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Janesville isotope plant gets $263 million in finalized federal financing
The U.S. Department of Energy finalized a $263 million loan to help complete SHINE’s Chrysalis plant in Janesville. The facility is intended to produce medical isotopes used in cancer treatment and diagnostic imaging, with federal officials expecting it to support U.S. production and local jobs.
A $263 million federal loan for SHINE’s Chrysalis facility in Janesville has been finalized, providing financing to help complete what is expected to become the nation’s largest isotope production plant.
The U.S. Department of Energy says the facility is intended to bring more medical-isotope production to the United States, speed delivery of the materials to patients and create long-term jobs in the community. The isotopes are used in cancer treatment and diagnostic imaging.
SHINE founder and CEO Greg Piefer said development has taken about 15 years, involving new technology and approaches to licensing and construction in the nuclear sector.
“This will end up being not only a medical isotope hub, but hopefully and probably an energy technology hub as well,” said Greg Beard, an EDF director. “That’s beneficial for the community, the state, and ultimately the country.”
The finalized loan marks a major financing step for a project with potential implications beyond Janesville: the Energy Department sees the plant as a way to strengthen domestic isotope supply while supporting employment in the region.