Enfission CEO Seth Grae to Speak at NEI Nuclear Energy Assembly
RESTON, Va., May 21, 2018 (GLOBE NEWSWIRE) -- Enfission CEO Seth Grae will provide an update at the Nuclear Energy Institute's annual conference May 22 on the development of the company's metallic fuel technology designed to make both existing and new nuclear power plants more efficient and economical. Enfission is a joint venture of Lightbridge Corporation (NASDAQ:LTBR), a nuclear fuel developer, and Framatome, a global supplier of nuclear fuel, plants and services.
Many industry leaders are expected to attend NEI's Nuclear Energy Assembly, one of the U.S. nuclear sector’s premier events, May 22-24 in Atlanta, as they confront a challenging landscape of existing plants closing prematurely and few new plant orders. Enfission's Grae, who also serves as CEO of Lightbridge, will join a panel of experts discussing how innovation can improve nuclear energy’s market outlook and pave the way to next-generation technology.
Commenting on the Nuclear Energy Assembly panel Enfission CEO Seth Grae said: "Experts agree that nuclear power is essential to meeting our planet's growing energy needs while protecting the climate, because nuclear plants can produce reliable, emission-free power. But, the challenges facing nuclear energy, especially in the United States, may prevent America's largest carbon-free source from fulfilling its promise. Innovation is how the nuclear industry can overcome its present dilemma, through solutions such as Enfission's metallic fuel technology, designed to produce more power from existing or new nuclear power plants and therefore be more competitive with other sources."
Framatome and Lightbridge officially launched the Enfission joint venture in January to develop and commercialize advanced fuel assemblies based on Lightbridge patented technology for nuclear plant operators around the world.
About Framatome Inc.
Framatome, previously known as New NP (former subsidiary of AREVA NP), is a major international player in the nuclear energy market focused on designing, building, maintaining and advancing the global nuclear fleet. In North America, Framatome Inc. combines U.S. and Canadian leadership to deliver innovative solutions and value-added technologies to support the operation of the commercial nuclear fleet and prepare for the next generation of nuclear power plants. Leveraging the expertise of its 2,300 North American employees, Framatome Inc. is helping its customers improve the safety and performance of their nuclear plants and achieve their economic and societal goals.
Framatome is owned by the EDF Group (75.5%), Mitsubishi Heavy Industries (MHI – 19.5%) and Assystem (5%).
About Lightbridge Corporation
Lightbridge is a nuclear fuel technology company based in Reston, Virginia, USA. The Company develops proprietary next generation nuclear fuel technologies for current and future nuclear reactor systems. Lightbridge's breakthrough fuel technology is establishing new global standards for safe and clean nuclear power and leading the way to a sustainable energy future. The Company also provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence.
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Lightbridge Corporation Forward Looking Statements
With the exception of historical matters, the matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's competitive position, the timing of demonstration testing and commercial production, the Company's entry into agreements with nuclear fuel manufacturers and the timing thereof, the potential impact of the U.S. Clean Power Plan and similar regulations, the Company's anticipated financial resources and position, the Company's product and service offerings, the expected market for the Company's product and service offerings. 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, the degree of market adoption of the Company's product and service offerings; market competition; dependence on strategic partners; demand for fuel for nuclear reactors; the Company's ability to manage its business effectively in a rapidly evolving market; as well as other factors described in Lightbridge's filings with the Securities and Exchange Commission. Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise. Readers are cautioned not to put undue reliance on forward-looking statements.
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Released May 21, 2018