Enfission to Present Simulation of Lightbridge Fuel™ Rod Co-Extrusion Process at Transvalor International Simulation Days 2019

RESTON, Va., Sept. 25, 2019 (GLOBE NEWSWIRE) -- Enfission, LLC, a joint venture between Lightbridge Corporation (NASDAQ: LTBR) and Framatome, today announced that Dr. Alexis Gaillac of Framatome, will present “Modeling of the Lightbridge Fuel™ Rods Co-Extrusion Process” at the Transvalor International Simulation Days 2019 on Tuesday, October 15, at 3:45 p.m. Central European Summer Time. Transvalor International Simulation Days 2019 is a three-day conference, which brings together academics and experts that are interested in the latest innovations, new services and technologies for the design and manufacturing for new products.

Together with Transvalor, Enfission has developed a computer simulation of the coextrusion process that will be used to further optimize the process. Dr. Gaillac, an expert on extrusion and metallurgy, was the lead developer of the computer simulation model to support Lightbridge’s fabrication activities.

Enfission’s metallic Lightbridge Fuel rod comprises three components: a uranium-zirconium alloy fuel core, a corrosion-resistant zirconium alloy cladding, and a central displacer. These components become metallurgically-bonded during the high-temperature coextrusion process. As part of their fuel development program, the parties developed a computer model to simulate the process enabling refinement and optimization to occur more quickly.

Seth Grae, CEO of Lightbridge Corporation commented, "We recently announced that we successfully demonstrated the high temperature coextrusion process for making Lightbridge Fuel™ surrogate rods at a length required for commercial water-cooled nuclear reactors. The physical samples from the demonstration  will be used for further validation and improvement of the computer model, which, in turn, will be used to design the next round of physical demonstrations.”

About Enfission

Enfission is a U.S.-based 50-50 joint venture between Lightbridge Corporation 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, and then follow with production of Lightbridge Fuel™ assemblies for other types of reactors and for markets around the world. Additional information about the Company is available at https://www.enfission.net/. 

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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About Framatome

Framatome is an international leader in nuclear energy recognized for its innovative solutions and value added technologies for the global nuclear fleet. With worldwide expertise and a proven track record for reliability and performance, the company designs, services and installs components, fuel, and instrumentation and control systems for nuclear power plants. Its more than 14,000 employees work every day to help Framatome’s customers supply ever cleaner, safer and more economical low-carbon energy. Visit us at www.framatome.com, and follow us on Twitter: @Framatome_ and LinkedIn: Framatome

Investor Relations Contact:

David Waldman/Natalya Rudman
Tel. +1 855-379-9900
ir@ltbridge.com

Released September 25, 2019