Lightbridge Reports Progress Towards Fuel Sample Irradiation Testing at Halden Research Reactor in Norway
October 16 2017 - 8:00AM
Lightbridge Corporation (NASDAQ:LTBR), a nuclear fuel technology
company, today provided an update on progress towards irradiation
testing of Lightbridge’s fabricated fuel samples at the Halden
research reactor in Norway. The company plans to conduct full
irradiation testing under commercial reactor operating conditions
in a pressurized water loop of the Halden research
reactor.
On October 2-3, Lightbridge representatives met
with Institute for Energy Technology (IFE) officials in Halden,
Norway. During the visit, Lightbridge inspected the hardware
components manufactured by IFE for the first irradiation rig that
would host a four-rod bundle of Lightbridge’s quad-lobe fuel
rods and would be placed into the Halden research reactor. The
design of the first irradiation rig allows removal of partially
irradiated fuel rods and insertion of new fuel rods to enable
early collection of data from post-irradiation examination.
During the visit, Lightbridge and IFE signed
additional task orders for design and fabrication of a second
irradiation rig that would host another four-lobe bundle
Lightbridge fuel rods. The second irradiation rig will be designed
to constrain radial expansion of the four-rod bundle to simulate
conditions inside an actual commercial fuel assembly.
Lightbridge President and CEO Seth Grae: “We
look forward to the start of testing our nuclear fuel samples at
the Halden research reactor in Norway, which will mark an important
milestone in bringing to market our innovative fuel technology
aimed at making existing and new nuclear plants more efficient and
economical. Working with the team at IFE and the Halden research
reactor has been a pleasure, and they are taking the necessary
steps to advance this process seamlessly. The irradiation testing
program is being structured at the Halden reactor and US commercial
nuclear plants in parallel to demonstrate operation of the first
Lightbridge fuel rod in a commercial reactor in the US as soon as
2021.”
“Over the past two years, we have been working
closely with Lightbridge in preparation for irradiation testing of
their fuel samples at the Halden Reactor and look forward to
continuing this work towards irradiating and analyzing the
Lightbridge fuel in the reactor. Nuclear power plants benefit from
R&D advances and related technical solutions, which is why
Halden’s strong international profile and solid technical basis is
such an asset for the nuclear community,” said Nils Morten Huseby,
President at the Institute for Energy Technology.
“I also commend U.S. Energy Secretary Perry for
his recent directive that the Federal Energy Regulatory Commission
issue grid resiliency rules. These rules would help ensure the
competitiveness of America's commercial nuclear reactors, which
supply the majority of America’s emission-free power. Nuclear
energy is not only the cleanest and safest form of baseload power
generation, but has also demonstrated its reliability and
resilience through recent extreme weather events,” Grae added.
Photos accompanying this release are available
at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/05d811fe-956b-4e57-b8ee-3b0a13eb7599
http://www.globenewswire.com/NewsRoom/AttachmentNg/d6c66d6a-d1b5-45d8-9970-8199b74e522d
http://www.globenewswire.com/NewsRoom/AttachmentNg/572cd073-73da-4998-b9e7-7141e9239ae0
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.
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e-mail, subscribe at http://ir.ltbridge.com/alerts.cfm.
Lightbridge is on Twitter. Sign up to follow
@LightbridgeCorp at http://twitter.com/lightbridgecorp.
The "Mock-up of a Lightbridge metallic fuel rod"
photo is also available at Newscom, www.newscom.com, and via AP
PhotoExpress.
Investor Relations Contact:
David Waldman/Natalya RudmanTel. +1 855-379-9900
ir@ltbridge.com
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