Lightbridge Receives U.S. Approval for Key Patent for its Innovative Fuel Design
January 22 2018 - 7:30AM
Lightbridge Corporation (NASDAQ:LTBR), a nuclear fuel technology
company, today announced it has received a notice of allowance for
a key patent from the U.S. Patent and Trademark Office related to
its metallic nuclear fuel assembly design. Lightbridge’s advanced
fuel technology is designed to significantly improve the economics,
performance and safety of nuclear power plants.
This latest patent allowance extends
Lightbridge’s patent portfolio coverage in the United States to an
entire metallic fuel assembly design for Western-type pressurized
water reactors, which comprise two-thirds of those in operation
worldwide. However, Lightbridge’s metallic fuel designs can also be
adapted for use in nearly all other power reactors around the
world.
Lightbridge President and CEO Seth Grae said:
“This latest notice for a U.S. patent further expands the broad
global patent protection already surrounding our fuel. This
particular patent focuses on the fuel assembly design, building on
an earlier US patent involving metallic fuel rod design and other
US patents for a different variant of the seed-and-blanket fuel
assembly design. The intellectual property in our proprietary
fuel designs reflects years of research and tireless effort by our
team, including many of the leading experts within the nuclear
energy field.”
Over the past year, Lightbridge has secured
patents in China, South Korea and the European Union related to its
innovative advanced fuel design. The company is in the process of
finalizing a joint venture with Framatome, a leader in nuclear
fuel, components and reactor services, to further develop and
commercialize metallic fuel for nuclear plants around the
world.
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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Investor Relations Contact:David
Waldman/Natalya RudmanTel. +1 855-379-9900ir@ltbridge.com
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