FACT-MASTER
2 weeks ago
LTBR: Press release of interest dated June 25/24:
Lightbridge Welcomes Passage of the ADVANCE Act, Landmark Legislation to Expedite Commercial Deployment of Advanced Nuclear Fuel and Other Advanced Nuclear Technologies
RESTON, Va., June 25, 2024 (GLOBE NEWSWIRE) -- Lightbridge Corporation (“Lightbridge”) (Nasdaq: LTBR), an advanced nuclear fuel technology company, applauds the passage of the ADVANCE Act, or the Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy Act, which aims to accelerate the deployment of advanced nuclear energy in the United States. Earlier this year, the U.S. House of Representatives passed the bill on a 365-36 vote, and the U.S. Senate overwhelmingly voted 88-2 to approve the legislation.
The ADVANCE Act focuses on streamlining the regulatory process at the Nuclear Regulatory Commission (NRC), supporting the development and deployment of new nuclear technologies, and strengthening the domestic nuclear supply chain.
Seth Grae, President & CEO of Lightbridge Corporation, commented, "We are thrilled to see the ADVANCE Act pass with such overwhelming support in both the House and the Senate. While the Act does not remove all hurdles facing deployment of advanced nuclear technologies, this landmark legislation marks a significant step forward for the nuclear industry and reinforces the critical role of advanced nuclear technologies in our clean energy future. By streamlining regulatory processes, supporting the development of innovative nuclear technologies, and strengthening the domestic supply chain, the ADVANCE Act paves the way for a more financially sustainable and competitive nuclear energy landscape in the United States.”
"We are particularly encouraged by the expedited NRC licensing process for advanced nuclear fuel technologies. The Act directs the NRC to establish an initiative to enhance preparedness and coordination with respect to qualification and licensing of advanced nuclear fuel. The Act also specifically calls for government agency coordination relating to enabling the testing and demonstration of accident tolerant fuels for existing commercial nuclear reactors and also directs the NRC to assess the preparedness of the NRC to review and qualify use of accident tolerant fuel and high-assay low-enriched uranium fuels. The NRC’s inclusion of Lightbridge Fuel™ on its website under Longer Term Accident Tolerant Fuel Technologies (https://www.nrc.gov/reactors/power/atf/technologies/longer-term.html) is a testament to the innovative potential of our fuel technology. We expect this accelerated pathway will lead to expediting licensing of Lightbridge Fuel for commercial use when it is in the NRC licensing process," concluded Mr. Grae.
About?Lightbridge Corporation
Lightbridge 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 entered into two long-term framework agreements with Battelle Energy Alliance LLC, the United States Department of Energy’s operating contractor for Idaho National Laboratory, the United States' lead nuclear energy research and development laboratory. DOE’s Gateway for Accelerated Innovation in Nuclear 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.
FACT-MASTER
2 weeks ago
LTBR: Lightbridge Announces Participation in Upcoming Industry Events
https://finance.yahoo.com/news/lightbridge-announces-participation-upcoming-industry-120000787.html
LTBR
+23.95%
RESTON, Va., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Lightbridge Corporation (“Lightbridge”) (Nasdaq: LTBR), an advanced nuclear fuel technology company, today announced its participation in several upcoming key industry panels and provided an update on recent events.
Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, "We are at an exciting point in the nuclear industry, as recent investments from tech giants and surging interest in clean, reliable energy continue to shape the future of power generation. At Lightbridge, we’re proud to be at the forefront of these developments, contributing to the advancement of nuclear fuel technology that will play a critical role in powering tomorrow's data centers and meeting global energy demands. I look forward to sharing insights at these key industry events in the coming weeks and continuing to showcase how Lightbridge Fuel™ can drive innovation in the nuclear sector.”
Upcoming Events:
October 29, 2024 – Mr. Grae will participate in an American Nuclear Society (ANS) State of Nuclear webinar at 3:00 PM ET, discussing the latest trends in nuclear energy. A link to the webinar will be provided closer to the event date.
October 30, 2024 – Mr. Grae will speak on a panel at 12:00 PM in Washington, DC, hosted by the Global America Business Institute. The panel will focus on nuclear energy at COP29, exploring the role of nuclear in international climate initiatives.
November 5-6, 2024 – Lightbridge will participate in the World Economic Forum Advanced Energy Solutions CEO Meeting in Geneva, Switzerland, before Mr. Grae heads to COP29 in Baku, Azerbaijan. The meeting will discuss advanced energy solutions and will be a closed-door event with no public access.
November 12-15, 2024 – Mr. Grae will attend COP29 in Baku, Azerbaijan, as part of Week 1 of the climate summit, where he will engage with global leaders on the role of nuclear energy in addressing climate challenges. He will have a Blue Zone pass provided by the American Nuclear Society to access the diplomatic area where negotiations among the parties will take place.
November 18, 2024 – Mr. Grae will speak at the ANS Winter Meeting in Orlando, Florida, as part of the State of Nuclear panel at 1:00 PM ET. The panel will cover the impact of COP29 on the nuclear industry, with Mr. Grae sharing insights from his participation in the COP29 climate summit. https://www.ans.org/meetings/wc2024/session/view-2907/
Recent Events and Media Coverage:
On October 21, 2024, Mr. Grae was featured in a live interview on BNN Bloomberg’s “The Close”, hosted by Andrew Bell. The interview covered the growing demand for nuclear energy from major tech companies, seeking clean, 24/7 power sources to support their AI facilities and data centers, which has driven a surge in nuclear energy-related stocks. The full interview can be viewed on Lightbridge’s official YouTube channel at .
Lightbridge was mentioned in an article in the Financial Times on October 20, 2024, titled “Nuclear Energy Stocks Hit Record Highs on Surging Demand from AI,” highlighting the growing momentum behind nuclear energy, particularly with the surge in demand from tech giants like Amazon and Google, which have made significant investments in small modular reactors. https://www.ft.com/content/33eeadbe-edf4-40b5-b973-e76c570d0681
On October 18, 2024, Mr. Grae was featured in a live interview from the floor of the New York Stock Exchange on Schwab Network’s “Trading 360”, hosted by Diane King Hall. The interview covered important developments in the nuclear industry, including recent nuclear investments by tech giants such as Microsoft, Amazon, and Google. Discussions focused on how the growing demand for clean, reliable energy to power data centers positions nuclear power as a critical component of the energy mix. Mr. Grae also discussed the surge in nuclear stock prices, which have reached record highs due to increased investment from the tech sector, and how these trends drive the development of advanced nuclear technologies, such as Lightbridge Fuel™. The full interview can be viewed on Lightbridge’s official YouTube channel at .
Additionally, Lightbridge was mentioned in a Barron’s article on October 18, 2024, titled “Nuclear Energy Is Making a Comeback. A New Batch of Stocks to Play the Trend,” highlighting the resurgence of nuclear energy investments and identifying Lightbridge as a key player in the nuclear fuel development space. https://www.barrons.com/articles/nuclear-power-energy-stocks-db8ffb2f?mod=Searchresults
On October 15, 2024, Mr. Grae moderated the “Super Panel” at the inaugural World Nuclear Forum at Tennessee Tech University. This premier annual event brought together global leaders, innovators, and experts to promote excellence in nuclear energy through collaboration and shared knowledge. https://www.tntech.edu/research/world-nuclear-forum.php
About Lightbridge Corporation
Lightbridge 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 entered into two long-term framework agreements with Battelle Energy Alliance LLC, the United States Department of Energy’s operating contractor for Idaho National Laboratory, the United States' lead nuclear energy research and development laboratory. DOE’s Gateway for Accelerated Innovation in Nuclear 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.
FACT-MASTER
2 weeks ago
LTBR: From the 10Q - 08/01/2024
https://www.nasdaq.com/market-activity/stocks/ltbr/sec-filings
Project Task Statements - INL Project
On March 26, 2024, the Company and BEA entered into Modification No. 2 (Modification No. 2) to the project task statement (PTS) under the Strategic
Partnership Project Agreement (SPPA), dated December 9, 2022, as amended on May 23, 2023, by and between the Company and BEA. Pursuant to the
terms of Modification No. 2, the potential amounts payable by the Company to reimburse BEA for its expenses and employee time were increased by
approximately $0.6 million, bringing the total estimated cost for the work to be performed under the “umbrella” SPPA to $1.7 million.
After Modification No. 2, total cash payments from the Company to BEA under both Agreements were estimated at approximately $4.3 million (excluding
project contingencies) on a cost reimbursable basis over the performance periods under the initial releases.
As of June 30, 2024, the Company had approximately $2.8 million in outstanding PTSs to BEA relating to the R&D work being conducted under the SPPA
and “umbrella” Cooperative Research and Development Agreement (CRADA) at INL. Performance of work under these agreements may be terminated at
any time by either party, without any liability, after the effective date of termination, upon giving a thirty-day written notice under the SPPA and a sixty-day
written notice under the CRADA, to the other party. In the event of termination, the Company shall be responsible for BEA’s costs (including the closeout
costs), through the effective date of termination, but in no event shall the Company’s cost responsibility exceed the total estimated cost stated in each PTS
and any subsequent modification to the PTS.
Romania Feasibility Study of Lightbridge Fuel™ for use in CANDU reactors
On October 16, 2023, the Company engaged Institutul de Cercetari Nucleare Pite?ti, a subsidiary of Regia Autonoma Tehnologii pentru Energia Nucleara
(RATEN ICN) in Romania to perform an engineering study to assess the compatibility and suitability of Lightbridge Fuel™ for use in CANDU reactors.
On July 2, 2024, the Company and RATEN ICN agreed to a change order modifying the remaining scope, schedule, and total fee for the engineering study.
The revised total fee is now $0.2 million. As of June 30, 2024, the Company had approximately $0.1 million in remaining outstanding project
commitments to RATEN ICN, payable upon the acceptance of the final engineering study report by the Company.
FEED Study with Centrus Energy for a Lightbridge Pilot Fuel Fabrication Facility
On December 5, 2023, the Company entered into an agreement with Centrus Energy Corp. (Centrus Energy) to conduct a front-end engineering and design
(FEED) study to construct a Lightbridge Pilot Fuel Fabrication Facility (LPFFF) to manufacture Lightbridge Fuel™ using high-assay low-enriched
uranium (HALEU) at the American Centrifuge Plant in Piketon. In the second quarter of 2024, Centrus completed Phase 1 of the FEED Study and issued a
report.
On June 27, 2024, the Company and Centrus Energy agreed to a Change Order modifying the remaining scope, schedule, and total fee for the FEED study.
The revised total fee is now $0.3 million with $0.1 million as the remaining amount due to Centrus Energy, upon the acceptance of the final FEED study
report by the Company.
abew4me
1 month ago
Lightbridge Corporation (LTBR) Q2 2024 Earnings Call Transcript
Matthew Abenante
Thank you, Marvin, and thanks to all of you for joining us today. The company's earnings press release was distributed yesterday and can be viewed on the Investor Relations page of the Lightbridge website at www.ltbridge.com. Joining us on the call today is Seth Grae, Chief Executive Officer; along with Andrey Mushakov, Executive Vice President for Nuclear Operations; Scott Holcombe, Vice President of Engineering; and Larry Goldman, Chief Financial Officer.
I would like to remind our listeners that any statements on this call that are not historical facts are forward-looking statements. Today's presentation includes forward-looking statements about the company's competitive position and product and service offerings. During today's call, words such as expect, anticipate, believe and intend will be used in our discussion of goals or events in the future. This presentation is based on current expectations and involve certain risks and uncertainties that may cause actual results to differ significantly from such estimates.
These and other risks are set forth in more detail 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 a result of new developments or otherwise.
And with that, I would like to turn the call over to our first speaker, Seth Grae, Chief Executive Officer of Lightbridge. Hello, Seth.
Seth Grae
Hello, Matt, and thank you all for joining us to discuss Lightbridge's Second Quarter 2024 results. Lightbridge has continued to make progress on our fuel development program, and we will get into these updates shortly.
I would like to begin today with an overview of what we are building at Lightbridge. There's undeniable excitement around nuclear energy right now. At COP28, we saw an international commitment to triple nuclear capacity globally by 2050. Here in the U.S., the ADVANCE Act, which was signed into law this month, has the potential to accelerate deployment of advanced nuclear technology. This momentum around the nuclear industry is critical as we confront the challenges of climate change, energy security and producing enough electric power.
Lightbridge Fuel is truly unique. It doesn't consist of pellets in a tube. It's a complex high-tech metallic rod with multiple zones engineered for performance. We expect that the center line of our fuel rods will be about 1,000 degrees C cooler than traditional fuel rods, deliver longer fuel cycles, power uprates and higher burn up, which means more energy from the fuel source. Our fuel development spans several sites across 2 continents, including Idaho National Laboratory, the nation's leading nuclear energy research and development laboratory. It is also DOE's lead nuclear fuel testing laboratory.
Earlier this year, we celebrated a landmark achievement at INL, where we successfully demonstrated certain key aspects of the sophisticated extrusion process for Lightbridge Fuel. A video of this extrusion is on our website. We are also collaborating on 2 Department of Energy, Nuclear Energy University program studies at MIT and Texas A&M University, along with NuScale power to better understand the performance of Lightbridge Fuel in a NuScale small modular reactor. We are also working with RATEN ICN in Romania, on a comprehensive engineering study to assess Lightbridge Fuel for use in CANDU reactors. These studies can potentially expand the applications of our fuel technology paving the way for broader adoption of Lightbridge Fuel.
Our goals are ambitious to develop nuclear fuel that significantly improves economics, enhances nonproliferation and the ability to quickly adjust power output by load following to complement renewables. Many companies are developing new reactor designs, but Lightbridge is fundamentally rethinking nuclear fuel for the vast majority of reactors operating today and water-cooled reactors planned for the future.
Now I'll turn the call over to Andrey Mushakov, Executive VP for Nuclear Operations, to review our fuel development activities. Andrey?
Andrey Mushakov
Thank you, Seth. As Seth mentioned, Lightbridge achieved a critical milestone in our fuel development efforts earlier this year. Idaho National Laboratory extruded an unclad cylindrical rod sample of Lightbridge Fuel material consisting of an alloy of depleted uranium and zirconium. This work was performed under Strategic Partnership Project and Cooperative Research and Development agreements between Lightbridge and Battelle Energy Alliance LLC, the U.S. Department of Energy's operating contractor for Idaho National Laboratory. We anticipate the initial phase of work under the 2 agreements that has been released will culminate in casting and extrusion of unclad fuel material samples using enriched uranium that will subsequently be inserted for irradiation testing in the Advanced Test Reactor at Idaho National Laboratory.
Experimental data obtained during subsequent post-irradiation examination work to be released via future project test statement under our existing agreement with Idaho National Laboratory will be vital for our model development and validation efforts. In addition to our ongoing project at Idaho National Laboratory, we are working with RATEN ICN, an engineering study to assess the compatibility and suitability of Lightbridge Fuel for using CANDU reactors. We expect this initial engineering study to be completed later this year.
Now I'll ask Scott Holcombe, our Vice President of Engineering, to give us an update on other ongoing projects and initiatives. Scott?
Scott Holcombe
Thank you, Andrey. First, with ongoing progress of our fuel development work, we've expanded and strengthened our fuel development team with hiring of additional R&D personnel with expertise in computer modeling and simulation, experiment design and execution and fuel qualification and regulatory licensing activities. Their additions aim to bolster Lightbridge's capabilities in Nutronics, thermal hydraulics, fuel performance and transient analysis, all critical components to support fuel qualification, regulatory licensing and commercial deployment of Lightbridge Fuel.
The newly appointed R&D staff will support Lightbridge's ongoing collaborative projects, including our SPP and CRADA collaboration with Idaho National Laboratory in the United States, our engineering study with RATEN ICN in Romania, and 2 important projects under the Nuclear Energy University Programs with the Massachusetts Institute of Technology and Texas A&M University. These experts will lead the development of Lightbridge specific codes and methods, utilizing industry standard modeling tools to simulate Lightbridge Fuel across various types of water-cooled reactors.
As we project further into the future, our road map towards full commercial deployment encompasses a series of intricate and scientifically rigorous steps. This includes the extensive irradiation of nuclear material samples and prototype fuel rods within test reactors followed by thorough post-irradiation examinations to validate material characteristics and performance metrics.
Our comprehensive testing regimen will also involve advanced thermal hydraulic experiments and additional out-of-reactor tests, designed to rigorously evaluate our fuel safety and functionality. Advanced computational modeling and simulation will support the qualification process, ensuring that our fuel meet stringent industry standards. The combination of these efforts will involve the design of lead test rods and ultimately lead test assemblies and subsequent collaborations with commercial reactors and potential fuel vendor partners through the deployment of lead test rods and assemblies. Once successful operation of lead test assemblies with Lightbridge Fuel has been demonstrated in commercial reactors, we would seek regulatory approval for batch reloads of Lightbridge Fuel in those host reactors.
With that, I'll turn the call back over to Seth.
Seth Grae
Thank you, Scott. The recent passage of the ADVANCE Act was a landmark moment for the entire advanced nuclear industry. This legislation is a game changer for several reasons. The Act aims to streamline the nuclear regulatory commission review process, specifically for advanced nuclear fuels, including high-assay, low-enriched uranium fuels. We believe this is a critical step towards bringing these innovative technologies to market. It's a clear signal of government support for this sector, which we believe bodes well for future investment into nuclear power. We see evidence of this today with a growing list of nuclear publicly traded companies.
The need for clean and reliable energy has never been greater. The growth of data centers with AI, the rise of energy-intensive processes like crypto mining, and the growing electrification of transportation are all driving an unprecedented surge in demand for electric power. There's also a growing global consensus that nuclear energy is essential to meeting the Paris Agreement's goals cost effectively and equitably.
The pledge last December at COP28 to triple nuclear capacity by 2050 is a testament to this. There is a clear shift towards greater demand for nuclear power across the entire supply chain. This is evident in the extension of licenses for existing plants, new reactor construction and the restarting of previously shutdown reactors. Uranium prices, both for the commodity itself and related ETFs are nearing record highs. This potential nuclear expansion could significantly increase the potential market for Lightbridge Fuel. We expect growing demand for more efficient, safer and economically viable nuclear fuel making Lightbridge an attractive option for both existing reactors and future power plants.
Our focus remains on advancing our fuel development, strengthening collaborations with industry, government and academic partners and achieving our key milestones. Our ongoing fuel development and strong intellectual property portfolio position us well in an industry poised for global expansion.
I'll now turn the call over to Larry Goldman, Chief Financial Officer, to summarize the company's financial results. Larry?
Larry Goldman
Thank you, Seth, and good afternoon, everyone. For further information regarding our second quarter 2024 financial results and disclosures, please refer to our earnings release that we filed post-market close yesterday as well as our quarterly report on Form 10-Q that will be filed with the Securities and Exchange Commission later today.
The company's working capital position was $26.4 million, at June 30, 2024, versus $28.3 million at December 31, 2023. Total assets were $28 million and total liabilities were $0.9 million at June 30, 2024. Today, we have ample working capital and financial flexibility to support our near-term fuel development expenditures. This is very important to Lightbridge and our stockholders as well as our external stakeholders such as the federal government to ensure that we have sustained working capital as well as the ability to access capital in the future to conduct our R&D activity.
Total cash and cash equivalents was $27.1 million as compared to $26.8 million at December 31, 2023, a decrease of $1.5 million for the 6 months ended June 30, 2024. Total cash used in operating activities for the 6 months ended June 30, 2024, was $3.7 million, an increase of $0.7 million compared to $3 million for the same period ended June 30, 2023. This increase was primarily due to increased spending on R&D and general and administrative expenses and changes in working capital.
Total cash provided by financing activities for the 6 months ended June 30, 2024, was $2.2 million, a decrease of $0.1 million compared to $2.3 million for the same period ended June 30, 2023. This decrease was due to a decrease in the net proceeds from the issuance of common stock by our at-the-market or ATM facility in the first half of 2024.
In support of our long-term business and future financing requirements with respect to our fuel development, we expect to continue to see government funding in the future, along with new strategic alliances that may contain cost-sharing contributions and additional funding from others to help fund our future R&D milestones, leading to the commercialization of Lightbridge Fuel.
Now to the P&L for the second quarter of 2024. Net loss was $2.4 million for the second quarter ended June 30, 2024, compared to $1.7 million for the second quarter ended June 30, 2023. Total R&D expenses amounted to $0.9 million for the second quarter compared to $0.4 million for the 3 months ended June 30, 2023, an increase of $0.5 million. This increase primarily consisted of an increase in the INL project labor cost and outside R&D expenses of $0.2 million and an increase in allocated employee compensation and employee benefits to R&D of $0.3 million. We currently project investing approximately $8.3 million in R&D spend over the next 12 to 15 months.
Total G&A expenses amounted to $1.8 million for the second quarter compared to $1.6 million for the 3 months ended June 30, 2023. There was an increase in professional fees of $0.1 million, an increase in employee compensation and stock-based compensation of $0.1 million. Total other income was $0.3 million for the second quarter, unchanged compared to the 3 months ended June 30, 2023. The company's interest income earned from the purchase of treasury bills and from our bank savings account for the 3 months ended June 30, 2024, was consistent to the 3 months ended June 30, 2023.
Back to you, Seth.
Seth Grae
Thank you, Larry. And with that, we will go to the question-and-answer session. Thank you to everyone who has submitted questions. Matt, please go ahead with the questions.
Question-and-Answer Session
Q - Matthew Abenante
Thank you, Seth. We received the following questions from Tim Moore, Senior Analyst and Managing Director from Clear Street. The first question, can you provide an update on upcoming milestones over the next 12 to 18 months, such as fuel material samples testing in the reactor?
Seth Grae
As discussed in our most recent 10-Q filing, we anticipate fuel development milestones for Lightbridge Fuel over the next couple of years will consist of the following: first, continue to execute strategic partnering project, cooperative research and development agreement work at Idaho National Laboratory, leading to casting and extrusion of unclad fuel material samples using enriched uranium and their subsequent insertion for irradiation testing in the Advanced Test Reactor. Second, complete a feasibility study for the use of our fuel and CANDU heavy-water reactors. And third, complete a front-end engineering and design study for Lightbridge Pilot Fuel Fabrication Facility with Centrus Energy. Matt, next question, please.
Matthew Abenante
And this is our last question. Regarding the recent ADVANCE Act legislation, how much time could that save on licensing permits, red tape being held up?
Seth Grae
We were very pleased to see the ADVANCE Act passed with such overwhelming support in both the House and the Senate. We're particularly encouraged by the expedited NRC licensing process for advanced nuclear fuel technologies, the Act directs the NRC to assess its preparedness to review and qualify the use of high-assay, low-enriched uranium fuels. The NRC has successfully regulated positive changes in the nuclear industry, including license extensions for many U.S. nuclear power plants and increases in capacity factors of the plants. We believe the NRC can streamline the review process and the ADVANCE Act shows that Congress prioritizes faster licensing.
And with that, I'll just say thank you, everybody, for participating on today's call. We look forward to providing additional updates. In the meantime, we can be reached at ir@ltbridge.com. Stay safe and well. Goodbye.
https://seekingalpha.com/article/4709484-lightbridge-corporation-ltbr-q2-2024-earnings-call-transcript
abew4me
1 month ago
Study to evaluate Lightbridge Fuel use in Candu reactors
Tuesday, 17 October 2023
Advanced nuclear fuel technology company Lightbridge Corporation is collaborating with Romania's Institutul de Cercetari Nucleare Pite?ti to perform an engineering study to assess the compatibility and suitability of its Lightbridge Fuel for use in Candu pressurised heavy water reactors.
[Click the link below to see the actual picture here]
Lightbridge said the 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, it added.
The company says its proprietary Lightbridge Fuel technology - which features metallic fuel rods with a helical multi-lobe design - can significantly enhance reactor safety, economics, and proliferation resistance for existing light water reactors and PHWRs. It is also developing Lightbridge Fuel for small modular reactors "to bring the same benefits plus load-following with renewables on a zero-carbon electric grid".
"Today's announcement is an important step for Lightbridge," Seth Grae, President and CEO of Lightbridge said. "This engineering study will help us assess the viability of using Lightbridge Fuel in a Candu reactor, which will help guide our commercialisation pathway in determining the types of reactors that we prioritise.
"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 commercialisation timelines."
"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," added Daniela Diaconu, Scientific Deputy Director of ICN Pite?ti, a subsidiary of Regia Autonoma Tehnologii pentru Energia Nucleara (RATEN). "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."
RATEN 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.
Cernavoda is the only nuclear power plant in Romania and consists of two 650 MWe PHWRs. Unit 1 went into commercial operation in 1996 and unit 2 in 2007. Most of the work on units 3 and 4 - like units 1 and 2, Candu-6 reactors - was done in the 1980s prior to the fall of the government of Nicolae Ceausescu in 1989.
Lightbridge's metal nuclear fuel technology has been developed with support from the US Department of Energy (DOE) through its Gateway for Accelerated Innovation in Nuclear (GAIN) programme. This programme provides the nuclear community with access to technical, regulatory, and financial support to help bring innovative technologies to commercialisation while ensuring the continued safe, reliable, and economic operation of the existing US nuclear fleet. It does this by awarding vouchers which give advanced nuclear technology innovators access to the research capabilities and expertise available across the DOE's national laboratory complex.
Lightbridge has twice been awarded GAIN vouchers to support the development of Lightbridge Fuel, and has a long-term strategic partnership with Idaho National Laboratory (INL).
In December 2022, Lightbridge signed two "umbrella" agreements - a Strategic Partnership Project Agreement and a Cooperative Research and Development Agreement - with Battelle Energy Alliance, LLC, DOE's operating contractor for INL, with an initial duration of seven years.
The initial phase of work under the two agreements will culminate in irradiation testing in INL's Advanced Test Reactor (ATR) of fuel samples using enriched uranium supplied by DOE, providing performance data for Lightbridge's delta-phase uranium-zirconium alloy. This data will support fuel performance modelling and regulatory licensing efforts for the commercial deployment of Lightbridge Fuel, the company said.
Subsequent phases of work under the two umbrella agreements will include post-irradiation examination of the irradiated fuel samples, loop radiation testing in the ATR, and post-irradiation examination of one or more uranium-zirconium fuel rodlets, as well as transient experiments in INL's Transient Reactor Test Facility.
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.
https://www.world-nuclear-news.org/Articles/Study-to-evaluate-Lightbridge-Fuel-use-in-Candu-re
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