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• SHINE receives a second grant from the Department of Energy’s Small Business Innovation Research project, supporting its Phase 3 efforts to recycle nuclear waste
• The company hires industry leader Todd Caccamo as CRO to drive commercial expansion
JANESVILLE, Wis., Sept. 26, 2024 – SHINE Technologies, a next-generation fusion company, today announced positive momentum towards its goals of commercializing fusion energy with a new grant from the Department of Energy (DOE) and the appointment of Todd Caccamo as Chief Revenue Officer (CRO) to drive the company’s commercial growth and market expansion.
The new grant from the Department of Energy’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) transforms DOE-supported science and technology breakthroughs into viable products and services, creating a bridge between the laboratory and the marketplace. SHINE will use the funding to advance the development of porous materials (including hollow glass microspheres) that can more economically capture and properly dispose of Xenon and Krypton, two gaseous byproducts of nuclear fuel processing, to prevent their exposure to the environment.
The United States has an estimated 86,000 metric tons of nuclear waste, a number that grows by about 2,000 tons per year. Globally, the annual production of nuclear waste is approximately three times this number and growing. Recycling and reusing this fuel is an environmentally sustainable approach that significantly mitigates one of the greatest obstacles to broader long-term adoption of nuclear energy. SHINE aims to solve this nuclear waste challenge by repurposing used nuclear fuel, which still contains more than 90% of its energy capacity. The DOE’s support will enable SHINE to continue its work in advancing its Phase 3 program to recycle nuclear waste.
“We are thankful to the DOE for their continued support,” said Ross Radel, CTO at SHINE. “This grant is a crucial step in advancing our ability to better understand and derisk the off-gas capture work needed to bring us closer to making nuclear fuel recycling a viable solution for the U.S. energy landscape.”
Building on this momentum, SHINE has appointed Todd Caccamo as CRO to lead the company’s growth strategy and optimize its commercialization efforts.
Todd brings over 20 years of experience in the defense, medical, and energy spaces, including leadership roles at Materion Corporation and GE Aviation, where he successfully scaled sales organizations and drove market expansion.
In his role at SHINE, Todd will focus on guiding and systematizing existing processes, driving growth in SHINE’s imaging, FLARE, and radiopharmaceuticals businesses.
“I firmly believe in SHINE’s mission and am proud to be a part of its work to make nuclear fusion a reality,” said Todd Caccamo, SHINE Technologies’ CRO. “During my time in the Marines, I learned the importance of teamwork and servant leadership and have brought these attitudes with me throughout my career to create hyper-growth for the companies I’ve served. I look forward to helping enable SHINE’s ability to create a safer, healthier, and cleaner world.”
“Todd comes to SHINE at a critical moment as we ramp multiple product lines across a wide range of customers,” said Greg Piefer, CEO and founder of SHINE. “His expertise with scaling sales organizations, particularly deploying people, processes and systems, is a perfect fit as we complete our transition from a development-stage company to a growth-stage enterprise.”
Headquartered in Janesville, Wisconsin, SHINE Technologies stands as an industry leader in next-generation fusion, deploying innovative fusion and fusion-based technology that seamlessly combines safety, cost-efficiency, and environmental responsibility.
Distinguished by its proprietary medical isotope production processes, SHINE is at the forefront of creating non-carrier-added lutetium-177—a vital component in cutting-edge medical treatments. Anticipating further advancements, the company's forward-looking vision includes the creation of molybdenum-99, a diagnostic tool that plays a pivotal role in medical procedures aimed at detecting heart disease and cancer.
SHINE's commitment to innovation extends beyond the realms of industry and healthcare. Drawing on its fusion-technology expertise, the company has set its sights on addressing one of energy's most complex challenges—nuclear waste recycling. With a comprehensive and visionary approach, SHINE is steadfastly driving advancements across multiple sectors, leaving an indelible mark on the domains of technology, healthcare, and sustainable energy solutions.
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