ltbr_8k.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 15, 2019

 

LIGHTBRIDGE CORPORATION

(Exact name of registrant as specified in its charter)

 

Nevada

 

001-34487

 

91-1975651

(State or other jurisdiction

 

(Commission

 

(IRS Employer

of incorporation)

 

File Number)

 

Identification No.)

 

11710 Plaza America Drive, Suite 2000

Reston, VA 20190

(Address of principal executive offices, including zip code)

 

(571) 730-1200

(Registrant’s Telephone Number, Including Area Code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class:

 

Trading Symbol(s):

 

Name of Each Exchange on Which Registered:

Common Stock, $0.001 par value

 

LTBR

 

The Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 
 
 
 

 

Item 7.01 Regulation FD Disclosure.

 

On May 15, 2019, Enfission, LLC, a joint venture of Lightbridge Corporation and Framatome, issued a joint press release with NuScale Power announcing a memorandum of understanding to explore the use of next generation Lightbridge Fuel™ in NuScale’s small modular reactors. A copy of the press release is furnished as Exhibit 99.1 to this report.

 

The information in this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by reference to such filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.

 

Description

99.1

 

Joint press release of Enfission, LLC and NuScale Power dated May 15, 2019.

 

 
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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

LIGHTBRIDGE CORPORATION

 

Dated: May 15, 2019

By:

/s/ Seth Grae

 

Name:

Seth Grae

 

Title:

President and Chief Executive Officer

 

 
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ltbr_ex991.htm

EXHIBIT 99.1

FOR IMMEDIATE RELEASE

May 15, 2019

 

NuScale Power and Enfission Sign MOU to Explore Use of Next

Generation Nuclear Fuel Technology

 

Agreement could spur new improvements in core design, performance, and levelized

electricity cost of NuScale’s small modular reactor

 

PORTLAND, Ore.—Today, NuScale Power and Enfission, LLC, a joint venture of Lightbridge Corporation (NASDAQ: LTBR) and Framatome, announced a memorandum of understanding to explore the use of next generation nuclear fuel technology in NuScale’s small modular reactors. While NuScale’s plant design is already the most resilient nuclear reactor in the world, Lightbridge Fuel™ could spur improvements in core design, performance, and levelized costs of electricity.

 

“As NuScale continues making progress to bring America’s first small modular reactor to market, we are excited to begin work with Virginia-based Enfission, the industry leader in metallic fuel rod technology,” said NuScale Co-Founder and Chief Technology Officer José Reyes. “We look forward to further optimizing all aspects of our unparalleled advanced nuclear reactor design.”

 

Enfission is developing and commercializing next generation nuclear fuel technology that will significantly improve the economics and safety of existing and new reactors. NuScale and Enfission will collaborate on the development of research and testing programs to explore the application of Enfission’s nuclear fuel rod technology, which is well suited for NuScale’s natural circulation design. The company’s advanced fuel rod design is expected to increase core performance, extend core life, reduce refueling outages and offer reduced levelized cost of electricity.

 

On December 1, 2015, Framatome signed an agreement with NuScale to manufacture fuel assemblies for its SMR based on conventional ceramic uranium dioxide fuel and provide testing and analyses needed for its Nuclear Regulatory Commission design certification application. The addition of Enfission’s Lightbridge Fuel™ into the equation further solidifies this relationship and will provide future flexibility on fuel types depending on the reactor demands.

 

“We look forward to working with NuScale Power, with our patented metallic fuel technology contributing to NuScale’s ground-breaking progress in introducing the country’s first small modular reactor,” said Seth Grae, President and Chief Executive Officer of Lightbridge and Enfission.

 

NuScale’s technology is the world’s first and only SMR to undergo design certification review by the U.S. Nuclear Regulatory Commission (NRC). The NRC is scheduled to complete its review of NuScale’s design in September 2020.

 

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About NuScale Power

 

NuScale Power is developing a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 60 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale's scalable design – a power plant can house up to 12 individual power modules – offers the benefits of carbon-free energy and reduces the financial commitments associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 60-year history in commercial nuclear power.

 

NuScale is headquartered in Portland, Oregon and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; Arlington, Va.; and London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, and Instagram: nuscale_power.

 

NuScale has a new logo, brand, and website. Watch the short video.

 

Media Contact:

Diane Hughes, NuScale Vice President, Marketing & Communications

dhughes@nuscalepower.com

(C) 503-270-9329

 

 

About Enfission, LLC

 

Enfission is a US-based 50-50 joint venture between Lightbridge Corporation (NASDAQ: LTBR) and Framatome. Enfission was established January 25, 2018 to complete the development, regulatory licensing, and commercial deployment worldwide of nuclear fuel assemblies based on multi-lobe metallic twisted fuel technology. Enfission will produce Lightbridge Fuel™ assemblies initially for operators of U.S. commercial nuclear power plants, then follow with production of Lightbridge Fuel™ assemblies for other types of reactors and for markets around the world.

 

www.Enfission.net

 

Enfission Contact:

David Waldman/Natalya Rudman

Tel. +1 855-379-9900

 

 
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