Previously known as SHINE Medical Technologies, the company rebranded itself back in September as SHINE Technologies.

Earlier this month, the company signed the first-ever contracts with the U.S. Department of Energy under the agency’s Uranium Lease and Take-back Program to help increase domestic production of Mo-99. Under the contract, SHINE will receive low-enriched uranium from the DoE’s National Nuclear Security Administration and use it to create Mo-99. In return, the DOE will provide requirements for managing radioactive waste that results from isotope production without a commercial disposal path.

"Signing these contracts with SHINE is a crucial step toward medical isotope autonomy for the United States," said Corey Hinderstein, NNSA Deputy Administrator for Defense Nuclear Nonproliferation, in a statement.

SHINE announced plans to add a European plant back in March 2020 as a way to improve the supply chain and ensure patients receive adequate medical imaging exams that can accurately diagnose them.

The company said last May that it had settled on Veendam as the location for its plant following a years-long review of more than 50 proposals from sites across Europe.

It chose Veendam due to the area’s strong support for radioisotope production, the availability of highly skilled and educated workers, easy transportation to the European market and the presence of the royal university, as well as accelerator technology knowledge and infrastructure.

The U.S. is the leading consumer of Mo-99 and utilizes the coveted radioisotope in 40,000 daily medical diagnostic procedures. Behind it is Europe, which currently is the biggest producer of Mo-99 but is slated to end production in 2025, hence the need for the Dutch plant.

SHINE is in the process of obtaining all regulatory approvals and licensing for the new facility in Europe and expects to obtain them over the next couple of years.

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