as being finalized.

Sales of long-duration nuclear power systems and recycled nuclear materials, alongside government contracts; broader consumer battery applications are described as a later-stage opportunity.

Traction

Core technology demonstrated in a laboratory setting; PNNL testing produced a working proof of concept within months of starting evaluation. The company reports an ARPA-E partnership, a Department of War contract being finalized, and $12 million in seed capital. Reported headcount is about 15.

Latest developments

In February 2026 the company exited stealth with a $12 million seed round led by Starship Ventures, announced its ARPA-E collaboration and PNNL testing results, and reported a Department of War contract being finalized. One roundup source cited a $50 million valuation associated with the round.

β–ΈFull profile β€” market position, technology, go-to-market, geography, history, risks & controversies

Market position

An early-stage entrant in US nuclear fuel recycling, positioned against established reprocessing incumbents such as Orano. Reporting notes that the US has not reprocessed commercial used nuclear fuel for more than 50 years, with roughly 100,000 tonnes stored across more than 100 sites, and that most DOE-supported recycling efforts target fuel for reactors still in basic design.

Rather than producing fuel for reactors still in early design, the company pursues a consumer- and product-oriented approach to nuclear waste recycling, converting power isotopes into long-life batteries and drop-in power sources intended to reach market on a shorter timeline and without requiring infrastructure rebuilds. It also leverages proprietary processes developed in collaboration with national laboratories.

Technology

Project Omega uses proven chemistry processing techniques to recycle spent nuclear fuel and remove key isotopes, then converts those isotopes into radiovoltaic power sources that generate electricity from natural radioactive decay. Pacific Northwest National Laboratory is testing and validating the nuclear batteries using isotopes such as strontium-90 and produced a working proof of concept within months. Initial core technology demonstrations were carried out at the company's Rhode Island laboratory, and the core technology has been demonstrated in a laboratory setting. The Zero Day Hybrid Power System packages these outputs into a transportable, intelligently managed hybrid energy platform.

Go-to-market

Initial go-to-market runs through federal channels: an ARPA-E partnership under the NEWTON programme, testing and validation at Pacific Northwest National Laboratory via DOE's Office of Technology Commercialization, and a Department of War contract reported as being finalized. Products for national security are marketed directly through the company's site, with consumer applications planned after further scaling.

US national security and defense customers, the intelligence community, space and maritime mission operators, and advanced nuclear reactor developers requiring fuel and critical materials; consumer applications are positioned as a future market.

Geography

Headquartered in Newport, Rhode Island, with an in-house laboratory there; some coverage describes the company as Washington, D.C.-based. Testing is conducted at Pacific Northwest National Laboratory, and target missions span US national security, space and maritime domains.

History

Founded in mid-2025 and registered that summer, the company conducted initial core technology demonstrations at its Rhode Island laboratory and operated in stealth until its public debut on 11 February 2026, when it announced an oversubscribed $12 million seed round. In the same period PNNL began testing its nuclear power system and the company disclosed an ARPA-E partnership and a Department of War contract in the process of being finalized.

Risks & controversies

Founder Stafford Sheehan left Air Company at the end of 2024 and two months later sued for wrongful termination, alleging he was fired for protected whistleblower activity; Air Company has disputed the allegations. The business also depends on government contracts, national laboratory access and regulatory pathways for handling spent nuclear fuel, and its technology remains at laboratory proof-of-concept stage.

Compiled by commissioned research from 8 cited public sources β€” announcements, filings, and press listed under research sources below.

Key figures

latest reported
EmployeesFeb 202615 people
HeadcountAug 202619
Seed round amountFeb 2026$12M

Company-reported or press-reported figures, each dated to when it was claimed β€” not independently audited.

Timeline Β· 5

launches, deals, and filings
Feb 2026
Project Omega emerges from stealth with oversubscribed $12M seed round

Project Omega made its public debut on 11 February 2026, announcing an oversubscribed $12 million seed round led by Starship Ventures with participation from Mantis Ventures, Buckley Ventures, Decisive Point and Slow Ventures. Proceeds are earmarked for building infrastructure to recycle spent nuclear fuel into high-density power sources and critical materials, targeting long-duration power for military systems and fuel for advanced reactors.

$12M source β†—

Feb 2026
Department of War contract being finalized

Project Omega has been awarded a U.S. Department of War contract that was being finalized at the time of reporting; the company intends to supply radioactive power sources for government and intelligence-community missions such as sensors and autonomous systems.

source β†—

Feb 2026
PNNL begins testing and evaluation of Project Omega nuclear power system

Pacific Northwest National Laboratory began testing and evaluating the company's novel nuclear power system, producing a working proof of concept within months. PNNL is validating the nuclear batteries using isotopes such as strontium-90, with a team led by senior scientist Dr. David Koch supporting the effort.

source β†—

Feb 2026
Partnership with ARPA-E on spent nuclear fuel recycling

Project Omega is partnering with the U.S. Department of Energy's Advanced Research Projects Agency-Energy (ARPA-E) to demonstrate a safe, commercially viable pathway for recycling used nuclear fuel, tied to ARPA-E's Nuclear Energy Waste Transmutation Optimised Now (NEWTON) programme.

source β†—

Jan 2025
Company founded and registered in Rhode Island

Dr. Stafford Sheehan founded Project Omega in mid-2025 and officially registered the business in the summer of 2025 after departing his previous venture, Air Company, at the end of 2024. Initial core technology demonstrations were conducted at the company's Rhode Island laboratory.

source β†—

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

β–ΈResearch sources Β· 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Project Omega do?
Project Omega recycles spent nuclear fuel into long-duration power sources and critical materials for the US nuclear industry.
Who are Project Omega's investors?
Project Omega's investors include GoAhead Ventures, Mantis Capital, Pace Ventures, Starship Ventures, Virta Ventures.