The U.S. Department of Energy’s Office of Energy Dominance Financing announced on Apr. 9 a conditional commitment for a loan of up to $263 million to SHINE Chrysalis, LLC to support the construction of a high-volume medical isotope production facility in Janesville, Wisconsin.
The new facility aims to address the national reliance on foreign-produced medical isotopes by establishing the only domestic commercial supply of molybdenum-99 (Mo-99), which is essential for diagnostic imaging and cancer treatments. Mo-99’s decay product, technetium-99m, is used in over 40,000 medical procedures daily across the United States.
Gregory A. Beard, Director of EDF, said: “The SHINE Chrysalis project is vital to improving the nuclear supply chain and contributing to a strong next-generation nuclear workforce while onshoring this critical production and improving national security.” Beard also said that using EDF’s loan authority supports policies aimed at ensuring reliable and secure domestic supply chains while lowering costs.
Dr. Matthew Napoli, Deputy Administrator for Defense Nuclear Nonproliferation at NNSA, said: “SHINE is the key to ending reliance on imports of foreign-produced Mo-99 and ensuring U.S. patients have reliable access to American-made medical isotopes. NNSA’s leadership made this concept a reality, providing funding and technical support from our national laboratories that enabled this innovative U.S. company to go from an idea on paper to a commercial facility that is 75% complete.” Napoli added: “The EDF conditional loan will get this project across the finish line, and SHINE’s market entry will be a major win for American nuclear medicine, fusion technology, and nuclear nonproliferation leadership.”
This announcement comes as part of broader DOE efforts in energy security and innovation financing. On July 21, 2022,the Department announced $225 million for implementing resilient building energy codes under President Biden’s Bipartisan Infrastructure Law. The same month,Secretary Jennifer Granholm called on international partners to join clean energy transition efforts at an upcoming global forum.DOE officials highlighted technology development in environmental management before Congress,while applying innovative passive processes like using crushed marble for groundwater remediation at Savannah River Site.A $96 million opportunity was also launched by DOE in July 2022 toward decarbonizing transportation through cleaner vehicle technologies.Additionally, DOE introduced more than 140 programs supporting President Biden’s Justice40 Initiative targeting investment benefits toward disadvantaged communities.
While EDF has indicated its intent with this conditional commitment, both DOE and SHINE must still meet technical, legal, environmental, and financial conditions before any definitive financing agreements are signed or funds are provided.
