Phoenix, LLC logo

Committed Investment: January, 2016

Status: Portfolio Exit

Phoenix (Monona) 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 uniquely does it without the need of a nuclear reactor. The company has received over $12MM in grant funding over the past decade from the US Departments of Defense and Energy and currently has contracts to supply the US Army and SHINE Medical, among others.

In 2017 Phoenix tripled their revenue and doubled their backlog. They also doubled their staff and manufacturing floor space to accommodate the growing work load. In August they closed a $12 million financing round to further accelerate growth of the business.

Acquired in 2021 by SHINE Technologies