Key Takeaways:
- LIS Technologies Inc. has closed a 240% oversubscribed funding round of $17 million, totaling $64 million, to support the development of its laser uranium enrichment technology.
- The company’s technology has the potential to deliver enhanced efficiency, scalability, and reduced facility footprint relative to conventional enrichment methods, strengthening domestic energy security.
- LIS Technologies has been awarded a contract by the Department of Energy to participate in the Low-Enriched Uranium (LEU) Enrichment Acquisition Program, with contracts lasting for up to 10 years.
- The company’s proprietary Condensation Repression Isotope Selective Laser Activation (CRISLA) technology is a proven U.S.-origin and patented advanced laser enrichment solution.
- The funding secured will enable the company to advance its enrichment capabilities and infrastructure in Oak Ridge, TN, and to eventually demonstrate the production of LEU in a single stage, HALEU in two stages, and diversify the CRISLA technology into stable isotopes and medical isotopes.
Introduction to LIS Technologies Inc.
LIS Technologies Inc. is a USA-based, proprietary developer of advanced laser technology, making use of infrared lasers to selectively excite the molecules of desired isotopes to separate them from other isotopes. The company’s Laser Isotope Separation Technology (L.I.S.T) has a huge range of applications, including being the only USA-origin (and patented) laser uranium enrichment company. LIS Technologies has recently announced the closure of its 240% oversubscribed funding round of $17 million, totaling $64 million, to support the development of its laser uranium enrichment technology.
Funding Round and Investor Confidence
The funding round was led by a single large accredited investor, with participation from returning advanced nuclear technology investors and company insiders. The oversubscribed funding round is a testament to the growing momentum and investor appetite for the United States’ expanding advanced nuclear energy industry and LIS Technologies’ key role in the support of Department of Energy (DOE) objectives. The company’s executive chairman and CEO, Jay Yu, stated that the funding round enables the company to continue its rapid growth plan and mission of eventually taking a leading position in the United States nuclear fuel supply chain.
LIS Technologies’ Proprietary Technology
The company’s proprietary Condensation Repression Isotope Selective Laser Activation (CRISLA) technology is a proven U.S.-origin and patented advanced laser enrichment solution. Optimized for Low-Enriched Uranium (LEU), which is crucial for the continued operation of the United States’ current fleet of 94 nuclear reactors, and High-Assay Low-Enriched Uranium (HALEU), which is required to power the next generation of advanced nuclear reactors. CRISLA overcomes many of the complexities and limitations of traditional 16um CO2 lasers, featuring a streamlined design due to its lower absorption and shorter wavelength at 5.3µm.
Department of Energy Contract and Future Plans
LIS Technologies is one of six domestic U.S. companies awarded the Indefinite Delivery/Indefinite Quantity (IDIQ) contract by DOE in 2024 to participate in the up to $3.4 billion Low-Enriched Uranium (LEU) Enrichment Acquisition Program to build back the nuclear fuel supply chain, with contracts lasting for up to 10 years. The company plans to utilize the funding secured to advance its enrichment capabilities and infrastructure in Oak Ridge, TN, and to eventually demonstrate the production of LEU in a single stage, HALEU in two stages, and diversify the CRISLA technology into stable isotopes and medical isotopes.
Company Overview and Management Team
LIS Technologies Inc. employs a world-class nuclear technical team working alongside leading nuclear entrepreneurs and industry professionals, possessing strong relationships with government and private nuclear industries. The company’s president and co-founder, Christo Liebenberg, stated that the LIST team is proud to celebrate its latest successful funding raise and believes that its laser enrichment technology will be the first to commercially scale in the world. The company’s management team is committed to delivering enhanced efficiency, scalability, and reduced facility footprint relative to conventional enrichment methods, strengthening domestic energy security.
Forward-Looking Statements and Risks
The news release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on information available to the company as of the date of this news release and represent management’s current views and assumptions. However, the company’s actual future results may differ materially from those expressed in these forward-looking statements due to various risks and uncertainties, including difficulties with design and testing, cost overruns, development of competitive technology, loss of key individuals, and uncertainty of success of patent filing. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release.
