Lightbridge Receives Notice of Allowance for Key Patent in the United States
October 29 2021 - 8:00AM
Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel
technology company, today announced that it received a Notice of
Allowance for a key divisional patent from the United States Patent
Office related to Lightbridge’s innovative metallic nuclear fuel
assembly. The newly allowed patent is based on the 2015 Patent
Cooperation Treaty (PCT) patent application and broadens the
company’s claims directed to a fuel assembly having a mixed grid
pattern without specifying that the first grid pattern is
rectangular or that the second grid pattern is triangular. The
mixed grid arrangement enables Lightbridge’s metallic fuel rods to
be retrofitted into an existing fuel assembly envelope of both
existing and new-build reactors.
Seth Grae, President and CEO of Lightbridge
commented: “This Notice of Allowance represents another important
milestone for Lightbridge, strengthening our intellectual property
portfolio that supports our strategy to commercialize Lightbridge
Fuel™ in the United States. As governments recognize the importance
of maintaining the existing nuclear fleet and innovating with
advanced technologies to meet net-zero carbon targets, our
technology could play a central role in this energy
transition.”
Lightbridge Fuel has been designed to enhance
the safety and economics of nuclear power for both existing and
next-generation nuclear reactors. Lightbridge has patents pending
in various countries around the world, including the United States,
South Korea, Canada, Japan, Eurasia, and Australia, as well as
additional patents pending in Europe and China.
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.
To receive Lightbridge Corporation updates via e-mail, subscribe
at https://www.ltbridge.com/investors/news-events/email-alerts
Lightbridge is on Twitter. Sign up to follow
@LightbridgeCorp at http://twitter.com/lightbridgecorp.
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
Lightbridge (NASDAQ:LTBR)
Historical Stock Chart
From Jul 2024 to Jul 2024
Lightbridge (NASDAQ:LTBR)
Historical Stock Chart
From Jul 2023 to Jul 2024