Oak Ridge, Tennessee, May 19, 2025 (GLOBE NEWSWIRE) — LIS Technologies Inc. (“LIST” or “the Company”), 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 third consecutive oversubscribed funding round of $11.93 million and now totaling over $47 Million raised to date. The round drew continued support from repeat investors, including Innovating Capital, alongside other prominent, seasoned and industry investors in advanced nuclear technology.
Due to a growing appetite within the United States for a robust domestic nuclear fuel supply chain, alongside strong support from returning investors, the Company’s recent financing round was oversubscribed. The raise underscores 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.
“Despite the volatile market conditions of this year, we continue to deliver on our objectives, and investors clearly recognize the value of our progress,” said Jay Yu, Executive Chairman and President of LIS Technologies Inc. “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.”
In late 2024, LIS Technologies Inc. was selected as one of six domestic companies to participate in the Low-Enriched Uranium (LEU) Enrichment Acquisition Program. 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 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. 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 success of this and our previous raises underscores the confidence that investors have in our mission, team and technology,” said Christo Liebenberg, Co-Founder and CEO of LIS Technologies Inc. “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.”
The funding secured in this raise will enable the Company to advance into its next phase of growth. 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. Our goal over the next couple years is to not only repeat earlier baseline results, but to optimize it, and then demonstrate that our technology can produce LEU in a single stage, and HALEU in two stages, with fully scaled and industrialized equipment. The funding also allows us to diversify the CRISLA technology into stable isotopes and medical isotopes.
About LIS Technologies Inc.
LIS Technologies Inc. (LIST) is a USA based, proprietary developer of a patented advanced laser technology, making use of infrared lasers 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. The LIST proprietary laser-based process is more energy-efficient and has the potential to be deployed with highly competitive capital and operational costs. L.I.S.T is optimized for LEU (Low Enriched Uranium) for existing civilian nuclear power plants, High-Assay LEU (HALEU) for the next generation of Small Modular Reactors (SMR) and Microreactors, the production of stable isotopes for medical and scientific research, and applications in quantum computing manufacturing for semiconductor technologies. The Company employs a world class nuclear technical team working alongside leading nuclear entrepreneurs and industry professionals, possessing strong relationships with government and private nuclear industries.
In 2024, LIS Technologies Inc. was selected as one of six domestic companies to participate in the Low-Enriched Uranium (LEU) Enrichment Acquisition Program. 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.
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Forward Looking Statements
This 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. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. 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. For LIS Technologies Inc., particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following which are, and will be, exacerbated by any worsening of global business and economic environment: (i) risks related to the development of new or advanced technology, including difficulties with design and testing, cost overruns, development of competitive technology, loss of key individuals and uncertainty of success of patent filing, (ii) our ability to obtain contracts and funding to be able to continue operations and (iii) risks related to uncertainty regarding our ability to commercially deploy a competitive laser enrichment technology, (iv) risks related to the impact of government regulation and policies including by the DOE and the U.S. Nuclear Regulatory Commission; and other risks and uncertainties discussed in this and our other filings with the SEC. Only after successful completion of our Phase 2 Pilot Plant demonstration will LIS Technologies be able to make realistic economic predictions for a Commercial Facility. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.
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