SHINE Technologies has raised $240 million in equity funding, the company announced recently.

The round was led by NantWorks with additional participation from Fidelity Management & Research Company, Sumitomo Corporation of Americas and others.

According to a release, the funding advances SHINE’s commercial fusion technology across its current portfolio of products and services, and it marks the beginning of the company’s next stage of growth, developing technology to recycle used nuclear fuel and building toward commercial fusion energy production.

The biotech company also entered into a strategic partnership with NantWorks, which includes priority access arrangements for Lu-177 supply from SHINE.

“Fusion energy is one of the most important technologies humanity will ever develop — it will forever change how we power our species, and is already having major impact across advanced manufacturing, healthcare and recycling,” CEO and Founder of SHINE Greg Piefer said in a statement.

SHINE also appointed Dr. Patrick Soon-Shiong, founder of NantWorks, to its Board of Directors.

To date, SHINE has raised more than $1 billion.