Lightbridge Receives Patent from the Korean Intellectual Property Office for a Manufacturing Method for its Metallic Fuel Rod...
August 24 2020 - 08:00AM
Lightbridge Corporation (NASDAQ: LTBR), an advanced nuclear fuel
technology company, further strengthened its intellectual property
portfolio today, announcing that it has received a Notification of
Patent Grant from the Korean Intellectual Property Office for a
divisional patent application relating to a co-extrusion method of
manufacturing Lightbridge four-lobe helically twisted metallic fuel
rods, based on its 2011 Patent Cooperation Treaty (PCT) patent
application.
Seth Grae, President & Chief Executive
Officer of Lightbridge Corporation, commented, “Our latest patent
award from the Korean Intellectual Property Office for a method to
manufacture our Lightbridge Fuel™ rods further enhances our growing
intellectual property portfolio. There are currently 24 reactors in
South Korea that provide one-third of the county’s electricity,
making this an attractive potential market for our fuel.
“We are in what has become a global race to
developing next generation nuclear technologies. In recognizing
competition primarily with China and Russia, the United States has
recently begun taking bold measures towards funding, supporting,
and fast-tracking development and licensure of these technologies.
There is also a race to develop and deploy technologies to prevent
further changes to the climate. We continue to make our pursuit of
a strong worldwide patent portfolio a strategic priority for
Lightbridge to ensure the full economic benefits of Lightbridge
Fuel™ for our company and shareholders.”
Over the past year, Lightbridge has secured
patents in Eurasia, Australia, Japan, South Korea, Canada, and the
European Union.
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:Matthew Abenante, IRCDirector of Investor
Relations Tel: +1 (646) 828-8710 ir@ltbridge.com
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