Greg Piefer is ambitious, to say the least.
The CEO of SHINE Medical Technologies expects his company to create a reliable supply of the medical ingredients, including molybdenum-99, required by nearly 100,000 patients each day.
“We’re not going to be second to anyone (in the world),” Piefer said Tuesday at the monthly WIN luncheon held at the Sheraton Hotel.
In February, SHINE received approval from the U.S. Nuclear Regulatory Commission for construction of a 57,000 square-foot isotope manufacturing facility in Janesville, Wis. Piefer will move his company from its current headquarters in Monona, Wis., to Janesville “in the last half of this year.”
According to Piefer, SHINE will meet a major need in the world due to the limited number of manufacturers globally of molybdenum-99 and the short half-life (one percent decay per hour) of the isotope.
In addition, SHINE’s process produces less waste, is safer and is one-quarter the cost of existing methods, Piefer said. If the model is successful, Piefer said he will clone the technology in Asia in the mid-2020s.
Someday, SHINE’s technology may help society in other areas, such as destroying long-lived nuclear waste.
“I started this company as a stepping stone (to helping the world),” Piefer said.