RESTON, Va., July 05, 2016 (GLOBE NEWSWIRE) -- Lightbridge Corporation (NASDAQ:LTBR), a U.S. nuclear energy company, today announced that it has received a Notice of Allowance for a key patent covering its metallic nuclear fuel rod design from the European Patent Office. The patent is expected to be issued this quarter. Lightbridge will seek patent validation in key countries in the EU region, including France, the UK, Sweden, and other key countries that already have a significant amount of nuclear generating capacity.
Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, “Europe represents a significant market for Lightbridge’s metallic fuel with 101 reactors currently in operation in key EU countries we are targeting, according to the World Nuclear Association’s nuclear reactor database. Moreover, Europe has been a major focus for our fuel development and partnership initiatives. Importantly, the EU depends heavily on nuclear power for more than one-quarter of its electricity needs, and a higher proportion of its base-load power. In fact, nuclear provides over half of all of Europe’s low-carbon electricity. Given the fact our fuel improves the operating economics and enhances the safety of nuclear reactors, we believe our technology will be central to Europe meeting both its baseload energy requirements and climate change goals in the years and decades to come.”
About Lightbridge Corporation
Lightbridge is a nuclear energy company based in Reston, Virginia, USA. The Company develops proprietary next generation nuclear fuel technologies for current and future nuclear reactor systems. Lightbridge's breakthrough fuel technology is establishing new global standards for safe and clean nuclear power and leading the way to a sustainable energy future. The Company also provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. Lightbridge consultants provide integrated strategic advice and expertise across a range of disciplines including regulatory affairs, nuclear reactor procurement and deployment, reactor and fuel technology and international relations. The Company leverages those broad and integrated capabilities by offering its services to commercial entities and governments with a need to establish or expand nuclear industry capabilities and infrastructure.
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Investor Relations Contact: David Waldman/Natalya Rudman Crescendo Communications, LLC Tel. + 1 855-379-9900 Ltbr@crescendo-ir.com