SHINE, Phoenix merger focused on advancing fusion technology
20.4.2021 21:00:00 EEST | Business Wire | Press release
SHINE Medical Technologies LLC and Phoenix LLC today announced that the companies have completed a merger under which Phoenix has become a wholly owned subsidiary of SHINE.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210420006038/en/
Greg Piefer, CEO of SHINE (left), talks with Evan Sengbusch, general manager of SHINE's Phoenix division, and Ross Radel, chief technology officer and chief operating officer of the Phoenix division, at the Phoenix headquarters and manufacturing center in Fitchburg, Wis., on April 16, 2021. (Photo: SHINE Medical Technologies)
SHINE is a next-generation nuclear technology company focused on unlocking the power of fusion technologies to benefit the planet and humankind. The company’s goal is to deliver on the long-term promise of clean fusion energy by advancing fusion technology starting with the commercialization of medical isotopes. Phoenix designs and manufactures the world’s strongest steady-state fusion neutron generators used for advanced industrial imaging and other applications for improving safety and quality in the aerospace, defense, medical and energy sectors.
The combined company represents the first two phases of the long-term vision of Greg Piefer, the founder of both companies, for producing clean energy from fusion (see “SHINE’s Four-Phase Progression to Clean Energy Production” below). The goal of each phase of SHINE’s approach is to build additional capacity and capability, and deepen scientific understanding of fusion technology as it progresses to clean fusion energy production. Each step through the four phases is expected to provide further proof of the technology’s robustness, a foundation for ongoing innovation in the next phase and the creation of value for the company, its customers, and shareholders.
“SHINE and Phoenix have shared a common long-term vision and operated in close collaboration during the past 11 years, but it’s always been inefficient to operate as separate companies,” said Greg Piefer, CEO of SHINE. “Coming together will enable us to advance fusion technology more quickly by aligning interests and combining complementary core competencies. Through the four phases, we are taking a deliberate approach to building a company that can ultimately deliver cost-effective, clean fusion energy to billions, while serving important near-term market needs like advanced industrial imaging and medical isotopes, along the way.” For a video of additional comments from Greg Piefer, please click here (:46 broadcast-quality available for the media).
Phoenix has developed a strong track record of commercialization and revenue generation by applying its fusion-based technology to applications such as advanced industrial imaging, which can image modern materials in great detail, addressing quality assurance and safety needs in the aerospace, defense, energy, and other industries. These applications are part of Phase 1 of the four-phase approach.
The second phase of the approach involves applications of nuclear fusion to replace nuclear reactors used in the production of life-saving medical isotopes for diagnostic imaging, like molybdenum-99 (Mo-99), and with potential use as cancer therapeutics like lutetium-177 (Lu-177). This month, SHINE kicked off Phase 2 commercialization when it began producing Lu-177. In 2022, SHINE expects to commence production of up to 20 million doses of Mo-99 per year in its fusion-powered production facility in Janesville, Wis. The facility is expected to be the world’s largest-capacity medical isotope production plant.
“This merger is a natural evolution of our strong existing partnership with SHINE, rooted in our common origin and shared mission,” said Evan Sengbusch, general manager of SHINE’s Phoenix division. “Phoenix’s track record of successfully deploying our core neutron generation technology across multiple demanding market sectors has provided important commercial validation and risk reduction for critical technologies that underpin execution in Phase 2. We are excited to join with SHINE and leverage our complementary nuclear capabilities to advance towards clean fusion energy production.” For a video of additional comments from Evan Sengbusch, please click here (1:24 broadcast-quality available for the media).
Phoenix was founded in 2005 by Piefer to develop and commercialize a unique technology that generated neutrons through fusion. He spun SHINE out of Phoenix in 2010 to apply that technology to medical isotope production and other applications through the four-phase approach.
Evercore Group L.L.C. served as exclusive financial advisor to SHINE. Foley & Lardner served as lead legal counsel to SHINE. SVB Leerink served as exclusive financial advisor to Phoenix. Godfrey & Kahn S.C. served as lead legal counsel to Phoenix.
SHINE’s Four-Phase Progression to Clean Energy Production
- Phase 1: Advanced industrial imaging – uses neutrons for detailed imaging to improve the quality and safety of products in the aerospace, defense, energy, and other industries.
- Phase 2: Medical isotopes (small-scale transmutation) – uses fusion technology to produce medical isotopes that diagnose and treat heart disease, cancer and a wide range of diseases
- Phase 3: Nuclear waste recycling (large-scale transmutation) – scale up of phase 2 processing and fusion technology to recycle nuclear waste
- Phase 4: Fusion Energy – establishes nuclear fusion as a technically and commercially viable global source of energy
About SHINE Medical 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 holds the promise of significantly improving the outcome of some cancer patients. 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 www.shinemed.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210420006038/en/
Contact information
MALLORY PROUTY
CORPORATE COMMUNICATIONS PROJECT MANAGER, MBA
P: 608-530-5606 | M: 630-945-2379
mallory.prouty@shinemed.com
ROD HISE
DIRECTOR OF STRATEGIC COMMUNICATIONS
P 608-530-5659 | M 608-770-7850
rod.hise@shinemed.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Yamaha to Acquire Disguise, Expanding Its Capabilities in Integrated Audio, Video, Lighting and Media13.11.2026 09:00:00 EET | Press release
Yamaha Corporation today announced an agreement to acquire Disguise Technologies Limited (“Disguise”), a London-based provider of software and media server technologies for live and immersive experiences. Yamaha will acquire the company by purchasing all shares in its parent, Butterfly Topco Limited. The acquisition will expand Yamaha’s capabilities beyond audio into integrated audio, video, lighting and media solutions, in line with its strategy to expand beyond hardware into software and services. By combining Yamaha’s audio expertise and global reach with Disguise’s software, technologies and worldwide partner network, the companies will be better positioned to deliver immersive experiences across live entertainment, sports and other venues. Disguise’s technology powers live and immersive experiences worldwide, including tours by Beyoncé and Taylor Swift and venues such as New York’s Radio City Music Hall and Intuit Dome in California. “People are seeking richer and more immersive e
Mexico Becomes the First Market Worldwide to Receive Approval for Galderma’s Restylane ® Shaype™ for Both Chin and Its First Jawline Indication13.11.2026 08:00:00 EET | Press release
Galderma (SIX: GALD), the pure-play dermatology category leader, today announced that Restylane Shaype has been approved for temporary augmentation in the chin area and improvement of jawline definition in Mexico.1 This is the product’s first approval globally for the jawline, and further expands its availability for chin augmentation, where it is already approved across various markets globally including Europe, Brazil, Canada and Thailand. Restylane Shaype has been purposefully developed as a firmer gel to deliver a unique bone-mimicking effect and enable natural-looking structural enhancement without surgery.3-6 The lower face plays a pivotal role in overall facial balance, influencing proportions and profile,4 with recent market research conducted by Galderma finding that the chin is the third most treated area in existing HA injectable users.7 In the chin, genetic factors and age-related changes can lead to reduced definition and poor projection.4,8 In the jawline, factors such as
vVARDIS Announces Pricing of Initial Public Offering13.11.2026 07:02:00 EET | Press release
vVARDIS Holding AG (“vVARDIS”), a Swiss healthcare company operating in the dental med-tech sector, today announced the pricing of its initial public offering of 9,722,223 Class A ordinary shares at a public offering price of $18.00 per share. In connection with the offering, vVARDIS has granted the underwriters a 30-day option to purchase up to an additional 1,458,333 Class A ordinary shares at the initial public offering price to cover over-allotments. The Class A ordinary shares are expected to begin trading on the New York Stock Exchange on November 13, 2026 under the symbol “VVVV.” The closing of the offering is expected to occur on or about November 16, 2026 subject to the satisfaction of customary closing conditions. Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint bookrunning managers for the offering, with William Blair, UBS Investment Bank and Deutsche Bank Securities acting as bookrunners. A registration statement on Form F-1 relating to the offering has been file
Empire State Building Observation Deck to Debut ‘Olympus Awaits,’ An Immersive ‘Percy Jackson and the Olympians’ Takeover in the Heart of NYC, On Display from Nov. 16 – Dec. 4*13.11.2026 00:07:00 EET | Press release
The Empire State Building (ESB) is the gateway to Mount Olympus in Percy Jackson’s world, and now fans can experience the magic like never before. On Nov. 16, the Empire State Building Observation Deck (ESBOD) will unveil “Olympus Awaits,” a multi-level “Percy Jackson and the Olympians” takeover, in partnership with Disney+. The immersive takeover – included with every Observation Deck ticket – will feature an epic Throne Room, interactive photo opportunities, surprise giveaways, ESB x “Percy Jackson” merch, and more, available through Dec. 4, 2026.* This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261112442266/en/ Empire State Building Observation Deck to Debut ‘Olympus Awaits,’ An Immersive ‘Percy Jackson and the Olympians’ Takeover in the Heart of NYC, On Display from Nov. 16 – Dec. 4* “This immersive NYC experience brings Percy Jackson’s adventures off the screen and into the ‘World’s Most Famous Building,’ where guests ca
Clene Nanomedicine Partners with Veristat to Reduce Biostatistical Output Time by 80% for ALS New Drug Application12.11.2026 19:09:00 EET | Press release
VeristatTM, a global clinical research organization (CRO) and consultancy specializing in complex studies, announced that it has partnered with Clene Nanomedicine to cut the time to deliver biostatistical outputs for a pivotal ALS drug application submission by 80%. Veristat reduced the time from study data to validated tables, listings and figures (TLFs) from up to six weeks to just one week. Clene, a late-stage biotech company, leveraged Veristat’s recently launched InStat™ platform, the industry’s first zero-code, fully automated solution to accelerate clinical trial processes. Biostatistical TLFs sit on the critical path for submissions, yet most sponsors rely on antiquated processes that involve slow, manual workflows to produce them, making post-database lock one of the biggest bottlenecks to regulatory approval. To remove this barrier, Veristat uses its AI-enhanced platform to compress the timeline to submission-ready TLFs from weeks to days, with every output validated by stati
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom