Single large investor leads LIS Technologies’ fourth oversubscribed round at $17 million
To date, the company has raised more than $64 million to advance the only USA-origin and patented laser uranium enrichment technology.
The Oak Ridge-based advanced laser technology company, LIS Technologies Inc. (LIST), announced its fourth oversubscribed round of $17 million (oversubscribed by 240%).
To date, the company has raised more than $64 million to advance its patented laser technology for isotope separation, which can be used primarily for enriching uranium to produce nuclear fuel (LEU and HALEU) for reactors.
According to LIST, the round attracted participation from a single large, accredited investor that accounted for the majority of the initial raise, though the individual was not named. Joining the round, LIST said, were some returning advanced nuclear technology investors and company insiders at LIST.
“Irrespective of market conditions, repeat investors as well as new, prominent investors, have steadily supported the LIST’s growth and pursuit of its objectives, chief amongst them the rebirth of the only U.S.-origin and patented laser uranium enrichment technology,” said Jay Yu, Executive Chairman and CEO of LIST. “This latest funding round enables us to continue apace with our rapid growth plan and mission of eventually taking a leading position in the United States nuclear fuel supply chain.”
LIS Technologies is one of six domestic U.S. companies awarded the Indefinite Delivery/Indefinite Quantity (IDIQ) contract by DOE in 2024 to participate in the up to $3.4 billion Low-Enriched Uranium (LEU) Enrichment Acquisition Program to build back the nuclear fuel supply chain, with contracts lasting for up to 10 years.
Once commercialized, the cost of uranium enrichment will drastically come down, and LIST will help reinforce U.S. energy security and domestic nuclear capabilities,” said Christo Liebenberg, President and Co-Founder of LIST. “The funds will be utilized to continue the optimization activities of our Test Demonstration Facility, scaling of our hardware, site preparation for a commercial facility, as well as supporting our growing number of world-class experts.”
The funding secured in this raise will enable the Company to advance its enrichment capabilities and infrastructure in Oak Ridge. The company said it expects to announce an update on its facility progress soon.
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