Lightbridge Receives Australian Patent for Innovative Nuclear Fuel Assemblies
May 26 2020 - 8:00AM
Lightbridge Corporation (NASDAQ: LTBR), an advanced nuclear fuel
technology company, today announced that it has received a patent
from the Australian Patent Office for its innovative nuclear fuel
assemblies. This is a divisional patent of the 2014 PCT application
and covers an alternative embodiment for an all-metal fuel assembly
design incorporating Lightbridge-designed four-lobe helically
twisted fuel rods for use in pressurized water reactors.
Lightbridge is developing its advanced metallic fuel designed to
make both existing and new nuclear power plants more efficient,
more cost competitive, and even safer.
Seth Grae,
President & Chief Executive Officer of Lightbridge Corporation,
said: “Receiving this Australian patent is another important step
forward in the development of our innovative nuclear fuel
technology. Australia is one the world’s leading uranium producers
and increasingly considering pursuing nuclear power generation, it
could become of future market for Lightbridge
Fuel™.”
About Lightbridge
Corporation
Lightbridge (NASDAQ: LTBR) is an advanced
nuclear fuel technology development company based in Reston,
Virginia, United States. The Company is developing Lightbridge
Fuel™, a proprietary next-generation nuclear fuel technology for
current and future reactors, which significantly enhances the
economics, safety, and proliferation resistance of nuclear power.
Lightbridge invented, patented, and has independently validated its
technology, with goals of preventing climate change and enhancing
national security. The Company has assembled a world-class
development team. Four large electric utilities that generate about
half of America’s nuclear power advise Lightbridge on fuel
development and deployment. The Company plans to operate under a
licensing and royalty model and based on the increased power
generated by Lightbridge-designed fuel expects to offer high ROI
for operators of existing and new reactors. For more
information please visit: www.ltbridge.com.
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Forward Looking Statements
With 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, other steps to
commercialize Lightbridge Fuel™ and future governmental support and
funding for nuclear energy. 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 Company’s ability to commercialize its nuclear fuel
technology; 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; changes in the political environment; risks associated with
the further spread of COVID-19, including the ultimate impact of
COVID-19 on people, economies, and the Company’s ability to access
capital markets; the outcome of the arbitration with the Company’s
former joint venture partner and dissolution of the Enfission joint
venture; as well as other factors described in Lightbridge's
filings with the U.S. 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, except as required by law. Readers are
cautioned not to put undue reliance on forward-looking statements.A
further description of risks and uncertainties can be found in
Lightbridge’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2019 and in its subsequent reports on Form 10-Q,
including in the sections thereof captioned “Risk Factors” and
“Forward-Looking Information and Factors That May Affect Future
Results”, as well as in its subsequent reports on Form 8-K, all of
which are filed with the U.S. Securities and Exchange Commission
and available at http://www.sec.gov/ and www.ltbridge.com.
Investor Relations Contact:Porter, LeVay &
Rose, Inc.Matthew AbenanteTel: 212-564-4700 ir@ltbridge.com
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