SHINE Technologies, a US-based developer of fusion-based technologies, has raised $240M in recent funding led by Dr. Patrick Soon-Shiong, who joins the board. The company commercializes neutron sources for aerospace and defense testing, medical isotopes for diagnostics and cancer therapy, and nuclear fuel recycling. This funding supports facility expansions like Chrysalis and Cassiopeia, alongside recent acquisitions and product launches.
Fusion Pivots to Revenue-Generating Applications
The raise follows SHINE's January 2026 acquisition of Lantheus' SPECT radiopharmaceutical business. Tech Brew highlighted fusion's potential to transform medical isotope supply in December 2025. SHINE stands apart by monetizing fusion today through testing and isotopes, rather than awaiting grid-scale energy.
Fission Reactors Risk Isotope Shortages
Medical isotopes like Molybdenum-99 depend on limited, aging nuclear reactors susceptible to shutdowns. SHINE's Chrysalis facility targets 20M Mo-99 doses annually. Lutetium-177 demand surges for cancer theranostics, but supply lags; Cassiopeia aims for 200k doses per year.
Steady-State Neutrons Power Testing
FLARE generates 14 MeV neutrons for radiation effects testing critical to aerospace and defense components. PHOENIX enables neutron imaging for nondestructive evaluation, logging 100% uptime. These reactor-independent sources address vulnerabilities in traditional uranium-based systems.
Ilumira Targets Cancer Theranostics Gap
SHINE's Ilumira produces high-purity Lutetium-177 for combined diagnostics and therapy. First doses shipped in 2024 mark a milestone. Unlike competitors reliant on reactor schedules, SHINE's fusion approach offers reliable output.
Biotech Leader Validates Fusion Shift
Dr. Patrick Soon-Shiong's lead investment signals crossover appeal from biotech to fusion. His board seat aligns with SHINE's nuclear medicine focus, including the Lantheus acquisition adding SPECT products. This moves beyond mission capital toward commercialization conviction.
Partnerships Accelerate Neutron Deployment
SHINE partners with ARPA-E, Argonne National Lab, and UKAEA across US and European facilities. It earned the first non-utility NRC Final Safety Evaluation Report since 1985. World-record 50 trillion neutrons per second steady-state underscores technical maturity.
Medical Fusion Reshapes Supply Chains
SHINE's 400 employees support multiple revenue streams: neutron testing, isotope production, and recycling. Facilities like Phoenix achieve perfect uptime. This multi-pronged strategy positions fusion as viable now, shifting investor views from energy speculation to applied tech.