Lightbridge Receives Notice of Allowance for Key Patent in the United States for its Innovative Nuclear Fuel Assemblies
May 02 2023 - 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
and Trademark Office related to Lightbridge’s innovative metallic
nuclear fuel assemblies. This is a divisional application based on
a 2011 Patent Cooperation Treaty (PCT) application. The allowed
claims include two independent claims: (1) The first independent
claim covers a fuel assembly that includes fuel elements with a
fuel kernel that comprises delta-phase UZr2 and has a
moderator-to-fuel ratio in a region of the fuel elements of 2.4 or
less and (2) The second independent claim covers a fuel assembly
that includes fuel elements having a spirally twisted, multi-lobed
profile that defines a plurality of spiral spacer ribs with
cladding that is thicker at tips than at intersections.
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.
Our intellectual property serves as the foundation for our
continued growth and is a testament to the ingenuity and hard work
of our team that constantly pushes the boundaries of what is
possible in the nuclear industry.”
Lightbridge Fuel has been designed to enhance
the safety and economics of nuclear power for both existing
reactors and small modular reactors that are being developed.
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
CorporationLightbridge Corporation (NASDAQ: LTBR) is
focused on developing advanced nuclear fuel technology essential
for delivering abundant, zero-emission, clean energy and providing
energy security to the world. The Company is developing Lightbridge
Fuel™, a proprietary next-generation nuclear fuel technology for
existing light water reactors and pressurized heavy water reactors,
significantly enhancing reactor safety, economics, and
proliferation resistance. The Company is also developing
Lightbridge Fuel for new Small Modular Reactors (SMRs) to bring the
same benefits plus load-following with renewables on a zero-carbon
electric grid. Lightbridge has secured a long-term strategic
partnership with Idaho National Laboratory (INL), the United
States' lead nuclear energy research and development laboratory, in
collaboration with the U.S. Department of Energy (DOE). DOE’s
Gateway for Accelerated Innovation in Nuclear (GAIN) program has
twice awarded Lightbridge to support the development of Lightbridge
Fuel. An extensive worldwide patent portfolio backs Lightbridge’s
innovative fuel technology. Lightbridge is included in the Russell
Microcap® Index. For more information, please visit
www.ltbridge.com.
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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 anticipated benefits of Lightbridge Fuel™ in existing
light water reactors, pressurized heavy water reactors and SMRs.
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; 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 war in Europe; 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, 2022, 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 (347) 947-2093
ir@ltbridge.com
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