Lightbridge Receives Notice of Intent to Grant a Key Patent from the European Patent Office for its Innovative Fuel Design
Fri October 19, 2018 8:00 AM|GlobeNewswire|About: LTBR
RESTON, Va., Oct. 19, 2018 (GLOBE NEWSWIRE) -- Lightbridge Corporation (NASDAQ: LTBR), a nuclear fuel technology company, today announced it received a Notice of Intent to Grant from the European Patent Office (EPO) for its patent application covering the Company’s four-lobe metallic fuel rod design and related manufacturing method comprising co-extrusion of single billet assembly through a die to form a four-lobe helically twisted metallic fuel rod.
Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, “This Notice of Intent to Grant our patent application by the European Patent Office further expands and strengthens our intellectual property protection in Europe, which has the world’s largest fleet of operating light water reactors. This award follows similar patents and the recent Notices of Allowance we received in the U.S. Intellectual property is central to our overall strategy as we strengthen our partnerships across the industry and around the world.”
About Lightbridge Corporation
Lightbridge (LTBG) (NASDAQ: LTBR) is a nuclear fuel technology development company based in Reston, Virginia, USA. The Company develops proprietary next generation nuclear fuel technologies for current and future reactors, which significantly enhances the economics and safety of nuclear power, operating about 1000° C cooler than standard fuel. In January 2018, Lightbridge and Framatome, Inc. formed a 50-50 joint venture, Enfission, LLC, to develop, license, manufacture, and sell nuclear fuel assemblies based on Lightbridge-designed metallic fuel technology and other advanced nuclear fuel intellectual property. Enfission has the exclusive rights to this technology and is responsible for the development of manufacturing processes and fuel assembly designs for pressurized water reactors (PWRs), boiling water reactors (BWRs), water-cooled small modular reactors, and water-cooled research reactors developed around this intellectual property. PWRs and BWRs constitute the most widely used reactor types in the world. Four large electric utilities that generate about half the nuclear power in the US already advise Lightbridge on fuel development and deployment. In addition to distributions from Enfission based on the parties’ ownership interest in the joint venture, Lightbridge anticipates receiving future licensing revenues in connection with sales by Enfission of nuclear fuel incorporating its intellectual property. Lightbridge also provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. For more information please visit: www.ltbridge.com.
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