Dr. Greg Piefer, Founder & CEO, SHINE Technologies

I founded the company with the mission of transforming the way humanity generates energy. Our primary focus is on advancing and commercializing fusion energy, which I firmly believe will become the preferred energy source once it is economically viable. Fusion offers a pathway to a future of abundant and increasingly affordable energy. However, the journey to achieving this is exceptionally complex, involving some of the most advanced technologies ever developed and operating in extraordinarily challenging environments.

This understanding has informed our approach, which is both systemic and long-term. We’ve committed to building a robust foundation—developing not only our technology but also our supply chains, teams, and investor confidence. Recognizing that commercializing fusion energy requires sustained investment over decades, we have sought to practice fusion in ways that create value in the interim.

The key lies in leveraging fusion’s byproducts, such as neutrons, which have applications that are far more profitable than energy production at this stage. For example, fusion-generated neutrons are invaluable in sectors such as aerospace, defense, and advanced manufacturing, where they offer returns significantly higher—often hundreds to thousands of times greater—than those associated with energy generation.

This pragmatic approach has allowed us to commercialize real fusion systems and generate revenue by targeting markets beyond energy. Over time, as we continue to refine our processes and reduce costs, we are scaling our applications to encompass broader and even more transformative industries, particularly in the medical field.

Several factors have been critical to our success. First and foremost is the dedication of our team, which extends beyond our employees to include our investors and partners. Their steadfast belief in our long-term vision, particularly during challenging periods such as the pandemic, has been instrumental.

Another key factor is innovation. Our technological advancements have enabled us to construct infrastructure that would have been otherwise prohibitively expensive or infeasible using conventional methods. Traditional approaches to building reactors, for example, involve multi-billion-dollar investments and decades of development. By contrast, our fusion technology allows us to move more swiftly and cost-effectively, while also enhancing safety and environmental outcomes.

Together, the resilience of our people and the disruptive potential of our technology have positioned us to lead in this space.

We are deeply engaged in the production of medical isotopes—radioactive materials used in the diagnosis and treatment of diseases. This niche industry has traditionally relied on outdated research reactors, many of which are reaching the end of their operational lifespans. Recognizing this gap, we have harnessed our fusion technology to address these challenges in a more cost-effective and sustainable manner.

For instance, we produce molybdenum-99, a precursor to technetium-99m, which is essential for over 40 million diagnostic imaging procedures annually. These isotopes are paired with targeted drugs to detect conditions ranging from cardiac issues to cancer. On the therapeutic side, we manufacture isotopes like lutetium-177, which are used in emerging cancer treatments.

This is a transformative moment in medicine. Advances in targeted radiation therapy, such as radioligand therapies, represent a new frontier in oncology, offering unprecedented precision in attacking cancer cells while sparing surrounding healthy tissue. Our role is to ensure a stable and efficient supply of these isotopes, thereby supporting the global medical community in its fight against disease.

Our competitive strengths are rooted in three areas: technology, culture, and infrastructure.

Technologically, we are pioneering the use of fusion for isotope production, offering capabilities that are both advanced and cost-efficient. This represents a significant departure from traditional methods, enabling us to scale production and meet growing demand.

Culturally, we have embraced a first-principles approach, which fosters a mindset of questioning assumptions and continuously seeking improvement. This philosophy drives innovation not only in our core technology but also in operational efficiencies across the organization.

Finally, our established infrastructure and the significant time we have invested provide us with a substantial advantage. Having been in operation since 2011, we are well-positioned with both the expertise and facilities necessary to meet the needs of this rapidly evolving market.

My message is straightforward: Fusion is not only a technological marvel but also a viable and profitable enterprise. We have demonstrated profitability in our defense markets and anticipate profitability in the isotope business by next year. This success validates our model of leveraging fusion’s interim applications to create value while progressing toward energy production.

For stakeholders in the medical sector, our contribution to stabilizing the supply chain for medical isotopes is critical. With the increasing demand for these isotopes in diagnostics and therapies, we are positioned as an essential partner for pharmaceutical companies and healthcare providers.

For investors, SHINE Technologies represents a unique opportunity—a bet on the broader potential of fusion and the specific advancements we are driving in healthcare, defense, and beyond. We are deeply committed to creating positive, transformative change while recognizing that financial success is essential for scaling our impact.

Over the next three to five years, we aim to become the world’s leading producer of medical isotopes, leveraging our state-of-the-art infrastructure and strategic investments. Beyond this, we will embark on Phase 3 of our development, focusing on applying our fusion technology to nuclear waste recycling.

The recycling of nuclear waste is a critical challenge, and we believe our fusion capabilities offer a groundbreaking solution. By using fusion neutrons, we can transmute long-lived radioactive isotopes into shorter-lived, less harmful forms, effectively mitigating one of the most persistent issues in nuclear energy.

This phase will also allow us to scale our technology to the level required for energy production while maintaining profitability through applications such as waste recycling. Ultimately, our vision is to make fusion the cornerstone of a clean, sustainable energy future, outcompeting all other energy sources in terms of cost and reliability.