Business
Lightbridge Provides Business Update and Announces Fiscal Year 2019 Earnings Results
Conference Call on Wednesday, March 18, 2020 at 4pm ET RESTON, Va., March 17, 2020 (GLOBE NEWSWIRE) -- Lightbridge Corporation (NASDAQ: LTBR), an advanced
About this update from Lightbridge Corporation
[{"type":"text","content":"Conference Call on Wednesday, March 18, 2020 at 4pm ET\nRESTON, Va., March 17, 2020 (GLOBE NEWSWIRE) -- Lightbridge Corporation (NASDAQ: LTBR), an advanced nuclear fuel technology company, today announced financial results for the fiscal year ended December 31, 2019, as well as the Company's corporate progress and other meaningful developments.\n Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, “We finished 2019 poised to enter a new phase of our company's development, being awarded a voucher from the U.S. Department of Energy’s 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 at INL. The new GAIN voucher helps position Lightbridge well for further research and development activities within the U.S. national laboratory complex, which we intend to help us commercialize Lightbridge Fuel™. While bringing change to the nuclear power industry is difficult, we remain confident in our ability to succeed.” “Lightbridge is advancing its development program, and we expect to achieve important milestones over the next 12-24 months. In the near-term, our R&D activities are focused on the development of a fabrication process for prototype fuel rods with depleted or natural uranium, experiment design and fabrication of material test samples for irradiation in a research reactor, and evaluation of our fuel for use in the CANDU reactor market. “The US government is making historically large levels of funding and use of national laboratory facilities available to the American private sector to develop advanced nuclear technology. In December 2019, Congress voted to approve appropriations for fiscal year 2020 that includes $1.49 billion for nuclear energy programs, an increase of approximately $167 million over 2019. We believe the timing couldn’t be better for Lightbridge to benefit from this historic bipartisan support for nuclear energy from the federal government. “The Lightbridge leadership team is dedicated to creating shareholder value, and we remain focused on our pursuit of full-scale commercialization of Lightbridge Fuel™ as quickly as possible,” conc...