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Lightbridge Corporation
11710 Plaza America Drive
Suite 2000
Reston, VA 20190


Investor Relations: 1.855.379.9900
Main: 1.571.730.1200



Seth Grae
President and Chief Executive Officer

Since Lightbridge’s founding, Seth Grae has led the strategic direction and financing efforts of the company, including taking the company public. Under his leadership, Lightbridge has become a leading developer of advanced nuclear fuel technologies. Lightbridge also provides advisory services to developing and existing nuclear energy programs seeking to meet the highest international standards of safety, non-proliferation and transparency.

Seth and his team at Lightbridge are developing fuel technology to improve the safety and economics of existing and new power reactors. Lightbridge’s proprietary fuel technology promises to enable nuclear power to compete internationally as a reliable source of baseload electricity, without emitting greenhouse gases or polluting the air.

For countries seeking to start or expand nuclear power programs, Lightbridge advises governments and conducts feasibility studies through procurement and operations. Lightbridge’s first major international engagement was in the United Arab Emirates, to develop the strategic plan—the Roadmap for Success—for its commercial nuclear energy program. Seth and his family lived in Abu Dhabi during the procurement process for the four reactors. Today, Lightbridge’s advisory services are engaged by U.S. and overseas governmental entities on critically important nuclear energy matters.

Prior to his tenure at Lightbridge, Seth was a corporate attorney in New York. He is a guest speaker at universities and at international conferences on energy, nuclear power and the environment.

Seth is a member of the Civil Nuclear Trade Advisory Committee (CINTAC), which advises the U.S. Commerce Secretary on international trade issues facing the nuclear power industry.

He is a member of the Nuclear Energy Institute Suppliers Advisory Committee, the American University Washington College of Law Dean’s Advisory Council, and previously served as Vice Chair of the Governing Board of Bulletin of the Atomic Scientists, member of the Board of Directors of the Lawyers Alliance for World Security, and co-chair of the American Bar Association Committee on Arms Control and Disarmament.

Seth earned a B.A. (cum laude) from Brandeis University; an M.B.A. and an LL.M. in international law (with honors) from Georgetown University; and a J.D. from American University.


  • M.B.A., International Executive MBA Program, Georgetown University
  • LL.M., International Law, with Honors, Georgetown University
  • J.D., American University
  • B.A., Cum Laude, Economics, Brandeis University
  • Member, Civil Nuclear Trade Advisory Committee, United States Department of Commerce
  • Member, Suppliers Advisory Committee, Nuclear Energy Institute
  • Member, Dean’s Advisory Council, American University Washington College of Law
Ambassador Thomas Graham Jr.
Executive Chairman of the Board

Ambassador Graham became a director of the Company on April 2, 2006, and chairman of the Board on April 4, 2006. Ambassador Graham served as a member of the board of directors of Thorium Power, Inc., from 1997 until the merger with the Company. He is one of the world’s leading experts on nuclear non-proliferation and has served as a senior U.S. diplomat involved in the negotiation of every major international arms control and non-proliferation agreement involving the United States during the period from 1970 to 1997, including the Strategic Arms Limitations Talks (the Interim Agreement on Strategic Offensive Arms, the Anti- Ballistic Missile Treaty, and the Salt II Treaty), the Strategic Arms Reduction Talks (the Start I Treaty and the Start II Treaty), the Intermediate Nuclear Forces Treaty, the Nuclear Non- Proliferation Treaty Extension, the Conventional Armed Forces in Europe Treaty, and the Comprehensive Test Ban Treaty. In 1993, Ambassador Graham served as the Acting Director of the U.S. Arms Control and Disarmament Agency (ACDA), and for seven months in 1994 served as the Acting Deputy Director. From 1994 through 1997, he served as the Special Representative of the President of the United States for Arms Control, Non-Proliferation and Disarmament with the rank of Ambassador, and in this capacity successfully led U.S. government efforts to achieve the permanent extension of the Nuclear Non-Proliferation Treaty in 1995. He also served for 15 years as the general counsel of ACDA.

Ambassador Graham worked on the negotiation of the Chemical Weapons Convention and the Biological Weapons Convention. He drafted the implementing legislation for the Biological Weapons Convention and managed the Senate approval of the ratification of the Geneva Protocol banning the use in war of chemical and biological weapons. Mr. Graham served as a member of the International Advisory Board for the nuclear program of the United Arab Emirates from 2009 through its termination in October 2017. He is also Chairman of the Board of CanAlaska Uranium Ltd. of Vancouver, Canada (TSX: CVV), a uranium exploration company.

Ambassador Graham received an A.B. in 1955 from Princeton University and a J.D. in 1961 from Harvard Law School. He is a member of the Kentucky, the District of Columbia and the New York Bar Associations and is a member of the Council on Foreign Relations. He chaired the Committee on Arms Control and Disarmament of the American Bar Association from 1986-1994. Ambassador Graham received the Trainor Award for Distinction in Diplomacy from Georgetown University in 1995 and the World Order Under Law award from the International Law Section of the American Bar Association in 2007. He has taught at a number of universities as an adjunct professor including the University of Virginia Law School, Georgetown University Law Center, Georgetown University School of Foreign Service, the University of Washington, the University of Tennessee, Stanford University, and Oregon State University. He has published numerous non-fiction books, including The Alternate Route: Nuclear Weapon Free Zones and Seeing the Light, the Case for Nuclear Power in the 21st Century in 2017 and Unending Crisis in 2012, as well as a historical novel, Sapphire, A Tale of the Cold War in 2014.

Andrey Mushakov
Executive Vice President / International Nuclear Operations

An expert in cost modeling and the economics of the nuclear fuel cycle, Dr. Andrey Mushakov oversees the nuclear fuel technology division of Lightbridge Corporation. He has been with Lightbridge since 2000, and in 2006 he was named executive vice president of international nuclear operations.

Dr. Mushakov led Lightbridge's efforts to establish its Russian Branch Office in Moscow. He acts as the primary liaison between Lightbridge Corporation and Russian State Corporation "Rosatom", including its subsidiary companies TVEL, OKBM Nizhny Novgorod, and RIAR, as well as National Research Centre "Kurchatov Institute". Dr. Mushakov was also instrumental in coordinating Lightbridge's collaborative agreements with AREVA, the world's largest nuclear energy firm, to investigate the use of thorium fuel in light water reactors. Dr. Mushakov has been a featured speaker at international conferences and panels on nuclear fuel technology, including the Wharton Energy Conference and the World Nuclear Fuel Cycle Conference. Before joining Lightbridge, Dr. Mushakov worked in commercial bank oversight and corporate finance, as well as other financial aspects of the banking and construction sectors.

Dr. Mushakov earned a Ph.D. in economics from St. Petersburg State University of Economics and Finance, an M.S. in management from Hult International Business School, and a B.S. in banking and finance from the Financial University under the Government of the Russian Federation.

Jesse Funches
Nuclear Regulatory Expert
Jesse Funches, former chief financial officer for the U.S. Nuclear Regulatory Commission, is a world-leading authority on how to operate a capable and cost-effective nuclear oversight agency. His unique skill set combines years of successful financial management with a comprehensive knowledge of nuclear regulatory policies and processes. Mr. Funches played a key role in the establishment of the Federal Authority for Nuclear Regulation, the independent body tasked with regulating and licensing all nuclear energy activities within the United Arab Emirates.

Mr. Funches, who has been with Lightbridge Corporation since 2008, has more than three decades of regulatory experience, including ten years as CFO of the NRC. In that capacity, Mr. Funches liaised directly with Congress and the Office of Management and Budget on financial and regulatory program issues and oversaw all aspects of agency-wide budgeting, performance evaluation, and strategic planning. Mr. Funches also managed program, policy, and analysis staffs, and he worked closely with the agency's chairman, commissioners, and program managers to license new power reactors. Mr. Funches was also an active member of the Federal Chief Financial Officers Council, a collective of senior-level officials working to improve government-wide financial issues. In addition to winning the 2004 Donald L. Scantlebury Memorial Award (the federal government's highest award for excellence in financial management), Mr. Funches is a three-time recipient of the Presidential Rank Award for Meritorious Senior Executives and a two-time winner of the NRC's Distinguished Service Award.

Mr. Funches received a bachelor's degree in mathematics from Jackson State University, a master's degree in applied mathematics from the University of Illinois, and a master's degree in business administration from Loyola College.
Jon Johnson
Senior Vice President, Nuclear Regulatory Expert
Jon Johnson, a former senior executive with the U.S. Nuclear Regulatory Commission, is one of the foremost authorities on the licensing, safety, and regulation of nuclear power plants; he has been with Lightbridge Corporation since 2008. Regulatory agencies around the world have looked to Mr. Johnson for advice on reactor safety design, operation, and oversight matters, including the United Arab Emirates' Federal Authority for Nuclear Regulation, the Canadian Nuclear Safety Commission, and the Japanese Nuclear Safety Institute.

As deputy director of the NRC's Office of Nuclear Reactor Regulation, Mr. Johnson helped manage personnel across several departments, including inspection, licensing, assessment, and event response at all 104 commercial and 26 research nuclear reactor facilities in the United States. Earlier in his career, Mr. Johnson was a deputy regional administrator, branch chief, and senior inspector for the NRC. He was the NRC's principal liaison to other countries' nuclear regulatory agencies and was past chair of the NRC's License Renewal Steering Committee; he also has performed nuclear safety assessments at several Department of Energy facilities in the United States. Mr. Johnson has been a featured speaker at IAEA workshops in Europe on topics including regulatory strategy and technical support, to the OECD on regulatory practices, and he has provided consulting to senior U.S. utility executives regarding reactor safety and performance. Mr. Johnson joined the NRC after serving nearly ten years in the U.S. Navy, where he was a nuclear-trained officer who directed dual-reactor plant operations at sea.

Mr. Johnson earned a bachelor's degree, with distinction, in physics from the U.S. Naval Academy and a master's degree in nuclear engineering from the University of Virginia.
James P. Malone
Chief Nuclear Fuel Development Officer

James Malone has more than four decades of high-level experience in the nuclear industry, including extensive experience in all aspects of fuel procurement and management. In late 2009, Mr. Malone retired after a decade with Exelon Generation Company, where as vice president of Nuclear Fuels he provided strategic direction and tactical guidance for Exelon’s nuclear fuel cycle activities. He was responsible for procurement (uranium, conversion, enrichment, and fuel fabrication) for seventeen operating nuclear reactors—PWRs and BWRs—and his expertise guided the management of used fuel. Mr. Malone’s responsibilities also included special nuclear material accounting and safeguards, economics, and fuel cycle costs. Under Mr. Malone’s supervision, the Nuclear Fuels department provided reload bundle and core design, safety analysis, and plant technical support, including fuel reliability, component procurement strategy, and decommissioning strategy.

Before joining Exelon, Mr. Malone served for ten years as vice president and senior consultant at NAC International, where he consulted on fuel reliability and the front and back ends of the nuclear fuel cycle, among other issues. One of his last projects at NAC was the international safeguards system for the Rokkasho Mura reprocessing plant in Japan. Mr. Malone also worked for many years at SWUCO, Inc., first as a nuclear fuel broker, then as manager of technical services, and finally as vice president. Prior to SWUCO, Mr. Malone was manager of economic analysis at Yankee Atomic, where his work led to important decisions on fuel type and design. Mr. Malone began his career in nuclear power in 1968 as an engineer in the utility reactor core analysis section of the Nuclear Engineering Department of United Nuclear Corporation, where his duties included bundle and core design for the Dresden 1 and Yankee Rowe reactors.

Mr. Malone is a member of the American Nuclear Society and past chairman of its Fuel Cycle Waste Management Division. He is also a member of the member of the World Nuclear Association’s Fuel Cycle Members’ Forum. Mr. Malone holds a bachelor’s degree in chemical engineering (nuclear) from Manhattan College and an MBA from Iona College, where he was awarded the Graduate School of Business Award for Academic Excellence.

Rene' A. Delaney
Quality Assurance Manager
Mr. Rene’ A. Delaney has over 35 years of Nuclear Quality Assurance Management Experience. His extensive background consists of expertise in Nondestructive Testing, Welding and Mechanical Inspection, Auditing, Material Testing, Nuclear Fuel Quality Assurance, Quality Assurance Program Development and Management. Mr. Delaney retired from Constellation Energy after 26 years in the Nuclear Quality Assurance Department at Nine Mile Point Nuclear Station.
After his retirement from Constellation Energy in 2006, he started a successful consulting business, Nuclear Quality Oversight, specializing in internal/external audits, inspections, Quality Program Management and Quality Program Development. 
Mr. Delaney has been an ASME NQA-1 certified Lead Auditor since 1986 and has performed over 350 Nuclear Quality Assurance Audits/Surveys nationally and internationally. Mr. Delaney has a Diploma from the American Society for Metals Engineering Institute in “Testing and Inspection".
Jonathan Baggett
Vice President, Program Management / Deputy Nuclear Quality Assurance Manager
Jonathan Baggett is an expert in systems analysis, product design, program planning, and project management. A certified Project Management Professional, he joined Lightbridge in 2007, supporting clients’ new build nuclear power programs and Lightbridge’s nuclear quality assurance program.
From 2007-2008, Mr. Baggett was based in Abu Dhabi much of the time, serving as a project manager for the technology selection and procurement aspects of the Company’s Roadmap for Success, the strategic plan for development of the commercial nuclear energy program of the United Arab Emirates, including construction the 4-unit nuclear power complex at Barakah. As the Lightbridge project manager, he had ongoing involvement in all areas of the UAE nuclear power program, including supporting major procurements, infrastructure assessment, program management, risk management, systems integration planning, program performance assessments, corporate business planning, and operational readiness. Mr. Baggett periodically supports updates to portions of the Roadmap. His support in 2014-2015 based in the South Korea office of Emirates Nuclear Energy Corporation (ENEC) included strategic analysis, and oversight of material management and quality assurance.
Mr. Baggett’s work for Lightbridge advising the Cooperation Council for the Arab States of the Gulf (GCC) in 2011 led to the identification of regional civil nuclear power cooperation projects within the six GCC member states. He also supported policy analysis, program planning, and feasibility assessments for the State of Kuwait in 2011.  Mr. Baggett also benchmarks industry best practices for several clients.  He periodically speaks at industry conferences on nuclear new build.
Beginning in 2016, Mr. Baggett is also the Deputy Nuclear Quality Assurance Manager for Lightbridge’s nuclear fuel development and commercialization program. Mr. Baggett supports nuclear quality assurance audits and oversight for the Lightbridge metallic fuel program in the United States, Canada, Norway, Sweden, and France, as well as visits in support of nuclear quality assurance for other companies in the nuclear power industry. 
Prior to joining Lightbridge, Mr. Baggett was a Senior Project Engineer for Medical Solutions, where he led the design and development of multiple patented medical products currently sold in the market. Before that, he was a Manufacturing Engineer at TigHitco where he implemented lean manufacturing techniques into the production process of aircraft and marine thermal insulation components.
Mr. Baggett earned a bachelor of science degree in aerospace engineering at Georgia Institute of Technology and a masters degree in systems engineering at the University of Virginia.
Aaron Totemeier
Vice President, Fuel Cycle Technology and Fuel Fabrication

Aaron Totemeier is an expert in nuclear fuel technologies, radiation damage, and the nuclear fuel cycle. He joined Lightbridge in 2008 as a nuclear engineer and soon became an integral member of the fuel technology development team.

Mr. Totemeier was involved in many aspects of Lightbridge's thorium seed and blanket fuel technology development and evaluating its deployment in the existing light water reactor infrastructure. In 2010 Mr. Totemeier became the Director of Fuel Cycle Technology & Fuel Fabrication for Lightbridge, leading the technology development for Lightbridge's advanced metallic fuel for power uprates and cycle length extension. In this role, Mr. Totemeier provides technical oversight and direction for Lightbridge's research and development activities including coordination with partner entities and management of technical consultants. Mr. Totemeier provides strategic advice on nuclear power projects for Lightbridge and its partners, including technology evaluation, development, and regulatory compliance.

Prior to joining Lightbridge, Mr. Totemeier was a laboratory manager at the Fuel Cycle & Materials Laboratory at Texas A&M University, a leading nuclear fuel cycle experimental facility. While there, Mr. Totemeier worked with many nuclear fuel cycle research projects including the development of fabrication technologies for advanced metallic nuclear fuels via extrusion.

Mr. Totemeier earned bachelor of science and master of science degrees in nuclear engineering at Purdue University and earned a PhD degree in nuclear engineering at Texas A&M University.

Linda Zwobota, C.P.A., C.I.A.
Chief Financial Officer

Linda Zwobota is Lightbridge Corporation’s principal accounting officer, responsible for the Company’s financial reporting and analysis, including the Company’s quarterly and annual SEC reporting, as well as Sarbanes Oxley compliance and general financial management. She joined the Company in October 2009 as Controller.

From May 2000 to October 2009, Ms. Zwobota was an Associate at Resources Global Professionals (RGP), a consulting firm where she provided RGP clients with a broad range of services, including accounting, regulatory reporting, internal audit, and IT system support. Previously, Ms. Zwobota held senior auditing and revenue accounting positions at BAA plc and its North American subsidiaries, a manager of retail and food and beverage concessions at international airports. From 1992 to 1997, she was a senior accountant and assistant treasurer at a subsidiary of Wartsila, a global power solutions company.

Ms. Zwobota earned a bachelor’s degree from the University of Maryland, College Park. She has been a certified public accountant since November 1991 and a Certified Internal Auditor (CIA®) since May 1999.