Lightbridge Receives Notification of Patent Grant from the European Patent Office for its Innovative Fuel Rod Design
RESTON, Va., Feb. 13, 2020 (GLOBE NEWSWIRE) -- Lightbridge Corporation (“Lightbridge,” or the “Company”) (NASDAQ: LTBR), an advanced nuclear fuel technology company, today announced that it has received a Decision to Grant from the European Patent Office (EPO) for Patent #3195324 related to a Lightbridge metallic fuel assembly design for use in CANDU-type reactors. According to the World Nuclear Association, there are 48 CANDU-type pressurized heavy water reactors currently in use around the world.
Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, “We are excited to see the continued progress for the Company's intellectual property strategy to protect our innovative technology, while significantly expanding our market opportunities globally. The addition of this new piece of intellectual property underscores the strength of our proprietary technology, which is designed to enhance the operating safety and efficiency of existing reactors as well as new reactors."
About Lightbridge Corporation
Lightbridge (NASDAQ: LTBR) is an advanced 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. Lightbridge invented, patented and has independently validated the technology, including successful demonstration of the fuel in a research reactor with plans to demonstrate the fuel under commercial reactor conditions. The Company has assembled a world class development team including veterans of leading global fuel manufacturers. Four large electric utilities that generate about half the nuclear power in the US already advise Lightbridge on fuel development and deployment. The Company operates under a licensing and royalty model, independently validated and based on the increased power generated by Lightbridge-designed fuel and high ROI for operators of existing and new reactors. 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 timing and outcome of research and development activities and other steps to commercialization of Lightbridge Fuel™, the Company's entry into a commercial utility agreement, and the Company's anticipated financial resources and position. 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:
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Released February 13, 2020