A multi-disk spinning disk assembly for atomization and encapsulation applications. A number of disks 17a and spacers (33, 40) are stacked to form a disk stack 17 having a feed well 31 in the center core of the stack. The fluid to be atomized or encapsulated is delivered to the feed well 31. The fluid then flows into spacer channels (37, 41) within or on the surface of the spacers. The channels (37, 41) communicate the fluid toward the outer edges of the disks 17a. The disk surface past the spacers (33, 40) can have various configurations, such as teeth, weirs, or a bigger or smaller diameter, as desired for particular atomization or encapsulation characteristics.