LIS Technologies Inc. Announces Closing of Expanded, Oversubscribed Total $11.88 Million Seed Round to Fund the Rebirth of the Only U.S. Origin and Patented Laser Uranium Enrichment Technology
Summary
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 Companys 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. 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 LIST 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 worlds 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. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control. Only after successful completion of our Pilot Plant Demonstration (Phase 2) will LIS Technologies be able to make realistic economic predictions for a Commercial Facility.