Lightbridge Receives Notice of Allowance for a Pivotal Manufacturing Method Patent in the United States for its Metallic Fuel Rods
10 Agosto 2023 - 8:30AM
Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel
technology company, announced that it received a Notice of
Allowance for a crucial divisional patent from the United States
Patent and Trademark Office related to a method of manufacturing
Lighbridge’s multi-lobe helically twisted metallic fuel rods via
the casting route, which is the Company’s preferred method of
forming a fuel core billet prior to co-extrusing an entire billet
assembly (i.e., fuel core billet together with a central displacer
wire and a zirconium alloy cladding canister) into a complete fuel
rod.
Scott Holcombe, Vice President of Engineering at
Lightbridge, stated, “This new U.S. patent coincides with our
ongoing work at Idaho National Laboratory (INL) where we have
recently performed initial castings using depleted uranium (U) and
zirconium (Zr) to produce U-Zr fuel alloy ingots, which are
currently undergoing characterization. Our next steps are to scale
up the ingot size to form fuel core billets suitable for extrusion,
and then to conduct initial extrusions.”
Seth Grae, President & Chief Executive
Officer of Lightbridge, commented, “This is an important expansion
of Lightbridge’s intellectual property around the manufacturing
process for our patented metallic fuel rods. This accomplishment
underscores our dedication to technological leadership in advanced
nuclear technologies, while strengthening our intellectual property
protection in the United States, which is essential to our efforts
in commercializing Lightbridge Fuel™.”
About Lightbridge
CorporationLightbridge Corporation (NASDAQ: LTBR) is
focused on developing advanced nuclear fuel technology essential
for delivering abundant, zero-emission, clean energy and providing
energy security to the world. The Company is developing Lightbridge
Fuel™, a proprietary next-generation nuclear fuel technology for
existing light water reactors and pressurized heavy water reactors,
significantly enhancing reactor safety, economics, and
proliferation resistance. The Company is also developing
Lightbridge Fuel for new Small Modular Reactors (SMRs) to bring the
same benefits plus load-following with renewables on a zero-carbon
electric grid.
Lightbridge has secured a long-term strategic
partnership with Idaho National Laboratory (INL), the United
States' lead nuclear energy research and development laboratory, in
collaboration with the U.S. Department of Energy (DOE). DOE’s
Gateway for Accelerated Innovation in Nuclear (GAIN) program has
twice awarded Lightbridge to support the development of Lightbridge
Fuel. Lightbridge is participating in two university-led studies
through the DOE Nuclear Energy University Program at Massachusetts
Institute of Technology and Texas A&M University. An extensive
worldwide patent portfolio backs Lightbridge’s innovative fuel
technology. Lightbridge is included in the Russell Microcap® Index.
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 anticipated benefits of
Lightbridge Fuel™ in SMRs and the outcomes of the study. 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; 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 war in Europe; 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, 2022, 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,
IRCDirector of Investor Relations Tel: +1 (347) 947-2093
ir@ltbridge.com
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