LIS Technologies announces $1.38 billion investment in Oak Ridge, on heels of $64 million total capital raise
The company also acquired the $8 million 206-acre duct island, which has now been rebranded to be called "LIST Island."
Last Tuesday, we announced the closure of LIS Technologies’ (LIST) fourth fundraising round at $17 million. The round was oversubscribed by more than 200 percent. This brought the company’s total raise to date to over $64 million.
On Friday, LIST added to its long list of developments that the company will create 203 jobs. It will also invest $1.38 billion in its future flagship, commercial-scale laser-based uranium enrichment facility. This facility is located on the historic footprint of the K-25 Uranium Enrichment Site in Oak Ridge.
This will be the state’s third-largest nuclear-related investment since the creation of the Tennessee Department of Economic and Community Development’s (TNECD) Nuclear Energy Fund. LIS Technologies was the eighth company to locate in Tennessee for its commercial operations. The company is utilizing the Nuclear Energy Fund.
“By creating the Nuclear Energy Fund, we have uniquely positioned our state at the forefront of cutting-edge R&D, and I look forward to the positive impact this project will have for Tennesseans across our state,” said Tennessee Governor Bill Lee.
LIST, which stands for Laser Isotope Separation Technologies, said it acquired the 206-acre duct island for about $8 million. They plan to rebrand it with the name “LIST Island.” With this news, Oak Ridge, Tennessee, is now expected to become the site of the world’s first US-origin commercial laser uranium enrichment facility. These efforts will support U.S. utilities, next-generation reactor developers, and national defense requirements. At the same time, they will help to reestablish a resilient domestic nuclear fuel supply chain.
“Selecting Oak Ridge is both a strategic and symbolic decision for LIS Technologies,” said Jay Yu, Executive Chairman and CEO of LIST.“This community represents the foundation of America’s enrichment capability and the future of its clean energy and national security mission. Our laser enrichment technology fundamentally changes the economics of enrichment, enabling faster deployment, lower capital intensity, and long-term cost advantages.”
Subject to licensing, permitting, and final investment decisions, the company intends to break ground and begin site preparation and civil construction in 2026. LIST is targeting initial commercial operations before 2030. This will position its laser enrichment facility to meet the accelerating demand for domestically sourced uranium enrichment.
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