posted on November 21, 2013
(Beloit, WI) Beloit Daily News Staff
NorthStar Medical Technologies, LLC, which is planning to build a facility in Beloit, has been awarded a $21.8 million cooperative agreement of which $10.9 million will be funded by the Department of Energy’s (DOE) National Nuclear Security Administration (NNSA).
The cooperative agreement is part of the NNSA’s Global Threat Reduction Initiative, which aims to accelerate the development of a reliable, domestic supply of molybdenum-99 while reducing the use of highly enriched uranium (HEU) in civilian applications worldwide. The funds will support NorthStar’s non-uranium-based production of molybdenum-99 via neutron capture. NorthStar is collaboratively pursuing the development and production efforts with the University of Missouri Research Reactor (MURR). Molybdenum-99 is a vital medical isotope used in over 50,000 medical diagnostic procedures daily in the United States.
In late September, NorthStar announced that it received an additional $13.5 million in funding from its primary investor, Hendricks Holding Company, along with other outside investors. This funding, in addition to the cooperative agreement from NNSA, provides the necessary capital to complete domestic commercialization efforts of this critical medical radioisotope.
In June, Northstar CEO George Messina told the Beloit Daily News that groundbreaking for the Beloit facility was planned sometime this year. However, Northstar still is waiting for FDA approval for the facility.