LIS Technologies Inc. Appoints Former U.S. Congressman John M. Shimkus as its Chair of Energy Policy

/EIN News/ -- Oak Ridge, Tennessee, Sept. 03, 2024 (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 appointed former U.S. Congressman of Illinois' 15th Congressional District, John M. Shimkus, as its Chair of Energy Policy.

“Serving the American people has been a lifelong passion, and I am thrilled to embark on this new endeavor with LIS Technologies,” said John M. Shimkus, Chair of Energy Policy of LIS Technologies Inc. “I have long been a proponent of nuclear energy, and I am energized by the resurgence I’m seeing in the industry both in the United States and among our allies. There is a significant capability gap within the country that must be addressed for us to reclaim our leadership role, and technologies like the one LIST is working to reintroduce are essential for ensuring we maintain a position of strength in the industry. I am excited about this opportunity and will do everything in my power to help the Company advance its technology and revitalize the United States' nuclear energy supply chain.”

Mr. Shimkus, a graduate of the United States Military Academy at West Point, began his career as an Army officer before transitioning to public service. Over his 24 years in Congress, he became a key figure in energy policy, particularly as a senior member of the House Energy and Commerce Committee, where he served as Chairman and later as Republican Leader of its Environment and Climate Change Subcommittee. Additionally, he represented the United States in the NATO Parliamentary Assembly from 2001 to 2014 and was reappointed to the role by Speaker Paul Ryan in 2017.

Figure 1 - LIS Technologies Inc. Appoints former U.S. Congressman of Illinois' 15th Congressional District, John M. Shimkus, as its Chair of Energy Policy.

Throughout his congressional career, Mr. Shimkus played a significant role in shaping U.S. energy policy, strongly advocating for nuclear energy and backing efforts to enhance the nation's infrastructure and environmental regulations. Following his retirement from Congress, he joined KBS Group as a senior advisor, providing expertise in policy and government relations. His numerous achievements have earned him global recognition, including the 2005 Truman-Reagan Medal of Freedom, the Grand Cross of the Order of the Lithuanian Grand Duke Gediminas, and the Order of the Three Stars from Latvia.

“Mr. Shimkus is a seasoned professional with a proven track record of supporting policies that bolster the nation’s energy security and public safety,” said Christo Liebenberg, Chief Executive Officer of LIS Technologies Inc. “He brings a unique perspective and pragmatism from his years of service in Congress, along with an extensive network of relationships. I am delighted to welcome him to LIS Technologies and am confident that he will play a pivotal role in the future of both this Company and the domestic nuclear energy industry.”

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. 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.

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