RESTON, Virginia, October 12, 2021 (GLOBE NEWSWIRE) – Lightbridge Corporation (Nasdaq: LTBR), a leading nuclear fuel technology company, today announced that it has received notice of acceptance for a key divisional patent from the Australian Patent Office relating to the innovative assembly design of Lightbridge metallic nuclear fuel. The newly authorized patent is based on the 2015 Patent Cooperation Treaty (PCT) patent application and covers a fuel assembly having a mixed grid of fuel rods.
Lightbridge Fuel ™ was designed to improve the safety and economics of nuclear energy for existing and next generation nuclear reactors.
Seth Grae, President and CEO of Lightbridge, said, “We continue to expand our intellectual property portfolio around the world. Australia represents a potential strategic market for Lightbridge, particularly as one of the world’s largest uranium producers, and increasingly plans to continue producing nuclear power. We recently received similar patents in Japan and Korea for our design of metallic fuel assemblies with metallic fuel rods arranged in a mixed grid pattern. These patents are an important addition to our growing global patent portfolio. “
Lightbridge has patents pending in various countries around the world including the United States, South Korea, Canada, Japan, Eurasia and Australia, as well as other pending patents in Europe and China.
About Lightbridge Corporation
Lightbridge (NASDAQ: LTBR) is a leading nuclear fuel technology development company positioned to enable carbon-free energy applications that will be critical to preventing climate change. The Company is developing Lightbridge Fuel ™, a proprietary next-generation nuclear fuel technology for small modular reactors, as well as existing light water reactors, which significantly improves fuel safety, economy and resistance to proliferation. To date, Lightbridge has been twice awarded the US Department of Energy’s Gateway for Accelerated Innovation in Nuclear program to support the development of Lightbridge Fuel ™. Lightbridge’s innovative fuel technology is backed by an extensive portfolio of global patents. Lightbridge is included in the Russell Microcap® Index. For more information, please visit: www.ltbridge.com.
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Except for historical matters, the matters discussed in this document are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the timing and results of research and development activities, further steps to commercialize Lightbridge Fuel ™ and future government assistance and funding for nuclear power. These statements are based on current expectations as of the date of this press release and involve a number of risks and uncertainties which may cause actual results to differ materially from these estimates. The risks include, but are not limited to: the Company’s ability to commercialize its nuclear fuel technology; the degree of market adoption of the Company’s product and service offerings; the Company’s ability to finance corporate overheads and external research and development costs; competition in the market; our ability to attract and retain qualified employees; dependence on strategic partners; fuel demand for nuclear reactors, including small modular reactors; the Company’s ability to effectively manage its business in a rapidly changing market; the availability of nuclear test reactors and the risks associated with unexpected changes in the Company’s fuel development schedule; the increased costs associated with the metallization of our nuclear fuel; public perception of nuclear energy in general; changes in the political environment; risks associated with the continued spread of COVID-19, including the ultimate impact of COVID-19 on people, economies and the Company’s ability to access capital markets; changes in laws, rules and regulations governing the activities of the Company; the development, use and challenges of our intellectual property; risks associated with potential shareholder activism; potential and contingent liabilities; as well as other factors described in documents filed by Lightbridge with the Securities and Exchange Commission. Lightbridge assumes no obligation to update or revise these forward-looking statements, whether as a result of new developments or otherwise, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.
A more detailed description of the risks and uncertainties can be found in Lightbridge’s annual report on Form 10-K for the year ended December 31, 2020 and in its other filings with the Securities and Exchange Commission, including in the sections thereof entitled “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
Phone. : +1 (646) 828-8710