Lightbridge Announces Award of New Patent Covering Territories Across Eurasia
June 13 2019 - 9:00AM
Lightbridge Corporation (NASDAQ: LTBR), a nuclear
fuel technology development company, today announced that it has
received a Notice of Allowance for a new patent related to its
innovative metallic fuel rod and fuel assembly design in countries
that are signatories to the Eurasian Patent Convention. These
countries include Russia, Kazakhstan, Belarus, Azerbaijan, Armenia,
Turkmenistan, Tajikistan, Kyrgyz Republic, and Republic of
Moldova. This patent is the latest addition to the Company's
growing intellectual property portfolio and follows similar
approvals in other markets worldwide.
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.
Seth Grae, Chief Executive Officer of Enfission, stated, “We
continue to aggressively expand our IP portfolio around the world
in advance of commercialization. In addition to the inherent
economic and safety benefits of fuel, our fuel enables longer
refueling cycles, which is key to extending the life of existing
plants.”
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, which significantly
enhances the economics and safety of nuclear power, operating about
1000° C cooler than standard fuel. In January 2018, Lightbridge and
Framatome, Inc. formed a 50-50 joint venture, Enfission, LLC, to
develop, license, manufacture, and sell nuclear fuel assemblies
based on Lightbridge-designed metallic fuel technology and other
advanced nuclear fuel intellectual property. Enfission has the
exclusive rights to this technology and is responsible for the
development of manufacturing processes and fuel assembly designs
for pressurized water reactors (PWRs), boiling water reactors
(BWRs), water-cooled small modular reactors, and water-cooled
research reactors developed around this intellectual property. PWRs
and BWRs constitute the most widely used reactor types in the
world. Four large electric utilities that generate about half the
nuclear power in the US already advise Lightbridge on fuel
development and deployment. In addition to distributions from
Enfission based on the parties’ ownership interest in the joint
venture, Lightbridge anticipates receiving future licensing
revenues in connection with sales by Enfission of nuclear fuel
incorporating its intellectual property. 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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