Lightbridge Demonstrates High-Temperature Coextrusion of Surrogate Fuel Rods for Commercial-Scale Small Modular Reactors
May 11 2021 - 8:00AM
Lightbridge Corporation (“Lightbridge,” or the “Company”) (NASDAQ:
LTBR), an advanced nuclear fuel technology company, today announced
it has successfully demonstrated the manufacturing process for
three-lobe, six-foot rods using surrogate materials. This
demonstration of Lightbridge’s proprietary manufacturing process
uses an internally developed and patented high-temperature
coextrusion process.
The six-foot length of the surrogate rods is the
typical length of the fuel rods used by many small modular reactors
(SMRs) now in development and licensing. Future fabrication of
high-assay low-enriched uranium (HALEU) rodlets for loop
irradiation testing in the Advanced Test Reactor, and ultimately
commercial length HALEU fuel rods, will use similar extrusion and
casting techniques to create material chemistry and grain
structures representative of Lightbridge Fuel™. Performing
fabrication development activities with surrogate materials allows
Lightbridge to use a broader range of suppliers and is a
cost-effective approach as it does not require uranium
material.
Seth Grae, President & CEO of Lightbridge
Corporation, said: “We are pleased to have physically produced
these surrogate rods with this demonstration of our
high-temperature coextrusion process at a length designed for small
modular reactors. We are developing Lightbridge Fuel™ to enable
SMRs to economically load follow, ramping up and down in power as
renewables are available, and further enhance the safety of SMRs
that utilize natural circulation to maintain core cooling.
Lightbridge Fuel™ can reduce the cost of generating electricity
from an SMR, while delivering to both SMRs and large reactors
increased power output, safety improvements, and enhanced
non-proliferation benefits. Powering SMRs with Lightbridge Fuel™
can strengthen the business case for deploying large numbers of
SMRs, an essential component needed towards delivering upon climate
goals.”
Lightbridge Fuel cladding alloy
blanks.https://www.globenewswire.com/NewsRoom/AttachmentNg/7369f7d7-c31f-46d4-99e8-2b685d661f04
Surrogate rod coextrusion billets and
components.https://www.globenewswire.com/NewsRoom/AttachmentNg/88feb1c9-85c8-42a1-af3b-897c846fa0fa
About Lightbridge Corporation
Lightbridge (NASDAQ: LTBR) is an advanced
nuclear fuel technology development company positioned to enable
carbon-free energy applications that will be essential in
preventing climate change. The Company is developing Lightbridge
Fuel™, a proprietary next-generation nuclear fuel technology for
Small Modular Reactors, as well as existing large light-water
reactors, which significantly enhances reactor safety, economics,
and fuel proliferation resistance. To date, Lightbridge has been
awarded twice by the U.S. Department of Energy’s Gateway for
Accelerated Innovation in Nuclear program to support development of
Lightbridge Fuel™. Lightbridge’s innovative fuel technology is
backed by worldwide patents. For more information please visit:
www.ltbridge.com.
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Forward Looking Statements
With the exception of historical matters, the
matters discussed herein 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; the Company’s ability to fund general corporate overhead
and outside research and development costs; market competition; our
ability to attract and retain qualified employees; dependence on
strategic partners; demand for fuel for nuclear reactors, including
small modular reactors; the Company's ability to manage its
business effectively in a rapidly evolving market; the availability
of nuclear test reactors and the risks associated with unexpected
changes in the Company’s fuel development timeline; the increased
costs associated with metallization of our nuclear fuel; public
perception of nuclear energy generally; 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; changes in the
laws, rules and regulations governing the Company’s business;
development and utilization of, and challenges to, our intellectual
property; risks associated with potential shareholder activism;
potential and contingent liabilities; 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, 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, 2020 and in its other filings with
the Securities and Exchange Commission, including in the sections
thereof captioned “Risk Factors” and “Forward-Looking Statements”,
all of which are available at http://www.sec.gov/ and
www.ltbridge.com.
Investor Relations Contact:Matthew Abenante,
IRCDirector of Investor RelationsTel: +1 (646)
828-8710ir@ltbridge.com
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