SHINE Technologies has raised $240 million in equity funding, bringing its total capital raised to more than $1 billion. The round was led by NantWorks, with participation from Fidelity Management & Research Company, Sumitomo Corporation of Americas, Pelican Energy Partners, Deerfield Management, and Oaktree Capital Management.
SHINE’s model is unusual in the fusion world. Rather than waiting decades for grid-scale fusion energy, the company is commercializing fusion technology today. Its systems generate neutrons that are already used for testing mission-critical aerospace and defense components, as well as producing medical isotopes for diagnostic imaging and cancer treatment.
One of its flagship products is Lu-177, a radioisotope used in radioligand therapies that target cancer cells with precision. SHINE operates one of the largest Lu-177 production facilities in North America, with capacity of up to 100,000 doses annually and plans to scale to 200,000. Its Ilumira product has shipped to 19 countries since launching commercially in 2024.
Beyond healthcare and neutron testing, SHINE is developing nuclear waste recycling technology aimed at reducing long-term radioactive waste. The company’s longer-term ambition remains commercial fusion energy, but its strategy is to build revenue and operational expertise through nearer-term applications first.
CEO Greg Piefer describes fusion as a platform technology, already influencing manufacturing, medicine, and recycling. With fresh capital and a high-profile strategic partner, SHINE is positioning itself as one of the few fusion companies generating meaningful commercial output while still pursuing the larger energy prize.
