President and Chief Executive Officer
Mr. Seth Grae leads Lightbridge’s efforts to develop and deploy advanced nuclear reactor fuel that will result in more electricity being provided from existing and new reactors, as well as enhanced safety and proliferation resistance, to allow nuclear power to compete and grow internationally as a non-emitting source of base load electricity.
Lightbridge has also advised governments of countries seeking to start nuclear power programs from feasibility studies through procurement and operations. Lightbridge’s first major international engagement was to develop the strategic plan—the Roadmap for Success—for commercial nuclear energy for the United Arab Emirates.
Mr. Grae is a member of the Civil Nuclear Trade Advisory Committee (CINTAC) to the U.S. Secretary of Commerce and is a member of the Nuclear Energy Institute’s Board of Directors. He is a member of the Nuclear Security Working Group, Nuclear Energy and National Security Coalition, Working Group on Climate, Nuclear, and Security Affairs of the Council on Strategic Risks, and is a member of the Board of Directors of the Virginia Nuclear Energy Consortium. He is also a member of the Dean’s Advisory Council at the Washington College of Law at American University. He has served as Vice Chair of the Governing Board of the Bulletin of the Atomic Scientists, as a member of the Board of Directors of the Lawyers Alliance for World Security, and as Co-chair of the American Bar Association’s Committee on Arms Control & Disarmament.
Mr. Grae earned a B.A. (cum laude) from Brandeis University; an MBA and an LLM in international law from Georgetown University; and a JD from American University.
Andrey Mushakov, Ph.D.
Executive Vice President, Nuclear Operations
Dr. Andrey Mushakov oversees the nuclear fuel technology division of Lightbridge Corporation and is an expert in cost modeling and the economics of the nuclear fuel cycle. He has been with Lightbridge since 2000, and in 2006 he was named executive vice president for international nuclear operations. In 2018, Dr. Mushakov became executive vice president for nuclear operations.
In 2009, Dr. Mushakov led Lightbridge’s efforts to establish its Russian Branch Office in Moscow and oversaw its successful operation from 2009 to 2014 when Lightbridge made a decision to move its critical path fuel development and demonstration activities out of Russia due to increased political risk. In 2014-2015, Dr. Mushakov spearheaded an effort within Lightbridge to establish cooperation agreements with Canadian Nuclear Laboratories in Canada, BWXT in the United States, and the Institute for Energy Technology in Norway.Dr. Mushakov has been a featured speaker at international conferences and panels on nuclear fuel technology, including the Wharton Energy Conference and the World Nuclear Fuel Cycle Conference.
Dr. Mushakov earned a Ph.D. in economics from St. Petersburg State University of Economics and Finance, an M.S. degree in management from Hult International Business School, and a B.S. degree in banking and finance from the Financial University under the Government of the Russian Federation.
Larry Goldman, C.P.A.
Chief Financial Officer
Mr. Larry Goldman is a seasoned corporate finance executive with extensive auditing and strong SEC and SOX compliance experience and a proven track record of leading and advising public and private companies through capital markets transactions, international expansion, mergers and acquisitions, an IPO, and other complex financial transactions. Mr. Goldman has been working with Lightbridge since 2006 and serving as our Chief Accounting Officer since 2008.
From 1985 to 2004, Mr. Goldman was an Audit Assurance Partner for Livingston Wachtell & Co., LLP, a NYC CPA firm with over 20 years of assurance, tax and advisory services, including advisory work for a large privately held world-wide manufacturing and distribution company with consolidated annual revenues of approximately $1 billion, as well as working as engagement audit partner auditing public companies. Since September 2004, Mr. Goldman has provided consulting services to numerous public companies on various financial projects and has government contracting accounting experience.
Mr. Goldman had served as Audit Committee Chairman on the Board of Directors for Winner Medical Group Inc., a leading manufacturer and exporter of medical disposable products with over 6,500 employees and annual sales of over $60 million as well as several other Nasdaq companies.
Mr. Goldman has an MS Degree in Taxation from Pace University and Bachelor’s Degree in Business Administration with a concentration in Accounting. Mr. Goldman serves on the Chief Financial Officers Committee of the New York State Society of CPAs and is a member of the American Institute of Certified Public Accountants, where he has served on the SEC Practice Committee and on the Management Consulting Committee. He has also been published in the New York CPA Journal.
Aaron Totemeier, Ph.D.
Vice President, Fuel Cycle Technology and Fuel Fabrication
Dr. Aaron Totemeier is an expert in nuclear fuel technologies, radiation damage, and the nuclear fuel cycle. He joined Lightbridge in 2008 as a nuclear engineer and soon became an integral member of the fuel technology development team.
Dr. Totemeier was involved in many aspects of Lightbridge’s thorium seed and blanket fuel technology development and evaluating its deployment in the existing light water reactor infrastructure. In 2010 Dr. Totemeier became the Director of Fuel Cycle Technology & Fuel Fabrication for Lightbridge, leading the technology development for Lightbridge’s advanced metallic fuel for power uprates and cycle length extension. In this role, Dr. Totemeier provides technical oversight and direction for Lightbridge’s research and development activities including coordination with partner entities and management of technical consultants. Dr. Totemeier provides strategic advice on nuclear power projects for Lightbridge and its partners, including technology evaluation, development, and regulatory compliance. Dr. Totemeier was appointed to the Small Modular Reactors Working Group of the U.S. Department of Commerce International Trade Administration in 2022.
Prior to joining Lightbridge, Dr. Totemeier was a laboratory manager at the Fuel Cycle & Materials Laboratory at Texas A&M University, a leading nuclear fuel cycle experimental facility. While there, Dr. Totemeier worked with many nuclear fuel cycle research projects including the development of fabrication technologies for advanced metallic nuclear fuels via extrusion.
Dr. Totemeier earned bachelor of science and master of science degrees in nuclear engineering at Purdue University and earned a Ph.D. degree in nuclear engineering at Texas A&M University.
Vice President, Program Management
Mr. James Fornof is Vice President, Program Management at Lightbridge Corporation, providing leadership, management and oversight of projects involving government funding, and assisting the company with the implementation of corporate goals and strategic initiatives.
Prior to joining the company in 2018, Mr. Fornof held several senior roles in nuclear projects and operations and power services. He was Director of International Nuclear Operations at Fluor Power Group, a global Fortune 500 firm, where he was responsible for nuclear projects globally, including new build EPC, operating plant capital improvements and decommissioning. He led international nuclear development pursuits in the United Kingdom, Argentina, Poland and Saudi Arabia, including client interface, technology partnering, and supply chain development.
Previously Mr. Fornof was Director of Commercial Operations at BHI Energy | Power Services, a private equity-owned provider of maintenance and modification services to the nuclear, fossil, renewable, petrochemical and government sectors. He led the integration of the commercial process for multiple acquired product lines including maintenance and modification services, rotating equipment maintenance, valve services, I&C-E, steam and combustion turbine, and renewables. This included bid/no-bid determinations, pricing, proposal development and corporate governance.
Mr. Fornof was also Director of Strategic Investment and Manager of Business Development for Nuclear Power Plants at Westinghouse Electric Company, and has held marketing, project management and business development positions with WesDyne International, DQE, OnDemand Energy Solutions, Allegheny Development Corporation and Duquesne Light Company.
Mr. Fornof is a graduate of the Ohio State University, where he received a B.S.M.E. in nuclear engineering. He earned an M.B.A. in finance from Carnegie Mellon University’s Tepper School, and conducted post-graduate studies at the Otto Beisheim Graduate School of Management (WHU) in Koblenz, Germany. He is a registered Professional Engineer and a Chartered Financial Analyst.
Sherrie Holloway is an accounting professional with over 30 years of experience and leadership in a wide variety of corporate accounting functions for both public and private companies, including financial reporting, SEC reporting, monthly closing, external & internal audit, accounts payable, budgeting, reconciliations, restatements and post-merger acquisitions. Ms. Holloway’s industry expertise spans ‘Big 4’ public accounting, energy and natural gas, transportation, and international companies. Ms. Holloway is a member of the U.S. Women in Nuclear, an organization that aims to position the United States for the future of nuclear energy and technology through the advancement of women.
Prior to joining Lightbridge in 2018, Ms. Holloway served as a consultant for 16 years, including 14 years with RGP, formerly known as Resources Global Professionals. As a consultant, Ms. Holloway undertook various sensitive and critical roles on behalf of clients, including as Acting Regional Accounting Manager for both domestic and foreign subsidiaries, as Project Coordinator on a post-merger ERP consolidation, as Project Manager and Team Lead on a post-Oracle implementation for reconciling $3 billion of construction in progress accounts. Ms. Holloway’s clients included companies such as Lightbridge Corporation, Leidos, Deltek, The AES Corporation and Metropolitan Washington Airports Authority.
Prior to her consulting experience, Ms. Holloway served as Accounting Manager for CNG International Corporation, a subsidiary of Consolidated Natural Gas Company which was later acquired by Dominion Resources, Inc. Ms. Holloway also worked for Consolidated Natural Gas at their headquarters in Pittsburgh PA as Supervisor, General Accounting and as an Internal Auditor.
Prior to working at Consolidated Natural Gas, Ms. Holloway worked as a Financial Auditor for Price Waterhouse, LLP where she worked on various public and private companies.
Ms. Holloway is a graduate of The Pennsylvania State University where she received a Bachelor of Science in Accounting.
Darla M. Bond
Human Resources Manager
Darla Bond is a Senior International Human Resources Professional, with over 30 years of diverse international human resources experience and leadership in both large corporate environments and small business entities. Since 2011, Darla has provided HR consulting services in all aspects of human resource operations. She is the President and Senior Consultant in her company, HR UNLTD LLC.
Prior to starting her own consulting business, Darla's career included over two decades of human resource service in Insurance and Call Center Operations. Her experience in the call center industry included site operations in the United States, Canada, Latin America, Caribbean, South Africa, India and the Philippines. As Vice-President, Human Resources, she developed and implemented human resources policies, including legal compliance, employee benefits, employee relations, employment practices and procedures, employee communications and employee events.
Throughout her career, Darla has successfully designed HR programs, policies, and services to align employees with company goals. She prides herself in being a strategic, energetic, "hands-on" collaborative business partner, achieving results and influencing organizational success.
Darla graduated from the University of South Florida, where she received a B.A. in Business Administration, majoring in HR Management. She is a national member of the Society for Human Resource Management (SHRM) and holds a Professional in Human Resources Certification, (PHR) from the HR Certification Institute.