RESTON, Va., Dec. 16, 2016 (GLOBE NEWSWIRE) -- Lightbridge Corporation (NASDAQ:LTBR), a U.S. nuclear fuel development company, announced that the U.S. Commerce Department has appointed Lightbridge CEO Seth Grae to the Civil Nuclear Trade Advisory Committee (CINTAC), a group of 39 senior-level executives that advises the Secretary of Commerce on ways to improve exports of U.S. nuclear energy products and services.
CINTAC is composed of private-sector representatives from the civil nuclear industry. CINTAC meets periodically throughout the year to discuss the most pressing trade issues facing the U.S. civil nuclear sector and contribute to policy discussions and work with government leaders. Mr. Grae has been an advisor to CINTAC since 2010.
"Maintaining U.S. leadership in the nuclear industry is critical to our country's economic vitality and to global efforts to combat climate change," said Penny Pritzker, current Commerce Secretary.
As a member of CINTAC, Mr. Grae will participate in the committee's duty to advise Wilbur Ross, recently nominated Secretary of Commerce, once he is confirmed by the Senate to the position, on the development and administration of programs and policies designed to boost the global flow of U.S. civil nuclear products and services.
Lightbridge's Grae said: "It is an honor to advise the Secretary of Commerce as part of the Civil Nuclear Trade Advisory Committee, and I look forward to helping improve the competitiveness of the U.S. nuclear energy sector and forging new partnerships with companies and countries around the world. Because of the clean, reliable and abundant power it produces, nuclear energy has great growth potential in many countries, and U.S. leadership in this sector can benefit our own economy and the planet."
About Lightbridge Corporation
Lightbridge is a nuclear fuel technology company based in Reston, Virginia, USA. 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.
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Lightbridge Corporation 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 entry into agreements with nuclear fuel manufacturers and the timing thereof, the potential impact of the U.S. Clean Power Plan and similar regulations, the Company's anticipated financial resources and position, the Company's product and service offerings, 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; 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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