University of Wisconsin-Madison

SHINE Technologies, a pioneering fusion technology company, was founded in 2010 by Dr. Greg Piefer, a University of Wisconsin alumnus and Emeritus Board of Visitors Member. The company grew out of federally funded research conducted at UW-Madison. Unlike other fusion technology companies, SHINE focuses on commercializing fusion technology through a phased approach. Initially, SHINE technologies used neutrons from fusion technology to support aerospace and defense industries, including the U.S. military.

Currently, SHINE is advancing into its second phase by utilizing isotope generators to produce medical isotopes, like lutetium-177 which is used in targeted cancer treatments. Historically, a significant portion of lutetium-177 production relied on materials sourced from Russia; SHINE aims to become the world’s first vertically integrated manufacturer of lutetium-177.

SHINE Technologies is driving economic growth in Southern Wisconsin and beyond by creating highly skilled jobs in the burgeoning fusion energy sector, attracting both federal funding and private investment. The company has raised $700 million in capital and employs over 400 people.

SHINE’s operations are expected to dominate the emerging lutetium-177 market, with the capacity to produce 100,000 doses per year. Currently, a majority of medical isotopes are produced outside of North America and SHINE is actively working to bolster America’s supply chain efficiency and bring medical isotope production to the United States. This strategic move aims to reduce reliance on foreign sources and enhance domestic capabilities in the production of critical medical isotopes.

The University of Wisconsin-Madison plays a crucial role in driving economic growth in the region. According to a 2021 report by NorthStar Analytics, UW-Madison, its affiliated organizations, and related startups contribute $30.8 billion annually to Wisconsin’s economy, supporting more than 232,000 jobs and generating $1 billion in state and local taxes.

The university’s long-standing commitment to research led to the formation of over 400 new businesses based on UW intellectual-property and the work of faculty, staff, and students. This entrepreneurial ecosystem, exemplified by companies like SHINE Technologies, showcases the university’s innovation journey from laboratories to powering communities and driving economic growth across the state.