Lightbridge Receives Notification of Patent Grant from the Korean Intellectual Property Office
October 03 2019 - 8:30AM
Lightbridge Corporation (NASDAQ: LTBR), a nuclear fuel technology
development company, today announced that it has received a Notice
of Patent Grant for a divisional patent from the Korean
Intellectual Property Office (KIPO) related to one of the
embodiments of its fuel assembly design incorporating metallic fuel
rods. This new patent is the latest addition to the Company’s
growing intellectual property portfolio and follows similar
approvals in other markets worldwide. Lightbridge’s advanced
nuclear technology is designed to significantly improve the
economics, performance and safety of nuclear power plants.
Seth Grae, Chief Executive Officer of Lightbridge,
commented, “This latest patent in Korea further expands the broad
global patent protection already surrounding our fuel design. Korea
is an important market for our fuel, with 24 nuclear reactors that
provide about one-third of South Korea's electricity. Additionally,
South Korea is one of the world's most prominent exporters of
nuclear technology.”
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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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. Investor Relations Contact:
David Waldman/Natalya Rudman Tel. +1 855-379-9900
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