BrightStar Wisconsin Foundation Inc. made Monona-based Phoenix Nuclear Labs its first investment of 2016 and added the company to its portfolio of Wisconsin early stage, job-creating companies.
Phoenix Nuclear has developed a new class of intense neutron generators that can satisfy unmet market application needs within areas like radiography and the production of medical isotopes. It does it without the need of a nuclear reactor. The company has received over $12 million in grant funding over the past decade from the U.S. Departments of Defense and Energy and currently has contracts to supply the U.S. Army and SHINE Medical, among others.
BrightStar also disclosed the sale of over $500,000 of Early Stage Seed Tax Credits that will more than offset all annual operational expenses and then fund more innovative Wisconsin companies. The sale was made to a group of individual buyers led by the Managing Partner of HealthX Ventures and former Nordic CEO Mark Bakken.
