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Lightbridge Awarded US Department of Energy GAIN Voucher to Support Irradiation Testing of Lightbridge Fuel™
Lightbridge Achieves First Direct DOE Award RESTON, Va., Dec. 20, 2019 (GLOBE NEWSWIRE) -- Lightbridge Corporation (NASDAQ: LTBR), a nuclear fuel developer,
About this update from Lightbridge Corporation
[{"type":"text","content":"Lightbridge Achieves First Direct DOE Award\nRESTON, Va., Dec. 20, 2019 (GLOBE NEWSWIRE) -- Lightbridge Corporation (NASDAQ: LTBR), a nuclear fuel developer, today announced that it was awarded a voucher from the U.S. Department of Energy’s (DOE) Gateway for Accelerated Innovation in Nuclear (GAIN) program to support development of Lightbridge Fuel in collaboration with Idaho National Laboratory (INL). The scope of the project includes experiment design for irradiation of Lightbridge metallic fuel material samples in the Advanced Test Reactor (ATR) at INL. The project is anticipated to commence in the first half of 2020. The total project value is approximately $846,000, with three-quarters of this amount funded by DOE for the scope performed by INL.\n Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, “This nuclear energy voucher from DOE GAIN is a key step in our pathway to perform critical material irradiation testing in a US test reactor. We look forward to working closely with INL, which brings unique capabilities and expertise to perform work essential to our fuel qualification. I’m also happy to highlight that this is the very first direct award to Lightbridge from the DOE, which demonstrates its commitment to funding nuclear energy innovation from American companies.” Additional information about the GAIN voucher is available at: https://gain.inl.gov/SiteAssets/2020VoucherAbstracts-1stRound/Announcements/GAIN2020_1stRoundNEVoucherAnnouncement.pdf About Lightbridge Corporation Lightbridge (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. Lightbridge invented, patented and has independently validated the technology, including successful demonstration of the fuel in a research reactor with plans to demonstrate the fuel under commercial reactor conditions. The Company has assembled a world class development team including veterans of leading global fuel manufacturers. Four large electric utilities that generate about half the nuclear power in the US already advise Lightbridge on fuel development and deployment. The Com...