NorthStar is funded in part by the National Nuclear Security Administration (NNSA), via 50-50 cost share agreements made possible through the Global Threat Reduction Initiative, which aims to minimize the use of Highly Enriched Uranium in the production of Molybdenum-99.
In 2010, NNSA awarded NorthStar a limited-scope cooperative agreement for $500,000, followed by the award of a $2.3 million cooperative agreement in 2011.
In November 2012, NorthStar and NNSA entered Phase 2 of their cooperative agreement, with the announcement $22.2 million in funding. Phase 2 funding is based on successful completion of an Environmental Assessment of NorthStar’s proposed Beloit, Wis. facility.
Phase 2 funds will be used for the set up and construction of the facility to support NorthStar’s non-uranium-based production of Mo-99.
In addition to NNSA funding, NorthStar partners with private investors through preferred stock financing. Our valued partners include:
- Hendricks Holding Company, Inc.
- Stateline Angel Investors
- A group of accredited investors