Enfission and Lightbridge Provide Additional Updates Following Successful Demonstration of High-Temperature Coextrusion Proce...
September 27 2019 - 9:32AM
Lightbridge Corporation (NASDAQ: LTBR), a nuclear fuel developer,
and Enfission, LLC, a joint venture of Lightbridge and
Framatome, today provided further updates and announced plans to
publicly display the new Lightbridge Fuel™ surrogate fuel rods,
following the recent successful demonstration of the
high-temperature coextrusion process, a key step in the development
program for producing this advanced nuclear fuel.
Seth Grae, President & Chief Executive Officer of
Lightbridge Corporation and Enfission, commented, “The
demonstration of the Enfission fuel manufacturing process utilizing
an internally developed and patented, high-temperature coextrusion
process is a major accomplishment for both Enfission and
Lightbridge. The surrogate materials were selected to simulate the
behavior of the uranium-zirconium fuel alloy during manufacturing.
These rods will now undergo finishing operations in the coming
weeks, which includes final cleaning and surface polishing steps.
We are quite happy with the results of this first
demonstration–producing coextruded rods up to 12 ft in length. Upon
completion of the finishing operations, some of the rods will be
made available for public display, while others will be
destructively characterized in order to provide validation data for
computational simulations of the extrusion process developed by
Enfission. The combination of data from these surrogate rods and
our computer modeling capability will enable Enfission to
accelerate the further optimization of the Lightbridge Fuel™
manufacturing process to ensure the commercial-scale process is
efficient and produces a consistent, quality product. We look
forward to providing video footage, as well as publicly displaying
these rods for our industry partners, government representatives,
media and investors.”
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.
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.
About Enfission Enfission is a US-based 50-50
joint venture between Lightbridge Corporation and Framatome.
Enfission was established January 25, 2018 to complete the
development, regulatory licensing, and commercial deployment
worldwide of nuclear fuel assemblies based on multi-lobe metallic
twisted fuel technology. Enfission will produce Lightbridge Fuel™
assemblies initially for operators of U.S. commercial nuclear power
plants, then follow with production of Lightbridge Fuel™ assemblies
for other types of reactors and for markets around the world.
Additional information about the Company is available at:
www.enfission.net.
Forward Looking StatementsWith the exception of
historical matters, the matters discussed in this news release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
regarding the timing and outcome of research and development
activities and other steps to commercialization of Lightbridge
Fuel™. These statements are based on current expectations on the
date of this news release and involve a number of risks and
uncertainties that may cause actual results to differ significantly
from such estimates. The risks include, but are not limited to, the
degree of market adoption of the Company's product and service
offerings; market competition; dependence on strategic partners;
demand for fuel for nuclear reactors; the Company's ability to
manage its business effectively in a rapidly evolving market; as
well as other factors described in Lightbridge's filings with the
Securities and Exchange Commission. Lightbridge does not assume any
obligation to update or revise any such forward-looking statements,
whether as the result of new developments or otherwise. Readers are
cautioned not to put undue reliance on forward-looking
statements.
Investor Relations Contact:David
Waldman/Natalya RudmanTel. +1 855-379-9900 ir@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