In 1992 Lightbridge Corporation was formed to develop and deploy nuclear fuel designs developed by Dr. Alvin Radkowsky, one of the founding fathers of the U.S. nuclear industry and one of the industry’s most respected nuclear engineers. Dr. Radkowsky, formerly head of the U.S. Navy Nuclear Propulsion Program, was a key member of the design team that built Shippingport, the world’s first full-scale commercial nuclear power plant, and supervised more nuclear fuel core designs that were implemented and successfully operated than any other nuclear engineer in the history of the industry. A true pioneer, Dr. Radkowsky also sought to sever the link between nuclear weapons and nuclear power, and he developed thorium-based nuclear designs which would not produce weapons suitable plutonium in nuclear spent fuel.

To help realize Radkowsky's vision, Lightbridge Corporation went to Russia in 1994 and collaborated with nuclear scientists and engineers at the prestigious "Kurchatov Institute" research center. Since the original invention by Dr. Radkowsky, the technology initially underwent extensive scientific development and evaluation, and has now for over four years-been in the engineering development phase, including technology scale-up in a live research reactor. The company is now focused on advanced testing and commercialization of the technology.

Lightbridge Corporation's development and testing has followed standard industry protocols and is embarking on the next phase accelerating activities leading to the demonstration of Lightbridge Corporation's fuel technology in lead-test assemblies for use in a full-size commercial reactor - the final technology development phase before commercial deployment into multiple power plants.