Shine has received a conditional commitment for a $263 million loan from the U.S. Department of Energy (DOE) to support completion of Chrysalis, a medical isotope production facility in Janesville, WI.
The facility aims to establish the first domestic commercial supply of molybdenum-99 (Mo-99), the firm said.
Mo-99 is used in more than 40,000 diagnostic procedures daily for conditions including heart disease and cancer, and the U.S. currently relies on imports from Europe, South Africa, and Australia for its supply. The isotope decays at approximately 1% per hour, meaning roughly one-third of its volume is lost during cross-continental transport.
Chrysalis, Shine’s large-scale irradiation facility, will complement the existing supply chain with the goal of ensuring a sustainable and reliable source of isotopes, including Mo-99.
Chrysalis uses fusion technology and a liquid uranium target to produce Mo-99, and is designed to also produce iodine-131, xenon-133, and other isotopes. Once operational, the facility is expected to be the largest medical isotope production facility in the world, according to the firm.
The conditional commitment requires Shine and the DOE to satisfy technical, legal, environmental, and financial conditions before financing is finalized.
