The Atomic Show

The U.S. military has a strong and growing interest in using small and micro nuclear reactors as a means of reducing logistics challenges and improving operational resilience. They like nuclear reactors for their ability to operate independently of the grid for years without needing any new fuel. Almost as important is their ability to be designed to retain byproducts and reduce heat signatures for improved stealth.

Dr. Jeff Waksman Is the U.S. Army’s go-to guy for pioneering nuclear energy projects. Though no military-related project can be completed by a single person, program success often rests on the effective leadership provided by a singularly skilled leader who combines organization, inspiration and deep knowledge of how to get things done in a purposely hierarchical system.

Before his current role for the Army, Waksman led Project Pele – the military’s first micro-reactor project in 50+ years – for the Department of Defense’s Strategic Capabilities Office. He did well enough at that assignment to have been selected to lead a more expansive program to finally deliver nuclear fission capabilities to bases and units that need clean, reliable power that comes with a low logistics burden.

Fission’s characteristics are nothing new and the military’s interest dates to the earliest days of nuclear energy. The political, environmental and strategic situation has changed enough in the 50 years since the Army’s Nuclear Power development program was effectively cancelled to stimulate new efforts to address the economic and technical challenges that were never solved during the 1960s and 70s.

Waksman’s current role has the mouthful title of Principal Deputy Assistant Secretary of the Army (PDASA) for Installations, Energy and Environment (IE&E). Though only one of his responsibilities, he is the Army’s point person for a subsequent reactor development program called Project Janus.

Dr. Waksman joined me on Atomic Show #347 to discuss the lessons taught by Project Pele and to provide insights on how those lessons are being incorporated into subsequent programs, both civilian and military. We covered a variety of topics, including:

Reasons why he was picked to lead Project Pele

Direction provided to the Department of Defense’s Strategic Capabilities Office regarding program outcomes

Focus on building systems that work in the real world instead of just more models

Challenges of fitting inside tightly constrained boundaries (C-17 transport plane)

Limiting components – not surprisingly, it was the heat exchanger that transferred reactor heat from the coolant gas to the power conversion system

Importance of balance of plant compared to reactor

Streamlining Department of Energy approval process

Economic value of competition

Economic trade-offs with the potential to make TRISO a more economic fuel than other options

Project Pele’s influence on Reactor Pilot Program

Project Janus goals and status

Stretch goal timeline that includes the first operating reactor supplying a military base by the end of 2028

Expansion of the project beyond the Army to the Air Force and possibly the Navy

Unquantified description of the possible magnitude of military reactor program

Desire for military reactor program to stimulate a larger commercial reactor market

I learned a lot from the show. Dr. Waksman shares valuable experience, including ways to avoid some of the bruises that came with leading the first-of-a-kind project for a modern transportable nuclear reactor and the U.S.’s first nuclear project development project in decades. I hope this show will influence those who follow so that they can make their own mistakes instead of repeating those that have already been made and documented.

Shine Technologies is a unique nuclear fusion company.

The conventional path for nuclear fusion projects is to raise and spend billions of dollars and decades of research and development in efforts to successfully find a path over, around or through the technical barriers that have prevented nuclear fusion from becoming a large scale energy production source.

Until relatively recently, that path was almost completely dependent on government grants. In cases like the ITER – International Thermonuclear Experimental Reactor – the effort has involved tens of billions of dollars (current estimate is $25 B), thousands of scientists, engineers, constructors and technicians and a construction schedule that stretches out over 29 years. The funding partnership includes six individual countries plus the European Union, which is supplying approximately 45% of the budget. Parts and materials for the project are being supplied by 35 different countries.

Greg Piefer, Shine Technologies CEO and Founder, chose a different path. He is a technical expert and fusion researcher who was inspired by the same dreams of unlimited fusion energy that drive others to study and work in the field, but he also has a commercial side that knows that investors, even governments, do not have the patience and the depth of resources needed to undertake and successfully complete projects whose characteristics are similar to ITER and don’t produce profits along the way.

He knew several known ways to stimulate and control a nuclear fusion reaction. The equipment used to produce those reactions doesn’t work fast enough to produce the energy needed to sustain the reaction and have enough left over to capture and sell to a commercial energy market. They are useful devices for teaching researchers about fusion and they are precise and reliable neutron generators for valuable tasks like remote logging of the materials in oil and gas wells.

Piefer’s valuable insight was that neutrons from fusion had special characteristics that could produce commercial value long before the equipment could produce energy at a competitive cost. He and the team that he inspired became convinced that they could create a sustainable path to commercial fusion energy by building, using and refining equipment and techniques that use fusion to produce neutrons for successively larger markets that require ever lower unit costs.

They established a four phase development program that remains their guiding development strategy. The first phase sells precise testing and measuring services that use Shine neutron generators where the neutrons supply their material penetrating power. Unlike the gamma rays used in conventional radiography – X-rays for materials and equipment – neutrons penetrate dense materials and are scattered by light elements. The critical nature of the components that benefit from neutron imaging leads customers to pay extraordinary prices for Shine’s specialized services. The neutrons produced by Shine’s imaging fusion devices sell for $100,000 – $1,000,000 per kilowatt-hour of energy released – which is a calculated metric derived from fusion reactions per second per dollar. (Those numbers do not have any misplaced zeros.)

The second phase, with a far larger Total Addressable Market (TAM), is medical radioisotope production. Using a process of continuous refinement and practice, Shine has been able to improve its devices to the point where they can profitably enter the market with neutrons that cost the equivalent of $100 per kWh (a factor of 1000 improvement over the first phase) that can be reduced to $20/kWh as the process is scaled up using their NRC licensed Chrysalis facility. That facility, located in Janesville, WI, was carefully sited next door to a regional airport that enables Shine’s medical isotopes to be rapidly delivered throughout the United States and competitively delivered almost anywhere.

Chrysalis is expected to be completed within the next two years. As Piefer describes during our conversation, it will be the highest capacity isotope production facility in the world. Piefer also described the invested effort that gives Shine the ability to produce isotopes that meet the stringent purity requirements for medical applications. The company’s radio chemistry skills are being exercised every day as they are already shipping isotopes created in a smaller facility.

The third step, which is still in the R&D phase is to use more capable Shine fusion devices that can produce neutrons for about $1/kWh to help recycle used nuclear fuel. During the conversation, we spent quite a bit of time talking about how this application will work. There are some nuances that are worth hearing.

The fourth step in the plan is to produce clean energy with a target price for neutrons of about $0.01-$0.02/kWh. That is the dream and the application that unlocks a TAM measured in the trillions of dollars.

Here is the company’s distillation of their four phase plan:

The framework: value per kilowatt-hour of fusion output
SHINE force-ranks fusion markets by unit economics, not market size — starting with the customers who pay the most per unit of fusion output, and using each market as commercial practice to drive costs down for the next. The metric: fusion reactions per second per dollar, a proxy for cost per kilowatt-hour.
The cost curve, by the numbers

>$1,000,000 per kWh — what one deployed SHINE fusion system is worth to its customer: it scans every nuclear fuel rod the customer manufactures, and hasn’t skipped a beat since deployment.

~$100,000 per kWh — typical value in the testing market (e.g., neutron imaging of F-35 turbine blade cooling channels that only neutrons can see).

~$100 per kWh — where SHINE had to get costs to make medical isotope production work.

~$20 per kWh — expected for Chrysalis at full capacity, coming online in the next 18–24 months.

~$1 per kWh — the target for spent fuel recycling, feasible because the business stacks four revenue streams: recycling service fees, recycled uranium/plutonium fuel, separated isotopes, and electricity sold at market rates.

10–20¢ per kWh — typical value of electricity, the final market. From recycling, SHINE estimates roughly a factor of 10 remains to put pure fusion energy economically on the grid.

Disclosure: Nucleation Capital, the sponsor of Atomic Insights, is an investor in Shine Technologies. We believe their vision and their execution elevates their commercial prospects above a number of companies whose primary selling point is an attractive, but distant dream.

Deployable Energy is a young company with a guiding principle. They believe that nuclear energy should be a product, not a project. Founded in 2025 after a period of intensive study and design work, the company has developed a product branded as the Unity Nuclear Battery (UNB).

It’s a 1 MWe (3 MWth) micro reactor whose general features arise from a unique combination of nuclear fuel, reactor coolant and neutron moderator. The choices the company made arise from a desire to move fast using materials that are affordable and available for use today. That criteria requires the materials to be in commercial service from suppliers that can provide a price list or firm quote given delivery terms and conditions. Where appropriate, it also means that the materials are qualified for use in nuclear reactors and for exposure to neutron and gamma flux.

Unity Nuclear Battery (UNB) Steps of Utah Capitol Salt Lake City

UNB designers determined that they would use regular fuel – uranium enriched to < 5% U-235 and in the form of uranium dioxide (UO2) in sintered pellets mass manufactured by an established vendor. Zirconium alloy tubes separate the fuel from the coolant and moderator and retain fission products that might be released by the ceramic UO2 pellets during and after operation. The heat transfer fluid, more frequently referred to as reactor coolant, is inert helium gas that is blown through the core at high velocity and a pressure of approximately 50 bar (~725 psi). The neutron moderator is water at atmospheric pressure and a temperature that is roughly equal to residential hot water.

The reactor vessel that is needed to contain the chosen combination of functional core materials is small enough and light enough to be transported in the back of a short-bed American pick-up truck with a crew cab.

A full nuclear heat source system with transportation level shielding will fit into a 20 foot shipping container with a mass of about 20 tons. The additional shielding and physical protection layers added on site will add another 40 tons to the nuclear heat source portion of the system.

The system will be shielded with sufficient materials to reduce neutron and gamma radiation to below regulatory standards both during and after operation.

The pressurized helium will transfer the heat generated in the reactor to heat exchanger(s) where either water or supercritical CO2 will pick up the helium’s heat for either steam or hot sCO2 production. Steam or sCO2 will go to the balance of plant, which will be housed in a 40 foot transportation container. Depending on application, hot fluids can be used in industrial applications or used to turn turbine generators. The ultimate heat sink is the atmosphere with air coolers mounted on top of the balance of plant container. Many of Deployable Energy’s target customers and applications value low water use.

Unity Battery conceptual layout

Knowing that permissions required for construction, manufacturing, transportation and operating are key milestones, Deployable Energy began its pre-application engagement with the NRC in October 2025, within months of its corporate founding.

The company also began engaging with the Department of Energy regarding its initial demonstration unit. It wasn’t ready to compete for the Reactor Pilot Program, but it was one of four companies selected for the Nuclear Energy Launch Pad, which is the DOE’s follow-on to the foundational Reactor Pilot Program and Fuel Line Pilot Program. Deployable Energy plans to catch up to the Reactor Pilot Program participants and achieve initial criticality by July 4, 2026.

To learn more about Deployable Energy and their Unity Nuclear Battery, I talked with Bobby Gallagher, Deployable Energy’s CEO and Chief Technical Officer. Bobby’s background in the Australian military, oil and gas, shipbuilding, offshore development and successful technology start-up founder might seem to be a rather odd path towards designing a product using a nuclear fission heat source, but he explains how he arrived at his current position rather well.

During our discussion, Bobby described the decision criteria and process used to determine the UNB’s final combination of fuel, heat transfer fluid and moderator. He provided some of the historical background from other nuclear reactor designs that inspired the decisions.

But more of our conversation’s content was on the company’s choices related to manufacturing and deployment. We talked about Deployable Energy’s choice to put the center of its operations in Houston, Texas where the local manufacturing base for vessels, tanks, valves, tubes, skids, and other key components is well established and has been honed and expanded during the past several decades of world-leading “unconventional” oil and gas development.

Houston is an energy town with a deep understanding of the value and risks associated with providing power to the population. The city’s residents know how to manufacture, build and heavy equipment and they know how to create and finance innovative companies.

We had a fascinating conversation. I’m confident that you will learn something by listening to the show at least once. We no longer accept comments here for a number of reasons, but you can ask questions and make comments to @atomicrod on X.

There are few industries in the world that have a greater need for skilled communications than the nuclear industry. It’s a challenging technology to understand and to explain to those who are not really interested in the nitty gritty details. There is a significant portion of the industry that believes in silently going about its tasks, partly because there are so many parts of the field that are classified. The influence of the Silent Service is deep and wide within the nuclear sector.

There is a growing group that has a different point of view. They bring originality and experiences from outside of nuclear and are not constrained by the traditional tactics. Those newcomers aren’t starting from scratch, however. There are some experienced communicators who also have valuable thoughts and ideas that they are willing to share.

Jarret Adams, the founder of Full On Communications, has been professionally explaining the nuclear industry for more than two decades. He has experienced and supported the ups while also figuring out how to respond and adapt to the downs.

He started his career as a business journalist. He learned about the nuclear industry during a stint with the Nuclear Energy Institute. While there, he learned the value and the promise of nuclear energy and chose to realign his career to support and defend what was, at the time, a bruised sector with exciting potential for growth and for making positive contributions to humanity.

He took advantage of his facility with the French language as he moved over to Areva, which had ambitious plans for international growth during the first phase of the nuclear renaissance that continues today.

As prospects for immediate growth diminished as an extended period of low cost natural gas was combined with strongly negative public perceptions caused by the widely publicized damage at TEPCO’s Fukushima Daiichi nuclear plant, Jarret departed from Areva to become the Communications Director in the UAE for an international public relations firm. He was part of the program that enabled the UAE to expeditiously create a capable nuclear industry where there wasn’t one before.

Following his time in the UAE, Jarret founded Full On Communications to provide services to a broader and more diverse set of customers in the nuclear industry.

We discussed the importance of story telling, the value of purchased media time to enable companies to tell their own stories and the importance of techniques like press releases to keep the public, the press and investors informed about both progress and hurdles.

Full On Communications recently celebrated its 10th Anniversary. Jarret and his team have contributed to many of the initiatives and actions that have combined to dramatically change the future prospects for nuclear energy development. They look forward to many more years of growth as the next stage of the nuclear renaissance continues to emerge.

Aalo Atomics is a three year old company that is focused on designing, manufacturing and deploying nuclear reactors. Their stated goal is to achieve an electricity production cost of less than $0.03 (3 cents) per kilowatt hour.

It’s moving fast. It built a 40,000 ft² pilot scale manufacturing plant in Austin, TX in just one year.

It plans to achieve initial criticality for Aalo-X, its first commercial scale reactor, in July 2026. That’s less than four months from now. The facility at the Idaho National Laboratory is completed, the reactor and primary systems have been installed. The reactor fuel is being manufactured by Global Nuclear Fuels in Wilmington, NC.

The few remaining steps include the Department of Energy’s issuance of the final Documented Safety Analysis, fuel receipt and fuel loading.

For many inside and outside the nuclear industry, Aalo’s pace seems to be almost impossible. Even for those who believe it is possible for nuclear systems to be designed, reviewed, licensed and constructed far faster than ever before, the accomplishments approach the incredible stage.

For Atomic Show #343, Yasir Arafat, Aalo’s co-founder and Chief Technical Officer enthusiastically shares his company’s story. He tells us how the company and its products were designed and manufactured with efficiency, ease and availability at the center of decision making.

The company also decided at a very early stage that it would do everything in its power to manufacture and assemble its machines, taking control of its own destiny wherever possible. He bragged – rightfully so – about the company’s ability to attract exceptional employees, stating their belief that a superstar can be as much as 10 times more productive than an average employee.

He described how the company has avoided adding management layers, saying that the team they have assembled does not need anyone to manage their performance.

He emphasized that Aalo had assembled a strong network of suppliers with shared motives that help to make the vision achievable. Raw materials, sensors, wiring harnesses and many other parts that aren’t at the top of mind are best purchased rather than built in house.

During the discussion, Yasir told stories from his 15-year career as a reactor design engineer at Westinghouse and Idaho National Laboratory that helped to shape his technical and managerial decision making. It’s evident that he has done a lot of personal “lesson learning” and is now applying those learnings with a high performing team.

Aalo’s inspiring vision and milestone execution track record have attracted a strong and growing number of risk-accepting investors. Nucleation Capital, the parent company of Atomic Insights and the Atomic Show podcast, has been one of those investors from a very early stage in the company.