Lightbridge Receives Japanese Patent Approval for Innovative Metallic Fuel Design
RESTON, Va., March 12, 2018 (GLOBE NEWSWIRE) -- Lightbridge Corporation (NASDAQ:LTBR), a nuclear fuel technology company, has received notice of allowance for a divisional patent in Japan related to the manufacturing of its metallic nuclear fuel design. Lightbridge has designed its innovative fuel to improve the operating economics and safety of both existing and new nuclear power plants.
The newly issued patent is based on the 2011 Patent Cooperation Treaty (PCT) patent application and covers the manufacturing process for Lightbridge’s multi-lobe metallic fuel rods via the casting route.
Seth Grae, President and CEO of Lightbridge, said: “This news from Japan is another positive development as we progress towards commercialization of our cutting-edge fuel. The promise of producing safer and more economical carbon-free power with Lightbridge fuel would support Japan’s nuclear plant restart efforts, reducing the need to import expensive fossil fuels to the island nation and cut greenhouse gas emissions.”
Lightbridge has issued and pending patents in various countries around the world, including the United States, Europe, China, Korea, Canada, Eurasia, and Australia.
About Lightbridge Corporation
Lightbridge (NASDAQ:LTBR) is a nuclear fuel technology development company based in Reston, Virginia, USA. The Company develops proprietary next generation nuclear fuel technologies for current and future reactors. The technology significantly enhances the economics and safety of nuclear power, operating about 1000° C cooler than standard fuel. Lightbridge invented, patented and has independently validated the technology, including successful demonstration of the fuel in a research reactor with near-term plans to demonstrate the fuel under commercial reactor conditions. The Company has assembled a world class development team including veterans of leading global fuel manufacturers. Four large electric utilities that generate about half the nuclear power in the US already advise Lightbridge on fuel development and deployment. The Company operates under a licensing and royalty model, independently validated and based on the increased power generated by Lightbridge-designed fuel and high ROI for operators of existing and new reactors. The economic benefits are further enhanced by anticipated carbon credits available under the Clean Power Plan. Lightbridge also provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. For more information please visit: www.ltbridge.com.
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Forward Looking Statements
With the exception of historical matters, the matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's joint venture operating agreement and other binding agreements with Framatome, the expected cooperation between Framatome and the Company, the ability of commercial nuclear utilities to generate more electricity from their nuclear power plants using Lightbridge fuel, and that the economic and safety benefits of our fuel will encourage greater use of nuclear power. 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 degree of market adoption of the Company's product and service offerings; market competition; dependence on strategic partners; demand for fuel for nuclear reactors; the Company's ability to manage its business effectively in a rapidly evolving market; 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. Readers are cautioned not to put undue reliance on forward-looking statements.
Investor Relations Contact:
David Waldman/Natalya Rudman
Tel. +1 855-379-9900
Source: Lightbridge Corporation