SHINE Technologies develops a fusion-based approach to produce medical isotopes such as molybdenum-99, and also plans capability for iodine-131 and xenon-133. The company uses a liquid uranium target that is recycled, which it says reduces radioactive waste volume and operating costs compared with reactor-based production. SHINE has collaborated with U.S. national laboratories for more than 15 years and received technical support and funding from the DOE NNSA. Its commercial Chrysalis facility in Janesville, Wisconsin, is reported to be 75% complete and is positioned to be the world’s largest medical isotope production facility when operational. The recently announced conditional loan commitment from the DOE Office of Energy Dominance Financing is intended to help finish the project and enable market entry. Company leadership and government officials emphasize the project's role in onshoring Mo-99 supply, improving supply-chain reliability, and advancing nonproliferation objectives.

Total raised

$827M

Funding rounds

10

Latest round

Equity

Latest activity

Aug 2026