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New York, N.Y., Aug. 14, 2023 (GLOBE NEWSWIRE) — LIS Technologies Inc. (“LIST” or “the Company”), a USA primarily based, proprietary developer of a patented superior laser expertise with a variety of purposes together with uranium enrichment, with a number of main benefits over conventional strategies reminiscent of gasoline diffusion and centrifuges, has simply introduced that its wholly-owned subsidiary, Laser Isotope Separation Technologies Corp., has reached a share buy settlement to amass all the issued and excellent shares of CRISLA Inc.
CRISLA, Inc. is the proprietary developer of a patented superior laser expertise, making use of particular wavelengths to selectively excite the molecules of desired isotopomers to separate them from different isotopomers. A United States Patent and Trademark Office issued patent protects the corporate’s distinctive course of for enriching a particular isotope of uranium in a supersonic low-pressure stream chamber. This expertise has an enormous vary of purposes, together with uranium enrichment for nuclear gas, the manufacturing of steady isotopes for medical and scientific analysis, and purposes in quantum computing manufacturing for semiconductor applied sciences.
Following the closing of the acquisition, Jeff W. Eerkens Ph.D. might be appointed as Chief Technical Officer (CTO) and Christo J. Liebenberg might be appointed as the brand new Chief Executive Officer (CEO) of LIS Technologies Inc.
Jeff W. Eerkens obtained an MS diploma in Nuclear Engineering (1957) and a Ph.D. in Engineering Science (1960) from the University of California at Berkeley. A registered nuclear engineer within the State of California, he explored Molecular Laser Isotope Separation (MLIS) of gaseous UF6 and hexafluorides MoF6 and SF6. Now thought-about the daddy of Laser Enrichment of UF6, he utilized CO2 and CO infrared lasers and two totally different isotope harvesting methods labeled CRISLA (Condensation Repression Isotope Separation by Laser Activation) and CHEMLIS (Chemically Harvested and Extracted MLIS).
Dr. Eerkens is a robust advocate for nuclear energy and revealed a guide titled “The Nuclear Imperative – A Critical Look at the Approaching Energy Crisis”, 2nd ed (2010). He has hands-on expertise with nuclear reactors, uranium enrichment, nuclear rockets, and house satellite tv for pc engineering. In 1973, he authored the “Rocket Plume Radiation Handbook”, Vols I, II, and VII, for the USAF, FTD, WPAFB, Dayton, Ohio.
“The dearth of viable uranium enrichment solutions in the United States will have dire consequences for the future of nuclear energy if it isn’t rectified quickly,” stated Dr Jeff Eerkens, Co-Founder and Chief Technical Officer of LIS Technologies Inc. “Thankfully, accelerating efforts to advance the CRISLA laser enrichment process are driven by a growing recognition of a compelling need for new US enrichment capability to support nuclear power generation, given recent dramatic changes in the geopolitical situation and climate change issues. The agreement with LIS Technologies elevates our platform and will enhance our ability to deliver a significant breakthrough for the United States’ uranium enrichment capabilities.”
Christo J. Liebenberg obtained his MS diploma in Physics from Stellenbosch University (1991) in South Africa. He is an completed skilled with 35 years of numerous technical & administration expertise in superior laser & optical programs and purposes. Most of this expertise is within the area of Laser Isotope Separation of UF6, and he was concerned in a number of labeled laser enrichment processes on three totally different continents. He (co-)authored not less than ten patents and technical papers/studies, principally within the labeled house.
Mr. Liebenberg began his profession within the 1980’s on the Atomic Energy Corporation of South Africa the place he spearheaded the optimization of enrichment parameters for the Molecular Laser Isotope Separation (MLIS) course of. By the late 90’s, his journey led him to Australia the place he later joined Silex Systems Ltd as their Laser Manager and continued this function at Global Laser Enrichment (GLE) in Wilmington, NC the place he performed a key function within the structure of the Test Loop Facility. Over the final 10 years he was intricately concerned with the R&D of state-of-the-art CO2 laser programs to generate EUV (Extreme Ultraviolet), which is used to fabricate fashionable semiconductor chips.
Championing CRISLA’s Revival: Mr Liebenberg has at all times stored an in depth eye on developments of Dr. Eerkens’s CRISLA course of. In 2016, he did a essential danger evaluation of CRISLA-3G, which included growing a scaling mannequin of the method. Enthralled by spectacular enrichment outcomes, favorable techno-economics, seismic geo-political occasions, the appearance of SMR’s and the DOE quest for a US-origin enrichment expertise, he acknowledged the necessity to resurrect the CRISLA course of. He co-founded CRISLA, Inc with Dr Eerkens in June 2021.
“We are very excited to enter into this agreement with LIS Technologies in this crucial junction in time for the entire nuclear industry. The transaction will provide the company with the platform to grow and expand upon our current intellectual property and proprietary technologies,” stated Christo Liebenberg, Co-Founder and Chief Executive Officer of LIS Technologies Inc. “We are confident that the CRISLA laser enrichment process will prove to be the most cost effective and best suited technology to produce Low Enriched Uranium (LEU) for existing commercial reactors as well as High-Assay Low Enriched Uranium (HALEU) for the advanced smaller modular reactors currently under development.”
Raw uranium have to be mined out of the bottom and milled into uranium-oxide (U3O8) earlier than being shipped to services that convert it into uranium-hexafluoride (UF6), which is appropriate for enrichment. The enriched UF6 is distributed to gas fabrication services the place it’s transformed into UO2 and fabricated into accident resistant gas pellets.
According to Columbia’s Center for Global Energy Policy, Russia is the one industrial supply for this high-assay low-enriched uranium and has accounted for practically 40% of world uranium conversion providers in 2020. From 1993 to 2013, downblended Russian high-enriched uranium (HEU) supplied about half of the enriched uranium utilized in US energy reactors, as a part of the “Megatons to Megawatts” program.
“Unfortunately, the U.S. lacks capacity to fully produce enriched uranium, and it has resulted in an unsafe reliance on Russia—who could cut off uranium exports to us at any time,” said Senator Risch (R-ID) in his introduction of the Reduce Russian Uranium Imports Act, a bipartisan invoice to ban the importation into the United States of low-enriched uranium of Russian origin.
The United States authorities, nevertheless, has taken steps to develop its home capabilities. Senator Manchin (D-WV), alongside Senator Barrasso (R-WY) and Senator Risch (R-ID), launched the Nuclear Fuel Security Act to determine a nuclear gas program with the aim of onshoring nuclear gas manufacturing to assist the event of superior reactors and the operation of the United States’ light-water reactor fleet. Furthermore, the US Congress, by the Inflation Reduction Act, provided $700 million to assist the event of a home provide chain for high-assay low-enriched uranium. In addition, the HALEU Consortium was established on December 7th, 2022, beneath the Energy Act of 2020 to support the supply of high-assay low-enriched uranium for civilian home analysis, growth, demonstration, and industrial use.
About LIS Technologies Inc.
LIS Technologies Inc. (LIST) is a USA primarily based, proprietary developer of a patented superior laser expertise, making use of particular wavelengths to selectively excite the molecules of desired isotopomers to separate them from different isotopomers. The Laser Isotope Separation Technology (L.I.S.T) has an enormous vary of purposes, together with uranium enrichment, and a number of other main benefits over conventional strategies reminiscent of gasoline diffusion and centrifuges. The LIST proprietary laser-based course of is extra energy-efficient and has the potential to be deployed with extremely aggressive capital and operational prices. L.I.S.T is optimized for High-Assay Low-Enriched Uranium (HALEU) for the following technology of Small Modular Reactors (SMR) and civil nuclear gas, the manufacturing of steady isotopes for medical and scientific analysis, and purposes in quantum computing manufacturing for semiconductor applied sciences. The Company employs a world class nuclear technical staff working alongside main nuclear entrepreneurs and trade professionals, possessing sturdy relationships with authorities and personal nuclear industries.
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Forward Looking Statements
This information launch incorporates “forward-looking statements” throughout the which means 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 imply statements associated to future occasions, which can affect our anticipated future enterprise and monetary efficiency, and infrequently include phrases reminiscent of “expects”, “anticipates”, “intends”, “plans”, “believes”, “will”, “should”, “could”, “would” or “may” and different phrases of comparable which means. These forward-looking statements are primarily based on info accessible to us as of the date of this information launch and symbolize administration’s present views and assumptions. Forward-looking statements will not be ensures of future efficiency, occasions or outcomes and contain recognized and unknown dangers, uncertainties and different components, which can be past our management. For LIS Technologies Inc., explicit dangers and uncertainties that might trigger our precise future outcomes to vary materially from these expressed in our forward-looking statements embody however will not be restricted to the next that are, and might be, exacerbated by any worsening of world enterprise and financial surroundings: (i) dangers associated to the event of latest or superior expertise, together with difficulties with design and testing, value overruns, growth of aggressive expertise, lack of key people and uncertainty of success of patent submitting, (ii) our potential to acquire contracts and funding to have the ability to proceed operations and (iii) dangers associated to uncertainty concerning our potential to commercially deploy a aggressive laser enrichment expertise, (iv) dangers associated to the affect of presidency regulation and insurance policies together with by the DOE and the U.S. Nuclear Regulatory Commission; and different dangers and uncertainties mentioned on this and our different filings with the SEC. Readers are cautioned to not place undue reliance on these forward-looking statements, which apply solely as of the date of this information launch. These components might not represent all components that might trigger precise outcomes to vary from these mentioned in any forward-looking assertion. Accordingly, forward-looking statements shouldn’t be relied upon as a predictor of precise outcomes. We don’t undertake to replace our forward-looking statements to replicate occasions or circumstances which will come up after the date of this information launch, besides as required by regulation.
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