— This week’s episode of “WisBusiness: the Podcast” is with returning guest Greg Piefer, founder and CEO of SHINE Technologies.
Piefer discusses the latest developments and path ahead for the Janesville-based nuclear technology company, which recently announced an agreement with a business called Orano to develop a pilot plant for recycling spent nuclear fuel.
“It’s a really big deal,” Piefer said. “I think as we look at climate change and our progress in combating climate change, it hasn’t been as nearly as fast as we need it to, and I think there’s increasing acceptance that nuclear energy is probably one of the most powerful tools we have for actually meeting our climate goals.”
But nuclear energy has two major challenges, he notes, pointing to cost and waste. The cost of operating nuclear fission power plants has been coming down over time, but the long-term problem of storing nuclear waste remains a stickler.
“We’ve taken it upon ourselves to position ourselves in the middle of what I think will be a rebirth of a U.S. recycling capability for nuclear waste,” he said. “And it turns out that recycling nuclear waste can not only reduce the volume of the waste stream by about a factor of 20 … it can also mine valuable materials out of the waste stream that can be used.”
SHINE’s large-scale medical isotope production facility, called Chrysalis, is licensed in the same way a nuclear waste recycling facility would be, Piefer said. He said the company is “uniquely positioned” to help address the nuclear waste problem with its existing expertise.
Orano has a successful track record of recycling nuclear waste in France for much of Europe and other countries including Japan, according to Piefer.
“If you look at the amount of waste Orano has recycled over its tenure as a company, it’s half the U.S. stockpile,” he said. “So we’re talking about a really meaningful amount of waste. We want to learn from them, we don’t want to reinvent the wheel.”
The pilot plant is expected to launch sometime in the 2030s, but Piefer says federal regulations could influence that timeline.
“The biggest thing that needs to happen, frankly, is we need the government to solidify on its policy of whether they’re going to fight this or whether they’re going to embrace this,” he said. “I think there’s mixed feelings in the government right now.”
Listen to the podcast.
See the full list of WisBusiness.com podcasts.
— In the latest episode of “WisBusiness.com: The Show,” gener8tor Partner Lauren Usher talks about the accelerator’s state, national and global footprint as it works to provide opportunities for entrepreneurs.
The group now has 126 full-time employees across more than 20 U.S. states and Luxembourg, and has worked with more than 1,200 startups across its programs. Usher shares insights on the investment accelerator programs gener8tor offers for startups that are ready for a $100,000 investment.
“Generally, companies at this stage are generating some revenue, they’re tech-enabled companies for the most part — although we do work with consumer packaged goods or food and beverage — and they’re really looking to ramp up,” she said.
She also touches on the group’s gBETA program for earlier-stage companies, and highlights communities in Wisconsin where gener8tor has a presence.
The show also previews an upcoming Wisconsin Technology Council program on aviation technology, and recaps some recent events.
Watch the episode.
— Wisconsin’s unemployment rate dipped to 3% in February from 3.2% in January, according to the latest federal figures released by the Department of Workforce Development.
At the same time, the state’s labor force participation rate fell slightly over the month to 65.7% from 65.9%, but remained above the U.S. rate of 62.5%. State unemployment was below the national rate of 3.9% for February.
Meanwhile, total nonfarm jobs saw an increase of 3,200 over the month and 22,400 over the year, reaching a new record high of 3,030,900 in February, DWD Chief Economist Dennis Winters said yesterday during an online briefing.
“Businesses are healthy, consumption is healthy, wages are up, people are spending, that drives the economy,” he said. “And now the Fed has stepped in saying that they’re looking to drop interest rates here over the course of the next several months … debt essentially is cheaper and borrowing is cheaper, so there should be a pretty good influence into consumption and investment.”
See the release and watch the briefing.
Top headlines from the Health Care Report…
— Family caregivers of people with Alzheimer’s disease provided 297 million hours of unpaid care in Wisconsin last year, according to a recent report from the Alzheimer’s Association.
For more of the most relevant health care news, reports on groundbreaking research in Wisconsin, links to top stories and more, sign up today for the free daily Health Care Report from WisPolitics and WisBusiness.com.
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— Madison-based Fetch has secured a $50 million debt financing deal with Morgan Stanley Private Credit, the rewards program company announced.
Having reached profitability in the fourth quarter of last year, the business says it will use the new funding for product innovation, developing the platform’s AI technologies, growing the rewards app’s user base and hiring more employees.
“Fetch is transforming the way brands and consumers connect and solving the biggest problems in advertising,” CEO and founder Wes Schroll said in a statement. “This financing will allow us to innovate faster and supercharge our ability to bring our platform to more brands and more households.”
See the release and listen to a recent podcast with Schroll.
TOP STORIES
Superior braces for legal challenge over planned $1B natural gas plant
Fetch rewards app turns first profit and prepares for ‘hypergrowth’
As Milwaukee’s airports look ahead to pursuing grant funding, a $250,000 award was announced
TOPICS
ADVERTISING
– Miller Lite revives iconic ‘tastes great-less filling’ advertising debate
AGRIBUSINESS
– Wisconsin farmer leader encouraged by soy checkoff impacts
– Wis farmers hit the hill in hopes of passing new Farm Bill
CONSTRUCTION
– Five construction projects aim to reshape UW-Madison’s future
– City planning $2 million redesign of Michigan Street in downtown Milwaukee
ECONOMY
– Wisconsin job growth flat in February, unemployment dips
MEDIA
– ‘Top Chef Wisconsin’ Episode 1: Who won, who lost, who stole the fish
– ‘Top Chef’ premiere party underscores Wisconsin’s reputation as culinary powerhouse
NONPROFIT
– Big gift has Centro Hispano ready to open new Madison center, Calli
POLITICS
– Wisconsin passes law to prevent AI ‘deepfakes’ in political ads
– Evers vetoes Republican election bills, signs sales tax exemption for precious metals
– Employers not entirely on board with in-person work during RNC
REAL ESTATE
– Fiserv’s Brookfield office is for sale – here’s the asking price
TECHNOLOGY
– Collaborative platform for Wisconsin dairy producers
TOURISM
– New Wisconsin Dells resort will include ‘treehouses,’ supper club
TRANSPORTATION
– Wisconsin will get $78.7M to build electric vehicle charging station network
COLUMNS
– Opinion: Northwestern Mutual’s John Schlifske speaks out on $252 million MPS referendum
PRESS RELEASES
See these and other press releases
Dept. Natural Resources: Seeking public comment on elk management plan
