Lightbridge Corporation Expresses Gratitude to Kathleen Kennedy Townsend for Her Service as a Director
Lightbridge Corporation (NASDAQ: LTBR) announced the resignation of Kathleen Kennedy Townsend from its Board of Directors, effective immediately. Townsend served on the board for eight years, including as Audit Committee chair. CEO Seth Grae expressed gratitude for her contributions and noted her new role in the Biden administration at the U.S. Department of Labor. Lightbridge is known for developing advanced nuclear fuel technology, particularly Lightbridge Fuel™, which aims to improve reactor safety and efficiency.
- Lightbridge is recognized for its innovative nuclear fuel technology, which aims to support carbon-free energy applications.
- The company has been awarded funding from the U.S. Department of Energy's Gateway for Accelerated Innovation in Nuclear program.
- None.
RESTON, Va., Aug. 30, 2021 (GLOBE NEWSWIRE) -- Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel technology company, today announced that the Honorable Kathleen Kennedy Townsend, Director at The Rock Creek Group and Lieutenant Governor of Maryland from 1995 to 2003, will step down from the Lightbridge Board of Directors, effective today.
“For the past eight years, Kathleen has been a key member of the Board, including her service as Audit Committee chair. I want to thank Kathleen for her valuable counsel, tremendous contributions, and unwavering support for Lightbridge,” commented Seth Grae, President and CEO of Lightbridge. “On behalf of our Board, we wish Kathleen the very best in her important new endeavor as she joins the Biden administration in the U.S. Department of Labor.”
Ms. Townsend has a long history of accomplishments in the public and private sectors. She was the State of Maryland's first woman Lieutenant Governor. She had responsibility for a multibillion-dollar budget and oversight of major cabinet departments. Before her 1995 election, Ms. Townsend served in the U.S. Department of Justice as Deputy Assistant Attorney General of the United States. She led the planning to put 100,000 police officers into communities and ignited the Police Corps, a program to give college scholarships to young people who pledge to work as police officers for four years after graduating. Ms. Townsend has also been a Managing Director at the Rock Creek Group, a Washington, DC-based investment advisor. Earlier in her career, Ms. Townsend served as the founder and director of the Maryland Student Service Alliance.
Ms. Townsend is an honors graduate of Harvard University and earned her law degree from the University of New Mexico. She has received 12 honorary degrees. A member of the bar in Maryland, Connecticut, and Massachusetts, she is also a certified broker-dealer and author.
About Lightbridge Corporation
Lightbridge (NASDAQ: LTBR) is an advanced nuclear fuel technology development company positioned to enable carbon-free energy applications that will be essential in preventing climate change. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for Small Modular Reactors, as well as existing light-water reactors, which significantly enhances reactor safety, economics, and fuel proliferation resistance. To date, Lightbridge has been awarded twice by the U.S. Department of Energy’s Gateway for Accelerated Innovation in Nuclear program to support development of Lightbridge Fuel™. Lightbridge’s innovative fuel technology is backed by an extensive worldwide patent portfolio. 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 timing and outcome of research and development activities, other steps to commercialize Lightbridge Fuel™ and future governmental support and funding for nuclear energy. 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, including small modular 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 the further spread of COVID-19, including the ultimate impact of COVID-19 on people, economies, and the Company’s ability to access capital markets; 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 31st, 2020 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, IRC
Director of Investor Relations
Tel: +1 (646) 828-8710
ir@ltbridge.com
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