This week’s episode of “WisBusiness: the Podcast” is with Greg Piefer, CEO of SHINE Technologies.
This fusion technology company, headquartered in Janesville, is developing applications in health care, industrial and defense industries. Earlier this year, SHINE announced it had completed a $70 million investment round, which was the state’s largest deal of the year at the time.
Piefer discusses the need for that investment, how the funds will be used and more on the company’s future.
“SHINE is a long-term technology company, really focused on, frankly, commercializing nuclear fusion over time, ultimately with the goal of producing clean energy that way,” he said. “I think it not only gives us an option for carbon-free energy, but I think it provides the most scalable option as we look at the future of humanity long-term.”
The company this summer announced the opening of its Cassiopeia facility as the largest lutetium-177 production facility in North America. Lu-177 is a radioactive material that’s used alongside targeting molecules to deliver precise radiation to cancer cells.
Piefer says the company’s efforts in the medical space are critical, given the ongoing supply chain problems in nuclear medicine coupled with demand going “through the roof.”
“I believe very confidently that we will be the first nuclear fusion company to reach profitability, and we expect to do that next year,” he said.
Listen to the podcast below, sponsored by UW-Madison: