LIS Technologies Closes $12M Seed Round

Laser technology startup LIS Technologies said it has closed an expanded, oversubscribed $11.88 million seed funding round. The company plans to use the funds to advance the construction of a new facility in Oak Ridge for physical test work and demonstrations, and to expand its staff of scientists and engineers.

The company claims to be the only patented laser uranium enrichment company originating from the U.S. The capital, it said, will help to fuel the revitalization and rebirth of its proprietary, patented advanced laser enrichment technology, which was demonstrated in the 1980’s and early 1990’s and assessed by the National Nuclear Security Administration to a Technology Readiness Level of 4.

The technology, called Condensation Repression Isotope Separation by Laser Activation (CRISLA), was developed by company CTO Jeff Eerkens. Eerkens was appointed to the role following LIS Technologies’ acquisition of CRISLA Inc. last August. Eerkens co-founded both CRISLA Inc and LIS Technologies with CEO Christo Liebenberg.

The technology has potential applications spanning uranium enrichment for nuclear fuel, the synthesis of stable isotopes critical for medical and other scientific research, and in the growing field of quantum computing, particularly in semiconductor manufacturing. For laser enrichment of uranium, this method has sufficient selectivity that will enable the production of low-enriched uranium in a single stage and high-assay, low-enriched uranium in two stages.

According to Liebenberg, the technology has the potential to become the most cost-effective method for uranium enrichment at scale, promising a reliable domestic supply of these fuels for nuclear industry.