Lightbridge Corporation's proprietary metallic nuclear fuel design was the only fuel highlighted in Nuclear Energy Insider's July 21 article on more than $1 billion in North American private investment in new nuclear technology that is expected enhance the industry's competitiveness.
To read the article, visit http://stks.co/i2q5y. Nuclear Energy Insider is a London-based, online provider of business intelligence to more than 25,000 professionals in the global nuclear energy industry.
The article discusses several developmental-stage nuclear reactor designs, most of which could be deployed for commercial use beginning around 2030. Author Peter Taberner writes, "(Lightbridge fuel technology) has attracted a lot of interest from four major utilities, according to the US Nuclear Regulatory Commission. It is expected that the company's first lead test assemblies with commercial reactors could be operational as early as 2020."
Nuclear Energy Insider says, "Lightbridge takes the view that despite rival reactor technologies, light water reactors will continue to be dominant for the next 100 years. There are an estimated 400 light water reactors in use, including the entire US nuclear power fleet. There are almost 100 light water reactors in the US, providing around 20% of US electricity and some 65% of carbon free production.
"Lightbridge is working on a range of all-metal fuels which can increase power operates by as much as 30% for an 18 month operating cycle for new build Pressurized Water Reactors.
"'Conventional nuclear fuels, such as ceramic pellets of uranium dioxide, have just about reached their limits for achieving power up-rates and improving reactor safety margins,' said Seth Grae, President and CEO of Lightbridge."
The article cites a study by energy specialists at Third Way, a centrist public policy think tank, that found nearly 50 enterprises in the U.S. and Canada have invested $1.3 billion to date to develop next generation nuclear technology.
"Nuclear power is on the cusp of a comeback," the Third Way study says. "The technology may be the best opportunity we have to address climate change and meet the world's growing energy needs… These companies are being built and funded because the innovators and investors see profit in creating an answer to the global energy paradox - there are 1.3 billion people in the world without access to reliable electricity; they will get that electricity, and advanced nuclear can provide it to them while cutting global carbon emissions."
About Lightbridge Corporation
Lightbridge is a nuclear energy company based in McLean, Virginia. The Company develops proprietary next generation nuclear fuel technologies for current and future nuclear reactor systems. Lightbridge's breakthrough fuel technology is establishing new global standards for safe and clean nuclear power and leading the way to a sustainable energy future. The Company also provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. Lightbridge consultants provide integrated strategic advice and expertise across a range of disciplines including regulatory affairs, nuclear reactor procurement and deployment, reactor and fuel technology and international relations. The Company leverages those broad and integrated capabilities by offering its services to commercial entities and governments with a need to establish or expand nuclear industry capabilities and infrastructure.
Important recent milestones achieved by Lightbridge include approval and issuance of key patents by the United States, Australia and South Korea for the Company's multi-lobed metallic fuel rod design and fuel assemblies. In April 2015, nuclear fuel managers at Dominion Generation (NYSE: D), Duke Energy (NYSE: DUK), Exelon Generation (NYSE: EXC) and Southern Company (NYSE: SO) asked the U.S. Nuclear Regulatory Commission (NRC) to prepare to review Lightbridge's fuel design, in advance of an expected application in 2017 to use the Company's fuel in a U.S. reactor as early as 2020 (http://pbadupws.nrc.gov/docs/ML1513/ML15134A092.pdf). The NRC relies on communications from U.S. utilities to adjust Commission staffing levels and budgets in anticipation of regulatory review of licensing applications.
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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 competitive position, the timing of demonstration testing and commercial production, the Company's and product and service offerings and the expected market for the Company's product and service offerings. 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; and 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.
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