LIS Technologies Inc., a proprietary developer of advanced laser technology and the only USA-origin and patented laser uranium enrichment company, today announced that it has closed its expanded, oversubscribed $11.88 Million seed funding round which included 28 Ventures Fund, an advanced USA nuclear technology company, and active nuclear technology investors.
Read also – PakEnergy Acquires Plow Technologies
The previously announced seed round of $1.3 Million was significantly expanded due to overwhelming demand, reflecting strong investor confidence in the vision and growth potential of Laser Isotope Separation Technologies (LIST).
Read also – [Funding News] Nucleus Security Receives Investment from Dcode Capital
The additional capital will help fuel the revitalization and rebirth of its proprietary, patented advanced laser enrichment technology, which was demonstrated in the 1980’s and early 90’s and assessed by the NNSA to a TRL (Technology Readiness Level) of 4. These funds will help to advance the build-out of a new facility in Oak Ridge, TN for physical test work and demonstrations, and the Company plans to attract additional top talent to its existing team of Scientists and Engineers.
The Company’s proprietary CRISLA technology is versatile, with potential applications spanning uranium enrichment for nuclear fuel, the synthesis of stable isotopes critical for medical and other scientific research, and in the growing field of quantum computing, particularly in semiconductor manufacturing. For laser enrichment of uranium, this method has sufficient selectivity that will enable the production of LEU in a single stage and HALEU in two stages. With high throughput, high duty cycle and reduced complexity compared to competing technologies, the Company projects highly competitive capital and operational costs.
“It is gratifying to witness the strong support for LIS Technologies and our vision for advancing the United States nuclear energy industry and its fuel supply chain,” said Christo Liebenberg, Chief Executive Officer of LIS Technologies Inc. “Revitalizing this technology will mark a major milestone, not just for our Company, but for the entire nuclear energy sector and industry in the United States. With the potential to become the world’s most cost-effective uranium enrichment technology at scale, it promises a reliable domestic supply of LEU and HALEU fuels – key to a thriving and innovative nuclear industry. The support and backing from advanced nuclear technology investors is a testament to our dedication and goals.”
About LIS Technologies Inc.
LIS Technologies Inc. (LIST) is a USA based, proprietary developer of a patented advanced laser technology, making use of infrared wavelengths to selectively excite the molecules of desired isotopes to separate them from other isotopes. The 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, and several major advantages over traditional methods such as gas diffusion, centrifuges, and prior art laser enrichment.
