
Transatomic Power

Transatomic Power was an American company that designed Generation IV nuclear reactors based on molten salt reactor (MSR) technology.
MIT alumni Dr. Leslie Dewan and Mark Massie founded Transatomic Power in 2011, and its board directors included E Ink Corporation co-founder Russ Wilcox. Among its backers were the venture capital outfit Founders Fund, of which Peter Thiel is a partner. In 2013, the U.S. Department of Energy awarded Transatomic first prize in the ARPA-E Future Energy innovation contest.
In 2018 the company announced that it would be winding down and open source its intellectual property. The company discovered that in 2016 it had made errors in its early analysis and realized that the design couldn't consume nuclear waste. Transatomic Power ceased operation on September 25, 2018.
Reactor concept.
Transatomic initial concept was that of a "Waste Annihilating Molten Salt Reactor" (WAMSR) designed to digest spent nuclear fuel. 
The concept was based on the Molten-Salt Reactor Experiment reactor that ran at Oak Ridge National Laboratory (ORNL) from 1964 to 1969. 
It was open to the use of thorium or uranium as a fuel in its reactors.
This design was later updated and corrected, and the claim that the reactor is able to use nuclear waste as fuel was dropped.
The latest design is based on a low pressure, high temperature molten salt reactor. 
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