U.S. government grants Shine $10M

Shine Medical Technologies has been awarded $10 million in funding from the U.S. government.

The U.S. Department of Energy's (DOE) National Nuclear Security Administration (NNSA) awarded the money as part of a $20.9 million cooperative agreement through the department's molybdenum-99 (Mo-99) program. The program supports U.S. commercial production of Mo-99 without the use of highly enriched uranium.

Each cooperative agreement is implemented under a 50%-50% cost-sharing arrangement between Shine and the DOE/NNSA. The new award brings the total value of the funding to $50 million, with DOE/NNSA contributing $25 million.

The money will be used to advance the design and construction of Shine's production facility in Janesville, WI, according to the firm.

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