Lightbridge Receives Notice of Allowance for Key Patent in the United States for PWR Fuel Assembly Design
November 09 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 for Western-type pressurized water reactors (PWR) with
square fuel assembly grids. The newly allowed patent is based on
the 2014 Patent Cooperation Treaty (PCT) patent application and
broadens the Company’s claims directed to a fuel assembly where the
cladding at a tip of at least one spiral rib of at least one fuel
rod is thinner than the cladding at other tips of the same fuel
rod. Similar to the mixed grid arrangement of metallic fuel rods,
this alternative embodiment enables Lightbridge’s metallic fuel
rods to be retrofitted into an existing fuel assembly envelope of
both existing and new-build reactors, improving overall performance
and further enhancing their appeal to nuclear utilities.
Seth Grae, President and CEO of Lightbridge,
commented: “We are proud to add this latest Notice of Allowance to
our growing portfolio of intellectual property that supports our
strategy to commercialize Lightbridge Fuel™ in the United States.
The fuel assemblies for all commercial PWR reactors in the United
States are of square fuel assembly geometry. Several small modular
reactors in development will also need PWR fuel with square fuel
assembly designs. We are continually developing new intellectual
property around all aspects of our fuel, including technological
enhancements, modifications for different reactor types,
improvements to manufacturing processes, and more, resulting in
being awarded additional patents from the United States, Canada,
Japan, and Australia over the past several weeks.”
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.
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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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