JANESVILLE, Wis., Sept. 21, 2021 – 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."
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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.