Just to remember ! Under the terms of the collaborative research agreements, IBC has an option to enter into an exclusive royalty-bearing license for commercial application to the intellectual property relating to the development of an advanced BeO nuclear fuel (the "IP") with both Purdue and Texas A&M.
Fuel Fabricator Partnership
In October 2013, we signed a memorandum of understanding with GNF-A and CTP to explore opportunities to collaborate on nuclear fuel research. The parties plan to form a joint collaborative effort to develop and analyze the benefits of increased cooperation and interaction regarding the development and commercialization of the advanced beryllium oxide-silicon carbide fuel technology. Based in Wilmington, NC, GNF-A is a joint venture of General Electric, Hitachi Ltd. and Toshiba Corporation and is a leading fabricator and supplier of boiling water reactors fuel and services. CTP, based in Rockville, MD is developing advanced silicon carbide nuclear fuel cladding which will improve both industry economics and safety.
The October 2013 memorandum of understanding follows from our February 2011 memorandum of understanding with GNF-A to improve the efficiency of nuclear fuel by adding beryllium oxide.
Since we do not have fuel fabrication experience, it will be necessary for us to partner with a fuel fabricator in order to exploit the technology in development.