Lightbridge Receives Notice of Acceptance for Key Patent in Australia
Lightbridge Corporation (Nasdaq: LTBR) announced that it received a Notice of Acceptance for a key divisional patent from the Australia Patent Office for its innovative metallic nuclear fuel assembly design. This patent, based on a 2015 application, aims to enhance safety and economics in nuclear power generation. CEO Seth Grae highlighted Australia as a strategic market due to its uranium production and interest in nuclear energy. The company has also secured similar patents in Japan and Korea and is pursuing additional patents globally, including in the U.S. and China.
- Received a key divisional patent from the Australia Patent Office for innovative metallic nuclear fuel assembly.
- Enhances safety and economics for existing and next-generation nuclear reactors.
- Strategic focus on Australia as a market for nuclear energy due to its uranium production.
- None.
RESTON, Va., Oct. 12, 2021 (GLOBE NEWSWIRE) -- Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel technology company, today announced that it received a Notice of Acceptance for a key divisional patent from the Australia Patent Office related to Lightbridge’s innovative metallic nuclear fuel assembly design. The newly allowed patent is based on the 2015 Patent Cooperation Treaty (PCT) patent application and covers a fuel assembly having a mixed grid pattern of fuel rods.
Lightbridge Fuel™ has been designed to enhance the safety and economics of nuclear power for both existing and next-generation nuclear reactors.
Seth Grae, President and CEO of Lightbridge commented, “We continue to expand our intellectual property portfolio around the world. Australia represents a potential strategic market for Lightbridge, particularly as one the world’s leading uranium producers and increasingly considering pursuing nuclear power generation. We recently received similar patents in Japan and Korea for our metallic fuel assembly design with metallic fuel rods arranged in a mixed grid pattern. These patents are an important addition to our rapidly expanding global patent portfolio.”
Lightbridge has patents pending in various countries around the world, including the United States, South Korea, Canada, Japan, Eurasia, and Australia, as well as additional patents pending in Europe and China.
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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