Lightbridge Senior Executives Assume Key Positions in Prestigious Nuclear Energy Industry Groups
Lightbridge CEO Seth Grae Discusses IAEA Nuclear Energy Summit on Scripps TV
RESTON, Va., March 21, 2024 (GLOBE NEWSWIRE) -- Lightbridge Corporation (“Lightbridge”) (Nasdaq: LTBR), an advanced nuclear fuel technology company, today announced the appointments of senior Lightbridge executives within leading U.S. nuclear energy industry groups.
Seth Grae, President and CEO of Lightbridge, has been appointed as the Chair of the American Nuclear Society’s (ANS) International Council. The ANS International Council, a standing subcommittee of the ANS External Affairs Committee (EAC), focuses on enhancing global communication among nuclear experts, advising on international developments, fostering cooperation with various international nuclear and non-nuclear organizations, and establishing ANS as a key advocate for the safe, secure, and economical use of nuclear science and technology worldwide.
“I am honored to assume this role and look forward to working with international partners to address the immense potential of nuclear science and technology,” said Mr. Grae.
James Fornof, Vice President of Program Management at Lightbridge, has taken a seat on the Board of Directors at the United States Nuclear Industry Council (USNIC). USNIC serves as a primary advocate for the advancement of nuclear energy in the U.S. and the promotion of the American nuclear supply chain on a global scale. Representing around 80 companies involved in various aspects of nuclear innovation and supply chain development, USNIC supports a broad range of activities beyond energy production, including national security, medical therapies, environmental management, and space exploration. Through educational programs, industry insights, and market intelligence, USNIC facilitates collaboration between legislators across political lines, promoting nuclear energy as a key component of a successful clean energy paradigm.
“Joining the USNIC Board of Directors is a great opportunity to contribute to the advancement of the nuclear industry, and I am eager to bring my insights and experiences to the council,” Mr. Fornof commented.
Scripps TV Interview
Lightbridge President and CEO Seth Grae was interviewed on Scripps TV by Chance Seales from Brussels, Belgium, ahead of the IAEA Nuclear Energy Summit. Mr. Grae discussed the growth and future prospects of nuclear power on the eve of the first-ever Nuclear Energy Summit in Brussels. Hosted in collaboration with the IAEA, the summit sees the participation of business leaders and representatives from at least 37 nations, focusing on nuclear power expansion and sustainability.
Grae highlighted the construction of new nuclear plants worldwide, the extension of existing plants’ operating licenses, and the reopening of some previously closed facilities. This momentum was catalyzed by a pledge made at the UN Climate Conference in Dubai to triple global nuclear power by 2050, signaling a shift from ambition to action. Grae expects government representatives at the Summit today will place a special emphasis on financing mechanisms and that the U.S. delegation will stress deployment of American technology due to its benefits, including high safety standards. Lightbridge is innovating in the nuclear fuel sector, developing metallic fuel that offers significant performance, safety, and economic benefits, including compatibility with new small modular reactors and the potential for integration into zero-carbon grids that include renewables. Grae also addressed public concerns about nuclear power plant locations, suggesting that Lightbridge Fuel could drastically reduce emergency zones, thereby mitigating 'not in my backyard' sentiments while underscoring the importance of clean, reliable, and safe energy in meeting rising global energy demands.
The link to the interview can be found at https://www.ltbridge.com/news-media/media-gallery/video/video/7196/interview-with-scripps-news-from-march-20-2024.
About Lightbridge Corporation
Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential for delivering abundant, zero-emission, clean energy and providing energy security to the world. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and pressurized heavy water reactors, significantly enhancing reactor safety, economics, and proliferation resistance. The Company is also developing Lightbridge Fuel for new small modular reactors (SMRs) to bring the same benefits plus load-following with renewables on a zero-carbon electric grid.
Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance LLC, the United States Department of Energy’s operating contractor for Idaho National Laboratory, the United States’ lead nuclear energy research and development laboratory. DOE’s Gateway for Accelerated Innovation in Nuclear program has twice awarded Lightbridge to support the development of Lightbridge Fuel over the past several years. Lightbridge is participating in two university-led studies through the DOE Nuclear Energy University Program at Massachusetts Institute of Technology and Texas A&M University. An extensive worldwide patent portfolio backs Lightbridge’s innovative fuel technology. Lightbridge is included in the Russell Microcap® Index. For more information, please visit www.ltbridge.com.
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Forward Looking Statements
With the exception of historical matters, the matters discussed herein are forward-looking statements. 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: Lightbridge’s ability to commercialize its nuclear fuel technology; the degree of market adoption of Lightbridge’s product and service offerings; Lightbridge’s ability to fund general corporate overhead and outside research and development costs; market competition; our ability to attract and retain qualified employees; dependence on strategic partners; demand for fuel for nuclear reactors; Lightbridge’s ability to manage its business effectively in a rapidly evolving market; the availability of nuclear test reactors and the risks associated with unexpected changes in Lightbridge’s fuel development timeline; the increased costs associated with metallization of Lightbridge’s nuclear fuel; public perception of nuclear energy generally; changes in the political environment; risks associated with war in Europe; changes in the laws, rules and regulations governing Lightbridge’s business; development and utilization of, and challenges to, Lightbridge’s intellectual property; risks associated with potential shareholder activism; potential and contingent liabilities; as well as other factors described in Lightbridge's filings with the Securities and Exchange Commission (the “SEC”). Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise, except as required by law. Readers are cautioned not to put undue reliance on forward-looking statements.
A further description of risks and uncertainties can be found in Lightbridge’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and in its other filings with the SEC, including in the sections thereof captioned “Risk Factors” and “Forward-Looking Statements”, all of which are available at http://www.sec.gov/ and www.ltbridge.com.
Investor Relations Contact:
Matthew Abenante, IRC
Director of Investor Relations
Tel: +1 (347) 947-2093
ir@ltbridge.com
Released March 21, 2024