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Phoenix, LLC

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Phoenix designs and manufactures the highest-yielding neutron generators and commercializes nuclear technologies for practical applications

Fitchburg, United StatesFounded 2005Engineering and Manufacturing Equipment
Valuation $25–50M Last recorded · 2019
Headcount <100 Current team size
Total funding $10–50M Disclosed equity funding
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About Phoenix, LLC

Phoenix, LLC functions as a specialized provider of neutron imaging services, a critical form of nondestructive testing (NDT) for clients in the aerospace, defense, and energy sectors. The company was established in Madison, Wisconsin, in 2005 by Dr. Gregory Piefer, a graduate of the University of Wisconsin-Madison's nuclear engineering program. Dr. Piefer's vision was to commercialize fusion technology for practical, near-term applications as a stepping stone toward the long-term goal of clean fusion energy. The company's core technology is a proprietary, accelerator-driven neutron generator that produces high-flux neutrons without relying on a nuclear reactor. This approach offers clients greater reliability and accessibility compared to the limited and aging research reactors that have historically provided these services.

The business model centers on providing neutron radiography as a commercial service for quality assurance, failure analysis, and research and development support. This is particularly valuable for inspecting mission-critical components, such as munitions or jet engine turbine blades, where internal flaws undetectable by X-rays can be identified. Phoenix operates the Phoenix Neutron Imaging Center in Fitchburg, Wisconsin, one of the few facilities in the world offering production-scale neutron radiography services. Revenue is generated by performing these specialized NDT services for manufacturers and government agencies, including a long-standing relationship with the US Army. The company holds numerous certifications and licenses, including ISO 9001:2015, AS9100D, and compliance with DoD safety and security manuals, enabling it to handle sensitive and regulated components.

In April 2021, Phoenix merged with SHINE Medical Technologies (now SHINE Technologies), becoming a wholly-owned subsidiary. This merger was a natural progression, as Dr. Piefer also founded SHINE in 2010 as a spin-off from Phoenix to apply the same core neutron generation technology to the production of medical isotopes. The two companies had collaborated closely for over a decade, and the merger aligned their shared mission to advance fusion technology. Phoenix now represents the commercialization of the first phase of SHINE's multi-phase approach to developing practical fusion energy. Dr. Evan Sengbusch, who joined Phoenix in 2012 with a background in medical physics and technology management, serves as a key leader within the organization.

Source: Dealroom company data

At a glance

Founded
2005
Headquarters
Fitchburg, United States
Sector
Engineering and Manufacturing Equipment

Investors

9 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Seed1 investor entered at this stage

  • US Army

Series A5 investors entered at this stage

  • Venture Management
  • Chippewa Valley Angel Investors Network
  • KNOXX
  • Wisconsin Investment Partners
  • NEW Capital Fund

Series B and later3 investors entered at this stage

  • Mendota Venture Capital
  • Knox Capital
  • Deerfield
Team profiled 7 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 1 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
1 countries with
team presence
🇺🇸 United States95.5%
1 country shown

Market sentiment

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