New York, N.Y., March 07, 2024 (GLOBE NEWSWIRE) -- LIS Technologies Inc. (“LIST” or “the Company”), a proprietary developer of advanced laser technology and the only USA-origin patented laser uranium enrichment company, just announced that it has appointed Randall L. Beatty, Ph.D., former Science Advisor to the U.S. Ambassador to Russia and distinguished research and development staff member in the Nuclear Security and Isotope Technology Division at Oak Ridge National Laboratory, as its Director for Regulatory Affairs.
“The United States has shown a strong interest in finding safe, domestic energy solutions,” said Randall L. Beatty, Ph.D., Director for Regulatory Affairs for LIS Technologies Inc. “Nuclear energy presents a promising option to meet this demand. However, harnessing its full potential requires advanced technologies and innovative ideas. With CRISLA being the only US-origin laser enrichment technology, I'm convinced that the work being done by the LIST team will become increasingly vital in the near future and I am excited to be a part of this endeavor.”
Dr. Randy Beatty is an international fuel cycle specialist with decades of technical expertise in export control, scientific cooperation, nuclear fuel cycle, and uranium processing with an emphasis on enrichment and fuel fabrication. Dr. Beatty retired from Oak Ridge National Laboratory in 2019, where he was a distinguished research and development staff member in the Nuclear Security and Isotope Technology Division.
Figure 1 - LIS Technologies Inc. Appoints Randall L. Beatty, Ph.D., as its Director for Regulatory Affairs.
He also served as a Laboratory Lead at the Department of Energy’s Office of Nuclear Energy for China Cooperation; was the National Nuclear Security Administration Laboratory Lead for South African HEU Minimization; and Program Manager/Section Head for the International Project on Innovative Reactors and Fuel Cycles (INPRO) at the International Atomic Energy Agency (IAEA) in Vienna. He was also a senior diplomatic officer in Moscow Russia and the Deputy Executive Director for the International Science and Technology Center (ISTC).
“Dr. Beatty is a very skilled and experienced professional and we are very pleased to welcome him to LIS Technologies,” said Christo Liebenberg, Chief Executive Officer of LIS Technologies Inc. “His extensive experience in addressing international issues, adept problem-solving skills and ingrained understanding of the technological requirements and regulatory landscape are qualities we will look to draw on to further enhance shareholder value and advance our laser technologies.”
The United States is currently undergoing a strategic restructuring of its nuclear energy sector, aimed at enhancing competitiveness on the global stage and reinforcing its energy independence. Accordingly, the Nuclear Fuel Security Act, which directs the Department of Energy (DOE) to prioritize activities to increase domestic production of low enriched uranium (LEU) and accelerate efforts the ensure the availability to high-assay low-enriched uranium (HALEU), overwhelmingly passed the Senate for inclusion in the fiscal year 2024 National Defense Authorization Act.
“It is a pleasure to welcome Dr Beatty to the team,” said Jeffrey L. Binder, Ph.D., MBA, Technical Nuclear Advisor of LIS Technologies Inc. “His grasp of policies and profound insight into the marketplace will serve as invaluable resources for the coming future. I am eagerly anticipating the next phase in the evolution of our Company.”
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 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.
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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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