Shine Technologies Raises $70 Million Financing Round To Accelerate The Commercialization Of Near-Term Applications Of Fusion Technology

Oct 11, 2023•almost 2 years ago

Amount Raised

$70 Million

JanesvilleManufacturingRenewable EnergyEnergy

Investors

Fidelity Management & Research CompanyBaillie Gifford

Description

SHINE Technologies, LLC, a next-generation fusion technology company, today announced it has raised $70 million in additional funding. The round was led by existing investors including Baillie Gifford and Fidelity Management & Research Company, and also includes participation from new institutional investors. This round will complete the commercialization and scale-up of the company's near-term applications of fusion technology, which are used in the industrial, defense, and healthcare markets.

Company Information

Company

SHINE Technologies

Location

Janesville, Wisconsin, United States

About

Based in Janesville, Wisconsin, SHINE deploys its safe, cost-effective and environmentally friendly fusion technology in a stepwise approach. Its systems are used to inspect industrial components in aerospace, defense, energy and other sectors. SHINE's proprietary medical isotope production processes create non-carrier-added lutetium-177 and are expected to create molybdenum-99. In the future, SHINE plans to scale its fusion technology to help solve one of energy's toughest hurdles by recycling nuclear waste. Through a purpose-driven and phased approach, SHINE aims to generate fusion power to deliver clean, abundant energy that could transform life on Earth. Want to learn more about SHINE? Visit www.shinefusion.com and follow us @shinefusion. SOURCE SHINE Technologies, LLC

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