Lightbridge Receives Approval for Key Patent in Europe for its Innovative Fuel Design
October 12 2017 - 8:00AM
Lightbridge Corporation (NASDAQ:LTBR), a nuclear fuel technology
company, today announced that it has received a Notice of Allowance
from the European Patent Office for an additional patent relating
to Lightbridge’s innovative metallic fuel design. The patent is the
latest among the company’s growing patent assets worldwide as it
prepares for the full-scale deployment of fuel assemblies based on
its metallic fuel rod design.
“With nuclear energy producing half of Europe’s
low-carbon electricity, Europe is an important market for
Lightbridge technology,” said Seth Grae, President and CEO of
Lightbridge Corporation. “Lightbridge’s innovative fuel design can
make Europe’s 181 operating nuclear power plants more efficient and
cost-competitive with other generating sources. This latest patent
adds to a robust patent portfolio in Europe and around the world,
setting the stage for the launch of Lightbridge’s joint venture
with AREVA NP.”
The patent, expected to be issued in the coming weeks, adds to
the patent protection we received through the European Patent
Office’s grant of a patent in 2016 that covered Lightbridge’s
metallic fuel rod design. The new patent is based on Lightbridge’s
2014 Patent Cooperation Treaty (PCT) application and covers an
alternative embodiment of a multi-lobe fuel rod design; an
all-metal pressurized water reactor (PWR) fuel assembly design
incorporating multi-lobe fuel rods based on the alternative
embodiment; and an all-metal PWR fuel assembly design incorporating
multi-lobe fuel rods arranged into a mixed grid pattern, thereby
covering the all-metal fuel assembly design after the most recent
optimization.
About Lightbridge Corporation
Lightbridge (NASDAQ:LTBR) is a nuclear fuel technology
development company based in Reston, Virginia, USA. The Company
develops proprietary next generation nuclear fuel technologies for
current and future reactors. The technology significantly enhances
the economics and safety of nuclear power, operating about 1000° C
cooler than standard fuel. Lightbridge invented, patented and has
independently validated the technology, including successful
demonstration of the fuel in a research reactor with near-term
plans to demonstrate the fuel under commercial reactor conditions.
The Company has assembled a world class development team including
veterans of leading global fuel manufacturers. Four large electric
utilities that generate about half the nuclear power in the US
already advise Lightbridge on fuel development and deployment. The
Company operates under a licensing and royalty model, independently
validated and based on the increased power generated by
Lightbridge-designed fuel and high ROI for operators of existing
and new reactors. The economic benefits are further enhanced by
anticipated carbon credits available under the Clean Power Plan.
Lightbridge also provides comprehensive advisory services for
established and emerging nuclear programs based on a philosophy of
transparency, non-proliferation, safety and operational excellence.
For more information please visit: www.ltbridge.com.
To receive Lightbridge Corporation updates via e-mail, subscribe
at http://ir.ltbridge.com/alerts.cfm .
Lightbridge is on Twitter. Sign up to follow @LightbridgeCorp at
http://twitter.com/lightbridgecorp.
Investor Relations Contact:David
Waldman/Natalya RudmanTel. +1 855-379-9900ir@ltbridge.com
Lightbridge (NASDAQ:LTBR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Lightbridge (NASDAQ:LTBR)
Historical Stock Chart
From Sep 2023 to Sep 2024