English

LIS Technologies closes $11.88 million seed round of financing

88
2024-08-22 15:24:26
See translation

On August 19th, local time, LIS Technologies, a U.S.-based developer of laser uranium enrichment technology, announced the latest closing of an $11.88 million seed round of financing.

 



According to reports, LIS Technologies is a company focused on developing advanced laser technology and is the only U.S.-based laser uranium enrichment company to hold a homegrown patent. The round attracted a number of investors including 28 Ventures Fund, a leading U.S. advanced nuclear technology company, and several active investors in the nuclear technology sector.

The financing was originally set at $1.3 million, but given the overwhelming response and high level of market acceptance of LIST's Laser Isotope Separation Technology (L.I.S.T.), a significant expansion was ultimately realized, underscoring investors' unwavering confidence in the company's vision and growth potential.

The funding will directly assist the Company in relaunching and accelerating the development and application of its proprietary, patented advanced laser enrichment technology. This technology previously demonstrated its potential in the 1980s and early 1990s and was rated Technology Maturity Level (TRL) 4 by the National Nuclear Security Administration (NNSA), signifying a solid foundation of technological maturity.

LIST plans to utilize the additional funding to build a new R&D facility in Oak Ridge, Tennessee to advance physical testing and demonstration programs, and plans to recruit additional top scientists and engineers to join its elite team to drive technology innovation.

The company's CRISLA technology has a wide range of applications, not limited to the enrichment of uranium for nuclear fuel, but also involves the production of stable isotopes in fields such as medicine and scientific research, as well as cutting-edge applications in quantum computing, particularly semiconductor manufacturing.

The technology is capable of producing Low Enriched Uranium (LEU) and Highly Enriched Uranium (HALEU) in a single or dual-stage process, respectively, through the high selectivity of laser light. Its high throughput, high duty cycle, and simplified process flow herald lower capital and operating costs compared to conventional technologies, demonstrating a strong market competitiveness.

We are honored that LIST and its vision to modernize the U.S. nuclear energy industry and its fuel supply chain is receiving such strong support,” said Christo Liebenberg, CEO of LIS Technologies Inc. This marks an important milestone not only for our company, but also a critical step in a new chapter for the U.S. nuclear energy industry. We are confident that the renaissance of L.I.S.T. technology will lead the world into a new era of more cost-effective uranium enrichment, ensure a stable domestic supply of LEU and HALEU fuel, and lay a solid foundation for a thriving and innovative nuclear energy industry. The investment support from the advanced nuclear technology sector is undoubtedly the best proof of our relentless pursuit and strong commitment.”

About LIS Technologies

LIS Technologies Inc. is a U.S.-based company specializing in the development of advanced laser technologies that utilize infrared wavelengths to precisely excite molecules of targeted isotopes for efficient separation. As a leader in the field of laser uranium enrichment, LIST's L.I.S.T. technology not only outperforms traditional methods (e.g., gaseous diffusion, centrifuges, etc.) in terms of energy efficiency, but also demonstrates significant advantages in terms of capital and operating costs. The technology is widely used in LEU production, HALEU supply for SMRs and micro reactors, stable isotope preparation for medical and scientific research, and semiconductor innovation for quantum computing. The company brings together the world's leading nuclear technology experts and works closely with industry leaders, governments and the private nuclear sector to advance the future of nuclear technology.

Source: OFweek

Related Recommendations
  • Measurement of Fine Structure and Spin Interaction of Quantum Materials through TriVista High Resolution Spectral Measurement System

    backgroundThe Jörg Debus team from the Technical University of Dortmund in Germany is dedicated to researching optical quantum information processing and quantum sensing in materials with potential applications. The team mainly studies the fine structure of materials under light fields, such as quantum dots, quantum effects of two-dimensional materials, semiconductor defects in diamonds, and ...

    2024-03-11
    See translation
  • The research team has developed a mechanical luminescent touch screen that can work underwater

    The optical properties of afterglow luminescent particles in mechanical luminescence and mechanical quenching have attracted much attention in various technological applications. A group of researchers from Pohang University of Science and Technology has attracted attention by developing an optical display technology with ALP that can write and erase messages underwater.The team is composed of Pro...

    2024-03-08
    See translation
  • Is CTC technology in the booming new energy industry likely to disrupt the fiber laser industry?

    Recently, the term CTC technology has become a hot topic in the new energy vehicle industry. During the relatively slow period of electrochemical innovation, this structural innovation effectively helped the new energy industry reduce costs and increase efficiency, while also increasing the range of new energy vehicles to a certain extent. However, recently the author learned that the concept of C...

    2023-09-18
    See translation
  • Trumpf collaborates with Mercedes Benz to focus on digital real-time laser maintenance

    In the era of smart factories, Mercedes Benz monitors all fast lasers in its global production network based on cloud, significantly improving system resilience and reducing the risk of machine downtime. The connection between the Mercedes Benz digital ecosystem MO360 and the Trumpf laser for digital prediction services has helped achieve very good dynamic maintenance, and achieved demand based ...

    2024-06-17
    See translation
  • The scientific research team has proposed a modeless Raman fiber laser using a traditional resonant cavity structure

    The pump source, gain material, and resonant cavity are the three elements that make up a laser. Due to the selective effect of the resonant cavity on the lasing frequency, multi longitudinal mode operation is one of the characteristics of fiber lasers based on traditional resonant cavity structures, manifested as periodic beat peaks in the radio frequency (RF) spectrum and periodic fluctuations i...

    2023-08-15
    See translation