Lightbridge CEO Seth Grae Reappointed to Civil Nuclear Trade Advisory Committee (CINTAC) to U.S. Secretary of Commerce
RESTON, Va., May 13, 2021 (GLOBE NEWSWIRE) -- Lightbridge Corporation (“Lightbridge,” or the “Company”) (NASDAQ: LTBR), an advanced nuclear fuel technology company, is pleased to announce that Lightbridge President and CEO Seth Grae has been reappointed by U.S. Secretary of Commerce Gina Raimondo to the Civil Nuclear Trade Advisory Committee (CINTAC) as a representative from Lightbridge Corporation and of small business companies in the U.S. nuclear energy sector, effective immediately. As a member of CINTAC, Mr. Grae participates in the committee’s duty to advise Secretary Raimondo on developing and administering programs and policies to expand U.S. exports of civil nuclear goods and services.
CINTAC is composed of private-sector representatives from the nuclear power industry. CINTAC meets periodically throughout the year to discuss the most pressing trade issues facing the U.S. civil nuclear sector, contribute to policy discussions, and work with government leaders.
Seth Grae, President and CEO of Lightbridge Corporation, commented, “I am honored to be a member of this esteemed committee and to participate in its advisory roles to Secretary Raimondo. This is an exciting time for Lightbridge and advanced nuclear technologies, and I look forward to supporting America’s global leadership position in nuclear technology.”
About Lightbridge Corporation
Lightbridge (NASDAQ: LTBR) is an advanced nuclear fuel technology development company positioned to enable carbon-free energy applications that will be essential in preventing climate change. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for Small Modular Reactors, as well as existing light-water reactors, which significantly enhances reactor safety, economics, and fuel proliferation resistance. To date, Lightbridge has been awarded twice by the U.S. Department of Energy’s Gateway for Accelerated Innovation in Nuclear program to support development of Lightbridge Fuel™. Lightbridge’s innovative fuel technology is backed by an extensive worldwide patent portfolio. For more information please visit: www.ltbridge.com.
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Forward Looking Statements
With the exception of historical matters, the matters discussed herein 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, other steps to commercialize Lightbridge Fuel™ and future governmental support and funding for nuclear energy. 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 Company’s ability to commercialize its nuclear fuel technology; the degree of market adoption of the Company's product and service offerings; the Company’s ability to fund general corporate overhead and outside research and development costs; market competition; our ability to attract and retain qualified employees; dependence on strategic partners; demand for fuel for nuclear reactors, including small modular reactors; the Company's ability to manage its business effectively in a rapidly evolving market; the availability of nuclear test reactors and the risks associated with unexpected changes in the Company’s fuel development timeline; the increased costs associated with metallization of our nuclear fuel; public perception of nuclear energy generally; changes in the political environment; risks associated with the further spread of COVID-19, including the ultimate impact of COVID-19 on people, economies, and the Company’s ability to access capital markets; changes in the laws, rules and regulations governing the Company’s business; development and utilization of, and challenges to, our intellectual property; risks associated with potential shareholder activism; potential and contingent liabilities; 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, except as required by law. Readers are cautioned not to put undue reliance on forward-looking statements.
A further description of risks and uncertainties can be found in Lightbridge’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and in its other filings with the Securities and Exchange Commission, including in the sections thereof captioned “Risk Factors” and “Forward-Looking Statements”, all of which are available at http://www.sec.gov/ and www.ltbridge.com.
Investor Relations Contact:
Matthew Abenante, IRC
Director of Investor Relations
Tel: +1 (646) 828-8710
Released May 13, 2021