Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel
technology company, announced today that it has expanded its Board
of Directors with the appointment of Dr. Sweta Chakraborty and Mark
Tobin as independent directors, effective immediately. Dr.
Chakraborty will serve as Chair of the newly constituted
Environmental Social & Governance (ESG) Committee, while Mr.
Tobin will serve as Chair of the Compensation Committee.
Dr. Chakraborty is a globally recognized risk
and behavioral scientist and expert on risks ranging from climate
change to COVID-19. She has spent the last 12 years advising
government agencies on science and technology policy, specifically
incorporating behavioral science in programmatic design and
delivery, communication, and engagement activities. She has
directly designed and implemented internal and external
communication strategies informed by behavioral science in
collaboration with Fortune 100 global companies, such as Mars Inc.,
Novartis, and PVH Corp. She earned a Bachelor of Science in
Behavioral Science at Carnegie Mellon University, a Ph.D. in
Behavioral Science at Kings College London, and completed
post-doctorate work at Oxford University. She produces and co-hosts
the popular weekly radio show and podcast “Risky Behavior” and
launched and hosted “The Climate and Security” Podcast and a
special series on nuclear as a fellow for The Center for Climate
and Security. Last week, Dr. Chakraborty co-authored a piece
featured on Morning Consult titled: “IPCC Report
Underscores Why the United States Must Embrace Nuclear Power to
Avoid a Climate Disaster.”
Mr. Tobin is a global finance and strategy
executive with over 24 years of experience in international
investment banking and public company leadership. Currently, Mr.
Tobin serves as Chief Financial Officer at infrastructure services
provider National Underground Group and serves on the Board of data
storage solutions provider Qualstar Corporation. Previously, Mr.
Tobin served as chief financial officer of global industrial
printer manufacturer Printronix, independent director & audit
committee chairman of Innovation Pharmaceuticals, Inc., a publicly
listed clinical-stage biopharmaceutical company, and as executive
vice president and chief financial officer of Nanoflex Power
Corporation, a publicly listed solar technology company. Before
that, Mr. Tobin served as Director of Research and as a Senior
Research Analyst at Roth Capital Partners, where he oversaw equity
research on hundreds of small-cap public companies, publishing
research on publicly-traded energy infrastructure companies
including nuclear power, wind power, solar power, and electric
transmission & distribution. Mr. Tobin began his career as an
officer in the United States Air Force, overseeing advanced
technology development programs and representing the U.S. as a NATO
delegate. He graduated with honors from the U.S. Air Force Academy
with a Bachelor of Science in Management and received an MBA from
the University of Pittsburgh.
“We are pleased to welcome Sweta and Mark to the
Board, bringing their invaluable knowledge and perspectives to
Lightbridge,” commented Seth Grae, President and CEO of
Lightbridge. “Sweta is a trusted authority on proactive
preparedness to mitigate the impacts of climate change, motivated
by clear, credible, evidence-based communication, while Mark has
established himself as a proven business leader and trusted advisor
whose background and experience ideally complement the strength and
expertise of our board members. Together, they will bring
tremendous value to our Board, and I am looking forward to working
closely with them both.”
”In addition, we are pleased to form our
Environmental Social & Governance (ESG) Committee, which
reflects our dedication to economic, environmental, and social
responsibility, an integral part of our long-term performance
strategy. The ESG Committee will assist the Board in delivering
oversight responsibility related to ESG matters, which includes
areas such as climate change, energy and natural resources
conservation, environmental sustainability, human rights, diversity
and inclusion and other ESG issues that are relevant and material
to Lightbridge. The ESG Committee also provides guidance to the
Board on these matters and performs an oversight role in shaping
the Company’s ESG strategy,” concluded Mr. Grae.
Commenting on her appointment, Dr. Chakraborty
stated, “I am excited to join Lightbridge’s Board of Directors at
this stage of its development. Lightbridge has achieved an
impressive record of innovation in nuclear, which is critical to
meet global energy and climate goals. I believe Lightbridge is
well-positioned to take advantage of excellent growth
opportunities, and I look forward to participating in its
future.”
Commenting on his appointment, Mr. Tobin stated,
“I am looking forward to working with the Lightbridge Board of
Directors. Lightbridge’s nuclear fuel innovation has great
potential to modernize the nuclear energy industry, achieving
clean, sustainable, and abundant energy throughout the world. I am
honored to be a part of Lightbridge and look forward to our
continued progress towards commercializing Lightbridge Fuel™.”
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 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 an
extensive worldwide patent portfolio. Lightbridge is included in
the Russell Microcap® Index. 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 31st, 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 Relations Tel: +1 (646) 828-8710
ir@ltbridge.com
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