Geneva, Switzerland, March 2025 - Craig Kelly has joined Transmutex as Chief Financial Officer, bringing with him over three decades of experience in corporate finance, structured investments, and financial strategy.

Geneva-based startup Transmutex has received more than $4.2 million from the U.S. Department of Energy Advanced Research Projects Agency-Energy as part of the NEWTON Program. The funds will finance a project in Los Alamos aiming to enable nuclear waste transmutation to transform long-lived radioactive elements into shorter-lived ones, reducing their hazardous lifetime from 1 million years to a few hundred years.The U.S. Department of Energy's Advanced Research Projects Agency-Energy (ARPA-E) has allocated $40 million to fund 11 projects focused on developing transmutation technologies aimed at minimizing the impact of used nuclear fuel (UNF) in permanent storage. Transmutation involves changing an isotope into a different isotope or element through a nuclear reaction. Under the Nuclear Energy Waste Transmutation Optimized Now (NEWTON) program, ARPA-E will support efforts to create transmutation technologies that could greatly reduce the mass, volume, activity, and effective half-life of the current stockpile of commercial UNF, potentially transforming the disposal of UNF from a long-term, intergenerational challenge into a more immediate, intragenerational issue