Atomic Alchemy is developing a small fast reactor specifically designed for medical and industrial isotope production — a unique SMR application targeting a multi-billion dollar market currently dominated by aging research reactors. The company was selected for the DOE Reactor Pilot Programme in August 2025 targeting criticality by July 4, 2026. Atomic Alchemy's reactor produces radioisotopes used in cancer treatment, cardiac imaging, and industrial non-destructive testing.