Curio and Lightbridge Corporation Sign MOU to Explore Collaboration in the Nuclear Fuel Supply Chain
July 20 2022 - 8:00AM
Curio today announced the signing of a Memorandum of
Understanding (MOU) with Lightbridge Corporation (Nasdaq: LTBR) as
an industry partner and potential off-taker of products produced
through Curio’s TRUfuel™ technology. This collaboration
is vital as both Curio and Lightbridge work to develop nuclear
technologies that will be key to ushering in the second nuclear era
for future generations.
“Our collaboration with Lightbridge is an
important step to ensuring there is an adequate fuel supply chain
to maintain our current fleet of nuclear reactors and deploy the
next generation of reactors,” said Edward McGinnis, Chief
Executive Officer of Curio. “Curio’s TRUfuel is the fuel of the
future, and we stand ready to help the U.S. reclaim global nuclear
energy leadership.”
Seth Grae, President & Chief Executive
Officer of Lightbridge Corporation, commented, “We are excited to
enter into this agreement with Curio as we explore future
government funding opportunities relating to Curio’s TRUfuel
technology and potential use of such transuranic material as
feedstock material in Lightbridge-designed metallic fuel rods to
power existing large reactors and coming small modular reactors.
Lightbridge is well-aligned with support the U.S. government
provides to develop advanced nuclear technologies that can help the
existing large and small modular reactors, with two prior GAIN
voucher awards from the Department of Energy. Together with Curio,
we look forward to pursuing opportunities to further our respective
technologies.”
About CurioDedicated to solving
the most pressing hurdles facing nuclear power, Curio™ is focused
on commercializing the case for a closed fuel cycle with
nuclear waste recycling and unleashing the full potential of
the atom. From closing the cycle to the production of
proliferation-hardened alternative fuels for
our current fleet of reactors, advanced reactors, nuclear
medicine, deep space applications and advanced
batteries, Curio sees a bright future of global
prosperity powered by the atom.
Follow Curio on Twitter and LinkedIn.
About Lightbridge
CorporationLightbridge (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 safety, economics, and
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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@LightbridgeCorp at http://twitter.com/lightbridgecorp.
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visit www.ltbridge.com or click here to watch the video.
Forward Looking StatementsWith
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; risks associated
with war in Europe; risks associated with limited availability of
conversion and enrichment services for nuclear fuel production;
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, 2021, 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.
MEDIA CONTACTS:
For Curio:Melanie White Tel: +1 (202)
557-9700mwhite@curiolegacy.com www.curio-solutions.com
For Lightbridge:Matthew Abenante, IRCTel: +1
(646) 828-8710 ir@ltbridge.comhttps://www.ltbridge.com
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