LIS Technologies Inc. Achieves TRL-4 in an Independent Technical Readiness Assessment of its Patented Laser Enrichment Technology (CRISLA)

Oak Ridge, Tennessee, March 18, 2025 (GLOBE NEWSWIRE) -- LIS Technologies Inc. ("LIST” or "the Company”), a proprietary developer of advanced laser technology and the only USA-origin and patented laser uranium enrichment company, today announced that it has convened a panel of independent reviewers to perform a Technology Readiness Level Assessment (TRA) of the CRISLA-3G technology at the LIST facility in Oak Ridge, TN during the week of March 11 - 13, 2025.

The CRISLA-3G laser isotope separation technology was evaluated and determined to meet all elements required for TRL-4, conforming to the Department of Energy guide DOE G 413.3-4A. It shows that all critical components were successfully validated in a laboratory environment, supported by experimental results from the integrated system.

The TRA Team leveraged a well-established TRA process developed and implemented by the U.S. Department of Energy (DOE) Office of Environmental Management (EM). Each Critical Technology Element (CTE) was assessed against TRL-4, TRL-5, and TRL-6 calculator elements, which address technical, manufacturing, and programmatic factors. The Technology Readiness Level (TRL) is a technology maturity system ranging from TRL-1 (basic principles observed and reported) to TRL-9 (actual system operated over full range of expected conditions). The TRL rating system was developed by NASA and DoD to evaluate the deployment readiness of a given technology and has been adopted by agencies across the federal government.

"We are very pleased that the independent Technology Readiness Assessment team scored our TRL at 4, meeting 27 out of 27 criteria,” said Christo Liebenberg, CEO and Co-Founder of LIS Technologies Inc. "Also identified were the critical technical elements (CTE's) to progress through TRL5, 6 and 7 in the coming years. We have high confidence that we can meet all these CTEs in our roadmap to commercialization.”

"With our interaction with the TRL assessment team, I feel reassured that our technology is moving forward in the right direction,” said Viktor Chikan, Ph.D., Co-Chief Technical Officer of LIS Technologies Inc. "In my view, the TRL assessment provides the necessary transparency for both investors and the technical team to execute on the project plan and realize the commercial enrichment facility based on CRISLA technology.”

"This is a very important milestone for the advancement of CRISLA technology,” said Keith Everly Head of Security and IP Management of LIS Technologies Inc. "I am pleased that our self-assessment of our progress with the CRISLA technology process is in good alignment with the assessment of a qualified independent board of reviewers.”

"The Technology Readiness Level framework is essential for guiding innovative technologies toward full-scale commercialization,” said Jay Yu, Executive Chairman and President of LIS Technologies Inc. "This review of our patented CRISLA technology underscores the substantial progress LIST's technical team has achieved in preparing the system for the demonstration activities required for TRL 5. Successfully completing those demonstration steps will be a major threshold in establishing our leadership in this space.”

About LIS Technologies Inc.

LIS Technologies Inc. (LIST) is a USA based, proprietary developer of a patented advanced laser technology, making use of infrared lasers to selectively excite the molecules of desired isotopes to separate them from other isotopes. The Laser Isotope Separation Technology (L.I.S.T) has a huge range of applications, including being the only USA-origin (and patented) laser uranium enrichment company, and several major advantages over traditional methods such as gas diffusion, centrifuges, and prior art laser enrichment. The LIST proprietary laser-based process is more energy-efficient and has the potential to be deployed with highly competitive capital and operational costs. L.I.S.T is optimized for LEU (Low Enriched Uranium) for existing civilian nuclear power plants, High-Assay LEU (HALEU) for the next generation of Small Modular Reactors (SMR) and Microreactors, the production of stable isotopes for medical and scientific research, and applications in quantum computing manufacturing for semiconductor technologies. The Company employs a world class nuclear technical team working alongside leading nuclear entrepreneurs and industry professionals, possessing strong relationships with government and private nuclear industries.

In 2024, LIS Technologies Inc. (Laser Isotope Separation Technologies) was selected as one of six domestic companies by the U.S. Department of Energy (DOE) to participate in the Low-Enriched Uranium (LEU) Enrichment Acquisition Program. This initiative allocates up to $3.4 billion overall, with contracts lasting for up to 10 years. Each awardee is slated to receive a minimum contract of $2 million.

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Forward Looking Statements

This news release contains "forward-looking statements" within the meaning 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 mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", "will", "should", "could", "would" or "may" and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control. For LIS Technologies Inc., particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following which are, and will be, exacerbated by any worsening of global business and economic environment: (i) risks related to the development of new or advanced technology, including difficulties with design and testing, cost overruns, development of competitive technology, loss of key individuals and uncertainty of success of patent filing, (ii) our ability to obtain contracts and funding to be able to continue operations and (iii) risks related to uncertainty regarding our ability to commercially deploy a competitive laser enrichment technology, (iv) risks related to the impact of government regulation and policies including by the DOE and the U.S. Nuclear Regulatory Commission; and other risks and uncertainties discussed in this and our other filings with the SEC. Only after successful completion of our Phase 2 Pilot Plant demonstration will LIS Technologies be able to make realistic economic predictions for a Commercial Facility. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.