Lightbridge Awarded Patent in Eurasia for Innovative Nuclear Fuel Assemblies
June 01 2020 - 8:00AM
Lightbridge Corporation (NASDAQ: LTBR), an advanced nuclear fuel
technology company, today announced that it has received a patent
from the Eurasian Patent Office for its innovative nuclear fuel
assemblies. This is a divisional patent of the 2014 PCT application
and covers an all-metal fuel assembly design with a mixed grid fuel
rod arrangement inside the fuel assembly. Lightbridge is developing
its advanced metallic fuel designed to make both existing and new
nuclear power plants more efficient, more cost competitive, and
even safer.
Seth Grae, President & Chief Executive
Officer of Lightbridge Corporation, said: “We are proud to add this
latest patent to our growing portfolio of intellectual property.
Eurasia includes countries that are signatories to the Eurasian
Patent Convention, such as Russia, Kazakhstan, Belarus, Azerbaijan,
Armenia, Turkmenistan, Tajikistan, Kyrgyz Republic, and Republic of
Moldova. These countries represent an attractive market for
our proprietary technology, which is designed to enhance the
operating safety and efficiency of existing reactors as well as new
reactors.”
About Lightbridge
Corporation
Lightbridge (NASDAQ: LTBR) is an advanced
nuclear fuel technology development company based in Reston,
Virginia, United States. The Company is developing Lightbridge
Fuel™, a proprietary next-generation nuclear fuel technology for
current and future reactors, which significantly enhances the
economics, safety, and proliferation resistance of nuclear power.
Lightbridge invented, patented, and has independently validated its
technology, with goals of preventing climate change and enhancing
national security. The Company has assembled a world-class
development team. Four large electric utilities that generate about
half of America’s nuclear power advise Lightbridge on fuel
development and deployment. The Company plans to operate under a
licensing and royalty model and based on the increased power
generated by Lightbridge-designed fuel expects to offer high ROI
for operators of existing and new reactors. For more
information please visit: www.ltbridge.com.
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Forward Looking Statements
With the exception of historical matters, the
matters discussed in this news release are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements regarding the timing and
outcome of research and development activities, other steps to
commercialize Lightbridge Fuel™ and future governmental support and
funding for nuclear energy. These statements are based on current
expectations on the date of this news release and involve a number
of risks and uncertainties that may cause actual results to differ
significantly from such estimates. The risks include, but are not
limited to: the Company’s ability to commercialize its nuclear fuel
technology; the degree of market adoption of the Company's product
and service offerings; market competition; dependence on strategic
partners; demand for fuel for nuclear reactors; the Company's
ability to manage its business effectively in a rapidly evolving
market; changes in the political environment; risks associated with
the further spread of COVID-19, including the ultimate impact of
COVID-19 on people, economies, and the Company’s ability to access
capital markets; the outcome of the arbitration with the Company’s
former joint venture partner and dissolution of the Enfission joint
venture; as well as other factors described in Lightbridge's
filings with the U.S. Securities and Exchange Commission.
Lightbridge does not assume any obligation to update or revise any
such forward-looking statements, whether as the result of new
developments or otherwise, except as required by law. Readers are
cautioned not to put undue reliance on forward-looking statements.A
further description of risks and uncertainties can be found in
Lightbridge’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2019 and in its subsequent reports on Form 10-Q,
including in the sections thereof captioned “Risk Factors” and
“Forward-Looking Information and Factors That May Affect Future
Results”, as well as in its subsequent reports on Form 8-K, all of
which are filed with the U.S. Securities and Exchange Commission
and available at http://www.sec.gov/ and www.ltbridge.com.
Investor Relations Contact:Matthew
AbenanteDirector of Investor RelationsTel: 646-828-8710
ir@ltbridge.com
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