RESTON, Va. , Jan. 22, 2018 (GLOBE NEWSWIRE) -- Lightbridge Corporation (NASDAQ:LTBR), a nuclear fuel technology company, today announced it has received a notice of allowance for a key patent from the U.S. Patent and Trademark Office related to its metallic nuclear fuel assembly design. Lightbridge's advanced fuel technology is designed to significantly improve the economics, performance and safety of nuclear power plants.
This latest patent allowance extends Lightbridge's patent portfolio coverage in the United States to an entire metallic fuel assembly design for Western-type pressurized water reactors, which comprise two-thirds of those in operation worldwide. However, Lightbridge's metallic fuel designs can also be adapted for use in nearly all other power reactors around the world.
Lightbridge President and CEO Seth Grae said: "This latest notice for a U.S. patent further expands the broad global patent protection already surrounding our fuel. This particular patent focuses on the fuel assembly design, building on an earlier US patent involving metallic fuel rod design and other US patents for a different variant of the seed-and-blanket fuel assembly design. The intellectual property in our proprietary fuel designs reflects years of research and tireless effort by our team, including many of the leading experts within the nuclear energy field."
Over the past year, Lightbridge has secured patents in China, South Korea and the European Union related to its innovative advanced fuel design. The company is in the process of finalizing a joint venture with Framatome, a leader in nuclear fuel, components and reactor services, to further develop and commercialize metallic fuel for nuclear plants around the world.
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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