Lightbridge’s Jim Malone to Speak at World Nuclear Fuel Cycle Conference
RESTON, Va., April 18, 2018 (GLOBE NEWSWIRE) -- Lightbridge Corporation (NASDAQ:LTBR), a nuclear fuel technology company, today announced that Jim Malone, Chief Fuel Development Officer, is scheduled to speak at the World Nuclear Fuel Cycle conference on April 19. Organized by the Nuclear Energy Institute and World Nuclear Association, the World Nuclear Fuel Cycle Conference is an international forum taking place in Madrid from April 17-19.
During a panel discussion on fuel fabrication and innovation, Malone will update conference attendees on the development of Lightbridge’s metallic fuel, designed to make both existing and new nuclear power plants more efficient and cost-competitive.
“We continue to make steady progress toward developing and commercializing our new fuel design, which offers economic, efficiency and safety benefits for operators of existing nuclear power plants as well as new reactors. With the nuclear industry under pressure from inexpensive fossil fuels, the cost improvements of using Lightbridge fuel could make a major difference for nuclear plant operators,” Lightbridge’s Malone said. “Our work with Framatome, through our Enfission joint venture, has been moving rapidly, and we look forward to presenting these developments to senior industry executives and thought leaders attending the World Nuclear Fuel Cycle conference.”
Lightbridge announced in January the launch of a new joint venture, Enfission, to develop, license and sell nuclear fuel assemblies based on Lightbridge’s patented technology in partnership with Framatome, a leader in nuclear fuel, components and reactor services. The two companies are pursuing preliminary steps toward the testing of fuel samples at the Halden research reactor in Norway.
Nuclear Engineering Design, a leading scientific journal associated with European Nuclear Society, published an article on April 15 in which the authors found that Lightbridge fuel offered significant nonproliferation benefits compared to traditional fuel designs.
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.
Investor Relations Contact:
David Waldman/Natalya Rudman
Tel. +1 855-379-9900
Released April 18, 2018