LIS Technologies, a proprietary developer of advanced laser technology and the only USA-origin and patented laser uranium enrichment company, announced that it has closed its third consecutive oversubscribed funding round of $11.93 million, bringing the total raised to over $47 million to date. The funding round saw continued support from repeat investors, including Innovating Capital, along with other prominent, seasoned, and industry investors in advanced nuclear technology.
With high demand within the United States for a domestic nuclear fuel supply chain, alongside strong support from returning investors, the company’s recent financing round was oversubscribed. This funding highlights LIST’s position as an emerging leader in the United States enriched uranium fuel market and validates the company’s success in attracting and retaining top researchers, scientists, regulatory experts and former U.S. national leaders to help drive the revival of the nation’s only patented laser‑enrichment technology.
In late 2024, LIS Technologies was picked as one of six domestic companies to participate in the Low-Enriched Uranium (LEU) Enrichment Acquisition Program. And this initiative allocates up to $3.4 billion overall, with contracts lasting for up to 10 years. Each awardee is slated to receive a minimum contract of $2 million.
The company’s proprietary Condensation Repression Isotope Selective Laser Activation (CRISLA) technology is the world’s only proven U.S.-origin and patented advanced laser enrichment solution. Optimized for Low-Enriched Uranium (LEU), which is essential for the continued operation of the United States’ current fleet of 94 nuclear reactors, and High-Assay Low-Enriched Uranium (HALEU) and this 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. And the CRISLA-3G laser isotope separation technology was recently evaluated and determined to meet all elements required for TRL-4, conforming to the Department of Energy guide DOE G 413.3-4A and is protected by a patent from the United States Patent and Trademark Office (USPTO).
The funding secured in this round will enable the company to advance into its next phase of growth. And this includes systems engineering, integration and testing of our Test Demonstration Facility in our newly upgraded laboratories in Oak Ridge TN, while also developing LIST’s own proprietary lasers in the United States. The goal over the next couple years is to not only repeat earlier baseline results, but to optimize it, and then demonstrate that the technology can produce LEU in a single stage, and HALEU in two stages, with fully scaled and industrialized equipment.
What the funding will be used for: The funding also enables the company to diversify the CRISLA technology into stable isotopes and medical isotopes.
KEY QUOTES:
“Despite the volatile market conditions of this year, we continue to deliver on our objectives, and investors clearly recognize the value of our progress. This marks our third consecutive oversubscribed financing round, highlighting investor’s confidence in LIST’s seasoned management team and our mission to revive the only U.S.‑origin, patented laser enrichment technology, which was independently evaluated and determined to meet all elements required for TRL-4, conforming to the Department of Energy guide DOE G 413.3-4A. We are here to answer the call and help build back the United States’ nuclear capabilities, support a reliable, robust domestic fuel supply for current civil nuclear reactors, microreactors, small modular reactors and to truly unleash American energy.”
Jay Yu, Executive Chairman and President of LIS Technologies
“The success of this and our previous raises underscores the confidence that investors have in our mission, team and technology. This raise will enable us to continue growing operations, add more senior technical engineers, regulatory leaders and to rapidly advance our projects, which would be closer to demonstration activities crucial for meeting the company’s growth objectives.”
Christo Liebenberg, Co-Founder and CEO of LIS Technologies
