Lightbridge Launches Engineering Study to Assess Lightbridge Fuel for Use in CANDU Reactors
17 Outubro 2023 - 8:30AM
Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel
technology company, is pleased to announce it has engaged
Institutul de Cercetări Nucleare Pitești, a subsidiary of Regia
Autonoma Tehnologii pentru Energia Nucleara (RATEN ICN) to perform
an engineering study to assess the compatibility and suitability of
Lightbridge Fuel™ for use in CANDU reactors. This assessment will
cover key areas including mechanical design, neutronics analysis,
and thermal and thermal-hydraulic evaluations. The findings from
the engineering study will play an important role in guiding future
economic evaluations and navigating potential regulatory
licensing-related issues.
What are CANDU Reactors?Canada
Deuterium Uranium (CANDU) reactors, initially designed in Canada
during the 1960s, use natural-uranium fuel and heavy water as both
a moderator and coolant. Unique in their design, they can be
refueled while operating at full power. This contrasts with US
reactors that require shutdown during refueling. CANDU is the
standard for Canadian nuclear power and is also used in Argentina,
China, India, Pakistan, Romania, and South Korea.
Daniela Diaconu, Scientific Deputy Director of
Institutul de Cercetări Nucleare Pitești, commented, “We are
pleased to collaborate with Lightbridge on this engineering study
to investigate the advantages of using Lightbridge’s innovative
nuclear fuel in CANDU reactors. This engineering study is in line
with our mission of supporting the development of technologies that
ensure national scientific and technical support in the field of
nuclear power and contributes to sustaining international
cooperation.”
Seth Grae, President & Chief Executive
Officer of Lightbridge Corporation, commented, “Today’s
announcement is an important step for Lightbridge. This engineering
study will help us assess the viability of using Lightbridge Fuel
in a CANDU reactor, which will help guide our commercialization
pathway in determining the types of reactors that we prioritize.
The distinctive design of CANDU reactors, such as the smaller
dimensions of CANDU fuel rods and shorter irradiation time of the
fuel in the core as well as their unique refueling process
highlight their potential appeal. Positive confirmation from this
engineering study potentially will provide us with the opportunity
to expedite our commercialization timelines.
About RATEN ICN PiteștiRATEN
ICN Pitesti’s mission is to provide scientific and technological
support for the national nuclear energy program, the vital
component in ensuring sustainable, clean and safe electricity for
the citizens of Romania. The nuclear energy program in Romania
provides for the safe and competitive operation of Units 1 and 2 at
Cernavoda, the refurbishment of Unit 1, the completion of Units 3
and 4, the construction of a new nuclear power plant based on Small
Modular Reactors (SMRs), the medium and long-term promotion of
advanced IV generation reactors, including construction of a LFR
reactor demonstrator (ALFRED), safe disposal of spent fuel and
radioactive waste. The institute ensures the operation,
development, and use of the necessary infrastructure for the
development of research and development programs, the education and
training of specialists, as well as sustained international
cooperation, as essential elements for a sustainable nuclear energy
sector. RATEN ICN also promotes the development and application of
nuclear technologies in medicine, industry or agriculture, adding
an important contribution to increasing the standard of living for
the benefit of citizens.
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 SMRs to bring the same benefits plus
load-following with renewables on a zero-carbon electric grid.
Lightbridge has entered into two long-term
framework agreements with Battelle Energy Alliance, LLC, DOE’s
operating contractor for Idaho National Laboratory (INL), the
United States' lead nuclear energy research and development
laboratory. DOE’s Gateway for Accelerated Innovation in Nuclear
(GAIN) program has twice awarded Lightbridge to support the
development of Lightbridge Fuel over the past several years.
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.
To receive Lightbridge Corporation updates via
e-mail, subscribe at
https://www.ltbridge.com/investors/news-events/email-alerts
Lightbridge is on X (formerly Twitter). Sign up to follow
@LightbridgeCorp at http://twitter.com/lightbridgecorp.
Lightbridge is on Threads @lightbridgecorp.
Lightbridge is on We Don’t Have Time. Join the dialogue at
https://app.wedonthavetime.org/profile/Lightbridge
For an introductory video on Lightbridge, please visit
www.ltbridge.com or click here to watch the video.
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
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e78ec63b-6b39-4a99-8d16-9b452423a770
Lightbridge (NASDAQ:LTBR)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Lightbridge (NASDAQ:LTBR)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024