SHINE Medical CEO Talks Europe Expansion, Future Phases of Company

In addition to creating a company that may soon supply two-thirds of the global demand for radioisotopes used in medical imaging, Wisconsin’s Greg Piefer is moving towards plans to create machinery that will produce clean energy and solve nuclear waste issues.

At the present time, though, the founder and CEO of Janesville-based SHINE Medical Technologies is leading his company through the construction of a facility in Janesville and eventual facility in Europe.

SHINE’s Janesville facility, expected to be completed in 2021 with commercial-scale isotope production starting in 2022, is for the commercial production of molybdenum-99, or Mo-99, which decays into technetium‑99m used in more than 40 million medical imaging procedures around the globe each year.

Piefer is also the founder and former president of Morona-based Phoenix Nuclear Labs, a sister company to SHINE that makes Piefer’s neutron generator design.

This past fall, the company announced plans to build a similar facility on a yet-to-be-determined site in Europe. When the European facility begins production, SHINE will be capable of producing more than two-thirds of the global patient demand for Mo-99. Europe is the second biggest market in the world for using the Mo-99 isotope at roughly 10 million tests per year, said Piefer, who holds multiple degrees from the University of Wisconsin-Madison.

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