Lightbridge Receives Approval for Key Patent in China for its Innovative Fuel Design
October 18 2017 - 7:30AM
Lightbridge Corporation (NASDAQ:LTBR), a nuclear fuel technology
company, today announced it has received a Notice of Allowance in
the People’s Republic of China for another key patent relating to
its innovative metallic fuel design, which, once issued, will
represent the Company’s fourth patent in China as it prepares for
full-scale deployment of its innovative fuel designs in Asia and
around the world.
Similar to the EU patent announced last week,
the new Chinese patent 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, covering the all-metal fuel assembly design after the
most recent optimization.
China has 37 nuclear power reactors in operation
and 20 under construction. Additional reactors are planned, which
would represent a more than a three-fold increase in nuclear
capacity to at least 58 gigawatts by 2020-21, then up to 150
gigawatts by 2030, and much more by 2050. This growth would make
China the largest market in the world for nuclear power, according
to the World Nuclear Association.
Lightbridge President and CEO Seth Grae said:
“Lightbridge fuel aims to enhance the safety and economics of
China’s existing nuclear power plants and offers significant
additional benefits for new reactors. Our innovative metallic fuel
could produce 30 percent more power from new nuclear power plants,
reducing upfront capital costs to build them by 13 percent. Based
on an estimated capital cost of $4,500 per kilowatt of generating
capacity, China alone could save approximately $85 billion in
capital costs to deploy an additional 150 gigawatts of nuclear
power.”
“China’s nuclear energy sector could benefit
greatly from Lightbridge fuel technology, by making both existing
and new nuclear power plants more efficient and economical. Such
improvements would support China’s drive to deploy emission-free
nuclear power, improving our nation’s air quality as well as adding
reliable power generation,” said Xingping Hou, Co-chairman of
Lightbridge’s Board of Directors.
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. +1 855-379-9900
ir@ltbridge.com
Lightbridge (NASDAQ:LTBR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Lightbridge (NASDAQ:LTBR)
Historical Stock Chart
From Apr 2023 to Apr 2024