Lightbridge Corporation Provides Nuclear Fuel Development Update at Jefferies 11th Global Clean Technology Conference
MCLEAN, Va., Feb. 23, 2011 /PRNewswire/ — Lightbridge Corporation (Nasdaq: LTBR), the leading innovator of advanced nuclear fuel designs and provider of nuclear energy consulting services to commercial and governmental organizations, today provided an update on the Company’s nuclear fuel development and commercialization efforts at the Jefferies 11th Global Clean Technology Conference.
The presentation, led by Seth Grae, Lightbridge President and CEO, and James Malone, Chief Nuclear Development Officer, provided a detailed overview of the market drivers of the Company’s all-metal nuclear fuel development, greater insight of the value proposition of Lightbridge’s metallic fuel technology, and additional depth and context around key future milestones expected to be completed in the 2011-2013 timeframe.
The underlying premise of the Lightbridge fuel technology value proposition is to enable nuclear power plants to produce more power per dollar invested and to improve their financial operating margins. The Company’s fuel technology will enable the existing reactor component supply chain to deliver more power from the same capacity. The fuel also has back-end benefits, such as reduced used fuel volume, shorter cooling time before transferring used fuel to dry storage and enhanced proliferation resistance.
Key technical milestones anticipated to be completed in 2011-2013 include the following:
- Fabrication of short-length fuel samples for capsule and loop irradiation
- Capsule irradiation of samples in the Advanced Test Reactor at Idaho National Laboratory
- Begin loop irradiation tests in prototypic pressurized water reactor (PWR) operating conditions
- Fabrication of full-length fuel rods
James Malone, who recently joined the Company to head nuclear development commented, “We are currently pursuing a research and development strategy aimed at generating sufficient interest and confidence in our fuel technology among major fuel fabricators. Our goal is to enter into a commercial arrangement with one or more of them within the next 2-3 years. We recognize that a successful commercialization strategy is highly dependent upon interest in our nuclear fuel designs from the fuel product users. Interest in our fuel technology from one or more nuclear power plants would make it easier for us to partner with a major fuel fabricator who will offer our design to fuel users. As part of our pull strategy, we are engaging nuclear utilities in discussions about our fuel technologies.”
“It’s important to note, that the key milestones completed to-date create a strong foundation to support further qualification and commercialization of our metallic fuel technology,” said Mr. Grae. “The update today provides some greater context and details of our growth opportunities and illustrates a robust future for Lightbridge. The projected investment returns on fuel technology value, our R&D program focused toward a fuel technology commercial arrangement within the next 2-3 years and our strong patent portfolio facing no known global competition collectively positions Lightbridge in a strong way as we continue to move forward and achieve new milestones.”
A recorded webcast of the presentation is available by visiting the Investor Relations section of the Lightbridge website at http://ltbridge.com/newsevents.
About Lightbridge Corporation
Lightbridge is a U.S. nuclear energy company based in McLean, VA. with operations in Abu Dhabi, Moscow and London. The Company develops proprietary, proliferation resistant, next generation nuclear fuel technologies for current and future nuclear reactor systems. The Company also provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. Lightbridge’s breakthrough fuel technology is establishing new global standards for safe and clean nuclear power and leading the way towards a sustainable energy future. Lightbridge consultants provide integrated strategic advice and expertise across a range of disciplines including regulatory affairs, nuclear reactor procurement and deployment, reactor and fuel technology and international relations. It leverages those broad and integrated capabilities by offering its services to commercial entities and governments with a need to establish or expand nuclear industry capabilities and infrastructure.
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Forward Looking Statement
This press release contains statements that are forward-looking in nature, including statements regarding the Company’s competitive position and product and service offerings. These statements are based on current expectations on the date of this press release and involve a number of risks and uncertainties, which may cause actual results to differ significantly from such estimates. The risks include, but are not limited to, the degree of market adoption of the Company’s product and service offerings; market competition; dependence on strategic partners; and the Company’s ability to manage its business effectively in a rapidly evolving market. Certain of these and other risks are set forth in more detail in “Item 1A. Risk Factors” in Lightbridge’s Annual report on Form 10-K for the fiscal year ended December 31, 2010. Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise.
Contact: Lightbridge Corporation: Ogilvy Public Relations: Gerry Pascale Greg Jawski (571) 730-1213 (212) 880-5353 ir@Ltbridge.com email@example.com
SOURCE Lightbridge Corporation