- Successful Seed Round: LIS Technologies Inc. has closed an expanded, oversubscribed $11.88 million seed funding round, far exceeding the initial $1.3 million target, reflecting strong investor confidence in their advanced laser uranium enrichment technology.
- Revitalization of CRISLA Technology: The funds will be used to advance the build-out of a new facility in Oak Ridge, TN, focusing on the proprietary CRISLA technology, which promises to be the most cost-effective uranium enrichment method at scale, offering applications in nuclear fuel, stable isotope synthesis, and quantum computing.
- Strategic Impact: The revitalization of this technology positions LIS Technologies to play a pivotal role in securing the U.S. domestic supply of LEU and HALEU fuels, critical for the future of the nuclear energy industry and the growth of Small Modular Reactors (SMRs) and microreactors.
LIS Technologies Inc. (“LIST” or “the Company”), a leader in advanced laser technology for uranium enrichment, has announced the successful closing of an expanded and oversubscribed $11.88 million seed funding round. Originally targeted at $1.3 million, the round was significantly expanded due to overwhelming demand, underscoring the strong investor confidence in the potential of LIS Technologies’ proprietary Laser Isotope Separation Technology (L.I.S.T).
This funding round, supported by investors including the 28 Ventures Fund and other active nuclear technology investors, will fuel the revitalization of LIS Technologies’ CRISLA technology—a U.S.-origin, patented laser enrichment process. Demonstrated in the 1980s and early 90s, and assessed by the National Nuclear Security Administration (NNSA) to a Technology Readiness Level (TRL) of 4, this technology is set to undergo significant development and testing at a new facility in Oak Ridge, Tennessee.
The CRISLA technology boasts versatility with applications across uranium enrichment for nuclear fuel, the synthesis of stable isotopes critical for medical and scientific research, and in the quantum computing sector, particularly for semiconductor manufacturing. For uranium enrichment, CRISLA’s selectivity allows for the production of Low-Enriched Uranium (LEU) in a single stage and High-Assay Low-Enriched Uranium (HALEU) in two stages, offering high throughput and reduced complexity compared to traditional methods. This positions the technology as a highly competitive option with lower capital and operational costs.
“We are thrilled with the overwhelming support for LIST and our vision to advance the U.S. nuclear energy sector,” said Christo Liebenberg, CEO of LIS Technologies Inc. “Revitalizing this technology is not just a milestone for our company but for the entire U.S. nuclear industry. Our goal is to establish the world’s most cost-effective uranium enrichment technology at scale, ensuring a reliable domestic supply of LEU and HALEU fuels, which are essential for the next generation of nuclear energy solutions.”
The company’s efforts to advance this cutting-edge technology underscore its commitment to supporting the U.S. nuclear fuel supply chain, particularly in the context of growing demand for SMRs and microreactors. The new Oak Ridge facility will be pivotal in this endeavor, enabling physical test work, demonstrations, and the recruitment of top talent to push the technology to commercialization.
About LIS Technologies Inc.
LIS Technologies Inc. is a U.S.-based developer of a patented advanced laser technology designed to revolutionize isotope separation. The company’s Laser Isotope Separation Technology (L.I.S.T) offers significant advantages over traditional uranium enrichment methods, including greater energy efficiency and cost-effectiveness. With applications ranging from nuclear fuel enrichment to the production of stable isotopes for research and the advancement of quantum computing, LIS Technologies is positioned to play a crucial role in the future of nuclear energy and technology.
