tNiowave Inc., a Lansing-based company that specializes in commercializing superconducting particle accelerators, plans to open a new radioisotope production facility at a cost of nearly $80 million and create up to 120 jobs.
tThe expansion will allow Niowave to meet the growing need for medical radioisotopes, which are used for therapy or diagnostics by more than 18 million people in the county. It will also help in the development of advanced X-ray sterilization techniques and free electron lasers, which are used by the military and medical industries.
t“Today the United States produces only a small fraction of the medical radioisotopes, primarily importing from Canada and Europe,” says Terry Grimm, president of Niowave. “Once the radioisotope facility is operational, we will export radio-pharmaceuticals and industrial radioisotopes across the country as well as overseas. In addition, radio-pharmaceutical and biomedical research and development will be made possible right here in mid-Michigan with universities and large multi-national corporations.”
tMichigan was ultimately chosen over a competing site in Illinois for the Niowave expansion due to the financial support offered by various state organizations, including a $3-million Michigan Business Development Program incentive and a property tax abatement from the Port Lansing Next Michigan Development Corp.
t“Niowave is a global innovator in the particle acceleration industry and we are fortunate indeed to have them growing and thriving right here in Lansing,” says Virg Bernero, Lansing’s mayor. “Their presence in our region will act as a magnet for additional high-tech investment and help us attract and retain the young talent that is key to creating the next economy.”
tFounded in 2006, Niowave is the only company in the world operating a superconducting accelerator in its own facility.