JANESVILLE, Wis.–(BUSINESS WIRE)–SHINE Medical Technologies LLC today announced that the company has changed its name to SHINE Technologies LLC.
SHINE’s new name highlights the company’s core technological competencies, skilled team and focus as a next-generation nuclear technology company. SHINE is pursuing a four-phase strategy for the development of nuclear fusion technology to achieve its ultimate goal: producing fusion energy. SHINE’s technology is currently being applied to advanced industrial inspection services and medical isotope production, phases I and II of the company’s four-phase approach, respectively.
“Our long-term goal is to create and deploy systems that produce clean fusion energy, and we are continuing to grow towards that goal by commercializing more near-term applications of fusion,” said Greg Piefer, SHINE’s founder and CEO. “In addition, our merger with Phoenix earlier this year strengthened our position by enabling us to integrate a key technological capability that supports our near- and long-term plans.”
To hear more from Greg Piefer about SHINE’s name change, please follow this link to a video on the company’s new website.
Phoenix commercialized phase I, advanced industrial inspection services, over a decade ago by utilizing its fusion-based technology for nondestructive testing. These applications take neutron images or perform other assay measurements of modern materials in detail, ensuring that the quality and safety needs of clients in the aerospace, defense and energy industries are met.
SHINE’s phase II involves the application of fusion to the production of medical isotopes. The company expects to produce diagnostic isotopes for heart disease and other applications and is producing therapeutic isotopes for certain cancers. SHINE anticipates producing these isotopes at commercial scale at facilities on its campus in Janesville, Wis.
“The goal of each phase of our approach is to create social and economic value while building additional capacity and capability, and deepening our scientific understanding of fusion technology as we progress to clean energy production,” Piefer said.
SHINE’s next step will be to explore the use of its technology to recycle nuclear waste in phase III. Carbon-free nuclear power currently faces a major political obstacle because it produces radioactive waste, some of which can last for millions of years. If successful, SHINE’s phase III is expected to help mitigate this problem by recycling a portion of this waste and using fusion to shorten the half-life on long-lived waste forms. Importantly, SHINE’s work in this phase could help fission power become a more sustainable form of carbon-free energy.
The goal of phase IV is to generate clean, abundant and affordable fusion energy. SHINE believes its achievement of this goal will be built on the strength of its skilled team, including their experience with challenging nuclear technology projects, the breadth of the company’s unique technological capabilities, and the experience expected to be gained from operating many powerful fusion systems in the field during phase III.
“We are excited that our new name more clearly reflects our core technological competencies, strong team and long-term ambitions,” Piefer said. “SHINE was founded on differentiated technology, and a unique, lean and phased approach to developing nuclear technology. It’s great to be telling the world more about the company we’ve built, with an updated brand that reflects it.”
About SHINE Technologies
SHINE is a nuclear technology company committed to improving the lives of people and the planet. The company is focusing its fusion-based technology initially on advanced industrial imaging and the production of diagnostic and therapeutic isotopes. These isotopes include molybdenum-99, a diagnostic isotope used to diagnose heart disease, cancer, and other conditions, and lutetium-177, a therapeutic isotope that may improve the outcome of some cancer patients when linked to a cell-targeting molecule. SHINE has a long-term strategy to solve some of humanity’s biggest problems, including nuclear waste recycling and the production of clean fusion energy, in addition to advanced industrial imaging and medical isotopes, by pursuing our vision for progressively broad and impactful uses of fusion technology. For more information about SHINE, please visit our website at https://www.shinetechnologies.com.