Lightbridge Comments on Recent Nuclear Industry News
November 09 2023 - 7:00AM
Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel
technology company, today provided comments on recent nuclear
industry news.
Seth Grae, President & Chief Executive
Officer of Lightbridge Corporation, commented, “Recent developments
have cast a shadow over companies that are developing new reactors.
At Lightbridge, we are developing fuel for the over 400
currently-operating large reactors, plus new ones that will be
built later, including small reactors that are in development.
Early on, we made a strategic decision not to develop a reactor,
partly because developing advanced fuel requires significantly less
capital.”
“When we began developing Lightbridge Fuel™, we
consulted extensively with leading U.S. nuclear utilities, aiming
to disrupt the status quo with the most significant technological
advancement in nuclear fuel design. Having listened carefully to
future customers, we are developing our fuel to upgrade existing
reactors with unparalleled economic, safety, and nonproliferation
advantages. We recently announced an engineering study in Romania
to assess the feasibility of Lightbridge Fuel in the
currently-operating CANDU reactors. Existing pressurized water
reactors can achieve 10% power uprates and extend their fuel cycles
from 18 to 24 months, with our fuel providing the lowest levelized
cost for adding incremental clean power to the grid.”
“At Lightbridge, we are dedicated to fostering a
culture of transparency and proactive engagement with our
stakeholders, providing updates on our progress. To encapsulate our
latest milestones and forward momentum, we have released a
newsletter detailing our current initiatives,” concluded Mr.
Grae.
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.
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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 MIT and Texas
A&M studies relating thereto and the outcome of the Romania
study with respect to CANDU reactors. 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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