Lightbridge Corporation Technology Featured in Leading Scientific Journal; Article Highlights Nonproliferation Benefits of Lightbridge’s Metallic Fuel
RESTON, Va., April 16, 2018 (GLOBE NEWSWIRE) -- Lightbridge Corporation’s (NASDAQ:LTBR), a nuclear fuel technology company, today announced that a peer-reviewed paper published in a leading scientific journal examines the nonproliferation benefits of Lightbridge’s metallic fuel. Entitled "Proliferation resistant plutonium: An updated analysis," the paper appears in the April 15 edition of Nuclear Engineering and Design, an international journal affiliated with the European Nuclear Society that is devoted to all aspects of nuclear fission energy.
Lightbridge President and CEO Seth Grae said: “We appreciate this independent validation of the nonproliferation benefits of our innovative metallic fuel design, which are in addition to other significant advantages of our fuel, such as enhanced safety, improved economics and reduced waste for both existing and new nuclear power plants. This article illustrates the growing support for our fuel, not just within the industry, but also the scientific community.”
The authors performed an independent evaluation via computer simulation of Lightbridge’s fuel design for a pressurized water reactor and concluded that the resultant plutonium would be useless in current nuclear weapon designs.
“Achieving a proliferation resistant, or possibly even proliferation proof, plutonium is a goal of the nuclear security and safeguards community,” the article notes. Describing Lightbridge fuel, the article states: “Any proliferators who obtained plutonium of this isotopic content would be unable to use it for weapons purposes, assuming the design of the Hypothetical Nuclear Explosive Device (HNED) was within the bounds of the models analyzed.”
Lightbridge filed a Form 8-K with the Securities and Exchange Commission on March 5, 2018 when it was first informed of this article.
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, which significantly enhances the economics and safety of nuclear power, operating about 1000° C cooler than standard fuel. In January 2018, Lightbridge and Framatome, Inc. formed a 50-50 joint venture, Enfission, LLC, to develop, license, manufacture, and sell nuclear fuel assemblies based on Lightbridge-designed metallic fuel technology and other advanced nuclear fuel intellectual property. Enfission has the exclusive rights to this technology and is responsible for the development of manufacturing processes and fuel assembly designs for pressurized water reactors (PWRs), boiling water reactors (BWRs), water-cooled small modular reactors, and water-cooled research reactors developed around this intellectual property. PWRs and BWRs constitute the most widely used reactor types in the world. Four large electric utilities that generate about half the nuclear power in the US already advise Lightbridge on fuel development and deployment. In addition to distributions from Enfission based on the parties’ ownership interest in the joint venture, Lightbridge anticipates receiving future licensing revenues in connection with sales by Enfission of nuclear fuel incorporating its intellectual property. 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.
Investors are encouraged to read the article in its entirety, including important assumptions and limitations discussed therein. Lightbridge has not evaluated the methodology used by the authors or the claims or conclusions set forth in the article. Lightbridge expressly disclaims any responsibility for the contents of the article and expressly disclaims any duty to update any information contained in the article, except as required by law.
Investor Relations Contact:
David Waldman/Natalya Rudman
Tel. +1 855-379-9900
ir@ltbridge.com
Released April 16, 2018