Enfission to Present Innovative Metallic Fuel Technology at World Nuclear Exhibition
RESTON, Va., June 19, 2018 (GLOBE NEWSWIRE) -- Executives from Enfission, LLC, a joint venture between Lightbridge Corporation (NASDAQ:LTBR), a nuclear fuel developer, and Framatome, a global leader in nuclear fuel, components, and reactor services, will present its cutting-edge metallic fuel technology at a workshop during the World Nuclear Exhibition on June 28 at 12:00 p.m. local Paris time. At the workshop, Enfission CEO Seth Grae and Enfission Project Director Aaron Totemeier will provide an overview of the development of the Lightbridge Fuel technology, designed to make existing and new nuclear power plants significantly more efficient and cost competitive.
Enfission and Lightbridge will also offer information about the advantages of the innovative metallic fuel at their stand, F-156, in Hall 7 throughout the duration of the World Nuclear Exhibition in Paris from June 26-28, 2018. The stand will provide information about Enfission and its mission to commercialize and produce fuel assemblies for nuclear plant operators around the world based on Lightbridge’s fuel designs.
Enfission CEO Grae said: “As the world’s largest gathering of its type, the World Nuclear Exhibition is an excellent venue to educate industry, regulatory and government officials, as well as global institutional investors, on the benefits of Lightbridge Fuel technology, which promises to make both existing and new nuclear power plants even safer and more economical. We’re also designing the fuel to enhance proliferation resistance of used fuel, as well as facilitate the ability of reactors to load follow so they can be paired with renewables, and extend the licensed lives of reactors. The world must significantly expand the use of nuclear energy in order to protect the climate, while meeting the world’s growing energy needs. For this reason, solutions such as ours, aimed at improving nuclear energy’s safety and economics, are even more vital.”
About Lightbridge Corporation
Lightbridge (NASDAQ:LTBR) is a nuclear fuel technology development company based in Reston, Virginia, USA. The Company develops proprietary next generation nuclear fuel technologies for current and future reactors, which significantly enhances the economics and safety of nuclear power, operating about 1000° C cooler than standard fuel. In January 2018, Lightbridge and Framatome, Inc. formed a 50-50 joint venture, Enfission, LLC, to develop, license, manufacture, and sell nuclear fuel assemblies based on Lightbridge-designed metallic fuel technology and other advanced nuclear fuel intellectual property. Enfission has the exclusive rights to this technology and is responsible for the development of manufacturing processes and fuel assembly designs for pressurized water reactors (PWRs), boiling water reactors (BWRs), water-cooled small modular reactors, and water-cooled research reactors developed around this intellectual property. PWRs and BWRs constitute the most widely used reactor types in the world. Four large electric utilities that generate about half the nuclear power in the US already advise Lightbridge on fuel development and deployment. In addition to distributions from Enfission based on the parties’ ownership interest in the joint venture, Lightbridge anticipates receiving future licensing revenues in connection with sales by Enfission of nuclear fuel incorporating its intellectual property. Lightbridge also provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. For more information please visit: www.ltbridge.com.
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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 joint venture operating agreement and other binding agreements with Framatome, the expected cooperation between Framatome and the Company, the ability of commercial nuclear utilities to generate more electricity from their nuclear power plants using Lightbridge fuel, and that the economic and safety benefits of our fuel will encourage greater use of nuclear power. 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.
Investor Relations Contact:
David Waldman/Natalya Rudman
Tel. +1 855-379-9900
Released June 19, 2018