LIS Technologies Inc. has acquired the K-1580 building at the East Tennessee Technology Park Heritage Center in Oak Ridge for $6.2 million. The three-level, 37,803 square foot property sits on the footprint of the former K-25 gaseous diffusion plant and stands directly adjacent to the company's leased test demonstration facility at K-1330.
The company develops patented laser uranium enrichment technology and describes itself as the only firm of United States origin working in that field. Executive Chairman and CEO Jay Yu said the purchase opens a new chapter for the company and supports the use of its enrichment technology across medical and stable isotopes as well as nuclear fuel cycle applications.
K-1580 will house production capability for stable and medical isotopes. Hospitals depend on a supply of precursor isotopes to produce the diagnostic and treatment isotopes used in patient care. Stable isotopes are also drawing interest from advanced electronics and quantum computing suppliers, where they can improve thermal management and processor performance.
President and co-founder Christo Liebenberg said the building will serve as the pilot plant for the company's Stable and Medical Isotope Laser Enrichment program, will host a pilot plant for uranium hexafluoride deconversion, and will provide office space for more than 100 additional employees. Pairing deconversion with enrichment gives the company a wider position in the fuel cycle.
The purchase follows the company's January announcement of a planned investment of more than $1 billion in laser uranium enrichment capacity in Tennessee, and adds to a growing cluster of nuclear fuel work around Oak Ridge.
Source: Newsfile - https://www.newsfilecorp.com/release/309229/LIS-Technologies-Announces-6.2M-Acquisition-of-the-37800sqft-K1580-Facility-at-the-Historic-Heritage-Center-in-Oak-Ridge-Tennessee-to-Expand-its-Medical-and-Stable-Isotope-and-Nuclear-Fuel-Cycle-Initiatives