Lightbridge Joins Forces with Esteemed Public-Private Groups to Support the Nuclear Power Industry
May 04 2023 - 8:00AM
Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel
technology company, is pleased to announce that the Company has
joined two important Public-Private nuclear power groups: the
U.S. Department of Energy’s (DOE) High-Assay, Low-Enriched
Uranium (HALEU) Consortium, and the U.S. Department of
Commerce International Trade Administration’s
Small Modular
Reactor (SMR) Working Group.
About the HALEU ConsortiumIn
December 2022, the DOE announced the creation of a HALEU Consortium
to support the establishment of domestic HALEU infrastructure
pursuant to the Energy Act of 2020. The purpose of the Consortium
is to provide the Secretary of Energy with HALEU demand estimates
for domestic commercial use, purchase HALEU made available to
members for commercial use, carry out demonstration projects using
HALEU, and identify actionable opportunities to improve the
reliability of the HALEU supply chain.
About the SMR Working GroupThe
U.S. Department of Commerce International Trade Administration’s
(ITA) SMR Working Group supports the deployment and export of U.S.
SMRs in European markets while ensuring safety, security, and
nonproliferation. The SMR Working Group aims to expedite SMR
deployment by facilitating collaboration between the U.S. industry,
government, and European partners. Through quarterly meetings,
members gain sector knowledge and networking opportunities with
prospective European customers and government officials, ultimately
positioning U.S. companies for success in the European SMR
market.
Seth Grae, President and CEO of Lightbridge
Corporation, commented, “We are excited that Lightbridge is a
member of these two exceptional teams that bring together industry
leaders, government agencies, and other key stakeholders. As we
work together to drive U.S. production of HALEU and deployment of
SMRs in Europe, we are confident that our participation in these
important groups will help us achieve our strategic objectives and
contribute to a cleaner, more secure energy future.”
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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