Apr. 09, 2025
Sumitomo Corporation
Strategic Partnership Formed with SHINE Technologies to Explore the Deployment of Fusion-Derived Technologies and Medical Isotopes in Japan and Asia- Feasibility study to support supply chain development for cancer diagnostic and therapeutic isotopes -
Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Shingo Ueno) announced that, through its group company Sumitomo Corporation of Americas (hereinafter collectively referred to as the “Sumitomo Corporation Group”), it has signed a memorandum of understanding (MOU) for a strategic partnership with SHINE Technologies (Head Office: Wisconsin, United States; Chief Executive Officer: Greg Piefer; hereinafter “SHINE”), a United States-based company driving the development and commercialization of fusion energy (*1). The partnership aims to explore the distribution and business development of SHINE’s fusion-derived technologies and medical isotopes (*2) in Japan and other Asian countries.
This partnership marks SHINE’s first strategic collaboration encompassing its entire business portfolio. It is intended to establish a stable supply chain for fusion-derived technologies and medical isotopes, through feasibility studies on commercialization potential as well as examinations of logistics and regulatory requirements. Sumitomo Corporation Group will conduct market research with regard to SHINE’s products and services, and if the business potential is confirmed, it will serve as a sales agent in Japan and other Asian countries.
Background of the Strategic Partnership with SHINE
In recent years, as the development of fusion energy as a potential sustainable energy source has accelerated in pursuit of a carbon-neutral society, its derivative technologies have also attracted growing attention in healthcare and other industrial sectors.
Founded in 2005, SHINE has a strong track record, ranking third in the fusion industry in terms of cumulative funding, with more than USD 800 million raised to date (*3, as of July 2024). The company has already commercialized several fusion-derived technologies. Its neutron imaging technology (*4) is used for quality assurance and non-destructive testing in sectors such as manufacturing, aerospace, and defense. SHINE also manufactures medical isotopes that are critical for nuclear medicine, including non-carrier-added lutetium-177 (Lu-177), and is capable of supplying them with high stability. As ensuring a stable and timely supply chain remains a major challenge in this field, the company’s technology is positioned as an innovative solution to address this issue.
In Japan, Lu-177-based pharmaceuticals have been approved for the treatment of somatostatin receptor-positive neuroendocrine tumors, and in the United States, they are also approved for prostate cancer. Furthermore, the global market for nuclear medicine (*5) is expected to grow from USD 6 billion in 2021 to USD 35 billion by 2031.
Sumitomo Corporation Group is committed to global and cross-sectoral business development by engaging with SHINE’s diverse business portfolio, which includes the application of neutron imaging technology, recycling of radioactive waste, and development of fusion energy, in addition to the distribution and commercialization of medical isotopes.
Sumitomo Corporation Group’s Initiatives in the Fusion Sector
Sumitomo Corporation Group is advancing leading-edge initiatives both in Japan and internationally, with a view to the social implementation of fusion energy and its derivative technologies as part of efforts to achieve carbon neutrality. In 2022, the Group made an investment in TAE Technologies (United States), followed by the launch of a collaboration with Tokamak Energy (United Kingdom) in 2023. TAE Technologies is currently developing and ultimately seeking to commercialize a fusion device (*6) that utilizes advanced p-B11 fuel (a combination of hydrogen and boron) to generate electricity. In parallel, TAE’s subsidiaries – TAE Power Solutions and TAE Life Sciences – are actively identifying new industries and expanding applications for innovative fusion-derived technologies. Similarly, Tokamak Energy is advancing efforts to expand the industrial applications of its proprietary fusion technologies.
Looking ahead, Sumitomo Corporation Group will continue to leverage its expertise and global network to support the dissemination and commercialization of partner technologies, while also facilitating supply chain development and fostering relationships with Japanese manufacturers and government agencies.
Investment in TAE Technologies, a Fusion Power Company in the United States
Collaboration with UK's Tokamak Energy Towards the Social Implementation of Fusion Energy
(*1) A fusion reaction refers to the process in which light atomic nuclei, such as hydrogen, fuse together to form a slightly heavier nucleus, such as helium, releasing a substantial amount of energy. The thermal energy generated through this reaction can be harnessed for power generation. As it offers stable fuel supply and emits no greenhouse gases, it is expected to serve as a next-generation primary energy source, alongside or in place of nuclear fission and fossil fuel power.
(*2) Radioactive isotopes used in the medical field, including for the diagnosis and treatment of diseases.
(*3) Source: “FIA Launches 2024 Global Fusion Industry Report – Fusion Industry Association”
(*4) A non-destructive testing technology that visualizes the internal structure of objects by irradiating them with neutrons. Unlike X-rays, neutrons possess different penetration characteristics, making it possible to observe the interiors of metals and liquids.
(*5) Source: ©MEDraysintell “Nuclear Medicine Report & Directory Edition 2023”
(*6) A device that uses fusion energy, as described in the Japanese Cabinet Office’s draft document titled “Basic Safety Concept for Realizing Fusion Energy,” which defines it as “a device that utilizes energy released when light atomic nuclei fuse and transform into another nucleus.”
- About Sumitomo Corporation
- Sumitomo Corporation (TYO: 8053) is an integrated trading and business investment company with a strong global network comprising 125 offices in 64 countries and regions. The Sumitomo Corporation Group consists of approximately 900 companies and 80,000 employees on a consolidated basis. The Group's business activities are spread across the following nine groups: Steel, Automotive, Transportation & Construction Systems, Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral Resources, Chemicals Solutions and Energy Transformation Business. Sumitomo Corporation is committed to creating greater value for society under the corporate message of "Enriching lives and the world," based on Sumitomo’s business philosophy passed down for over 400 years.
Sumitomo Corporation - About SHINE
- Headquartered in Janesville, Wisconsin, SHINE 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.
www.shinefusion.com
