New York, N.Y., Nov. 28, 2023 (GLOBE NEWSWIRE) -- LIS Technologies Inc. (“LIST” or “the Company”), a USA based, proprietary developer of a patented advanced laser enrichment technology, announced that it has signed a Memorandum of Understanding with Curio Legacy Ventures, a subsidiary of Curio Solutions, to explore beneficial applications of the LIS technology for efficient recovery of usable uranium isotopes from commercial used nuclear fuel (UNF).
Curio is the owner and developer of the NuCycle® (NuCycle) technology, which intends to produce, on a global scale, a wide range of isotopes with existing and foreseen market demand via its advanced recycling technology. These products range from uranium for existing reactors, transuranic-based fuels for advanced reactors, and a wide range of isotopes for medical, industrial, space, and defense applications. This collaborative initiative is geared towards determining the feasibility of the efficient enrichment of uranium recovered from UNF via laser isotope separation, and establishing a framework and procedures for the storage, management, and transportation of products derived from the prospective activities of a NuCycle facility as it relates to this collaboration.
Ed McGinnis, CEO of Curio, expressed his enthusiasm about the MOU, stating, “We are delighted to collaborate with LIS Technologies to greatly increase the value of recycled uranium in a manner that is not only environmentally responsible but also economically efficient.” McGinnis emphasized, “NuCycle represents a step change in nuclear recycling technology, and this collaboration underscores our commitment to advancing the full potential of what recycling UNF can offer to the nuclear industry.” The joint efforts and future endeavors that may arise from this MOU hold the promise of revolutionizing the nuclear fuel market.
“The memorandum of understanding with Curio represents a strategic evolution for the Company,” said Christo Liebenberg, CEO of LIS Technologies Inc. “Our patented CRISLA technology stands at the forefront of innovation, and this collaboration with Curio presents an invaluable opportunity to leverage the unique strengths of our respective entities and explore the practical applications for our patented LIS technology, particularly in the context of uranium and the expanding domestic nuclear energy sector.”
The proprietary laser-based technique developed by LIST offers greater energy-efficiency and has the potential to be deployed with highly competitive capital and operational costs. This technology is versatile, with 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 the manufacturing of semiconductor technologies. A United States Patent and Trademark Office issued patent safeguards the company’s unique process for selectively exciting and harvesting a specific isotopic species in a supersonic low-pressure flow chamber.
About Curio Legacy Ventures
Established with the primary mission to address the critical challenge posed by used nuclear fuel disposition, Curio is pioneering technologies to develop a closed fuel cycle. Its flagship technology NuCycle® is a patented process for nuclear fuel recycling. This innovative technology not only tackles environmental and security concerns but also unlocks vast market opportunities, supporting the nuclear industry of tomorrow.
Imagining a future where nuclear power not only sustains but actively advances global prosperity, Curio is dedicated to unleashing the full potential of nuclear technologies and ushering in THE SECOND NUCLEAR ERA®. With an unwavering commitment to pushing the boundaries of innovation, Curio aims to establish clean nuclear power as the cornerstone of a prosperous and sustainable future. Everyone is invited to join in shaping the next chapter of nuclear excellence with Curio.
About LIS Technologies Inc.
LIS Technologies Inc. (LIST) is a USA based, proprietary developer of a patented advanced laser technology, making use of infrared wavelengths 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 uranium enrichment, 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), 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.
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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. 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.
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