RESTON, Va., May 30, 2024 (GLOBE NEWSWIRE) -- Lightbridge Corporation (“Lightbridge”) (Nasdaq: LTBR), an advanced nuclear fuel technology company, today announced that its Chairman and CEO, Seth Grae, attended the White House Summit on Domestic Nuclear Deployment (the “Summit”), hosted by the Biden-Harris Administration. The Summit, held on May 29, 2024, focused on new initiatives to strengthen the domestic nuclear industry and advance America's clean energy future.
The White House Summit underscored the Administration's commitment to bolstering the nuclear sector as a cornerstone of the nation’s strategy to achieve net-zero emissions and enhance energy security. Key announcements included measures to support nuclear innovation, ensure the longevity of existing reactors, and promote the development of advanced nuclear technologies.
The White House Summit brought together leaders from the nuclear industry, government, and academia to discuss the role of nuclear energy in the United States' energy policy. Mr. Grae’s participation highlights Lightbridge’s active engagement in national discussions aimed at promoting nuclear energy as a critical component of a sustainable and secure energy landscape. The collaborative efforts and new policies announced are expected to drive significant advancements in nuclear technology, fostering a robust and resilient energy infrastructure.
Seth Grae, Chairman & Chief Executive Officer of Lightbridge Corporation, commented, “I was honored to represent Lightbridge at such a pivotal event for the domestic nuclear industry. The Administration’s initiatives are a significant step forward in revitalizing the domestic nuclear sector and ensuring that nuclear energy remains a vital part of our clean energy future. Lightbridge is committed to playing a key role in the transition to a cleaner energy future. We believe that Lightbridge Fuel™, which is designed to improve the economics and safety of existing and next generation nuclear reactors, will help achieve these shared goals.”
About Lightbridge Corporation
Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential for delivering abundant, zero-emission, clean energy and providing energy security to the world. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and pressurized heavy water reactors, significantly enhancing reactor safety, economics, and proliferation resistance. The Company is also developing Lightbridge Fuel for new small modular reactors (SMRs) to bring the same benefits plus load-following with renewables on a zero-carbon electric grid.
Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance LLC, the United States Department of Energy’s operating contractor for Idaho National Laboratory, the United States' lead nuclear energy research and development laboratory. DOE’s Gateway for Accelerated Innovation in Nuclear program has twice awarded Lightbridge to support the development of Lightbridge Fuel over the past several years. Lightbridge is participating in two university-led studies through the DOE Nuclear Energy University Program at Massachusetts Institute of Technology and Texas A&M University. An extensive worldwide patent portfolio backs Lightbridge’s innovative fuel technology. 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. 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: Lightbridge’s ability to commercialize its nuclear fuel technology; the degree of market adoption of Lightbridge’s product and service offerings; Lightbridge’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; Lightbridge’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 Lightbridge’s fuel development timeline; the increased costs associated with metallization of Lightbridge’s nuclear fuel; public perception of nuclear energy generally; changes in the political environment; risks associated with war in Europe; changes in the laws, rules and regulations governing Lightbridge’s business; development and utilization of, and challenges to, Lightbridge’s 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 (the “SEC”). 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 31, 2023, and in its other filings with the SEC, 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 (347) 947-2093
ir@ltbridge.com
