Business
Lightbridge Receives Notice of Allowance for Key Patent in the United States
RESTON, Va., Oct. 29, 2021 (GLOBE NEWSWIRE) -- Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel technology company, today announced that it
About this update from Lightbridge Corporation
[{"type":"text","content":"RESTON, Va., Oct. 29, 2021 (GLOBE NEWSWIRE) -- Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel technology company, today announced that it received a Notice of Allowance for a key divisional patent from the United States Patent Office related to Lightbridge’s innovative metallic nuclear fuel assembly. The newly allowed patent is based on the 2015 Patent Cooperation Treaty (PCT) patent application and broadens the company’s claims directed to a fuel assembly having a mixed grid pattern without specifying that the first grid pattern is rectangular or that the second grid pattern is triangular. The mixed grid arrangement enables Lightbridge’s metallic fuel rods to be retrofitted into an existing fuel assembly envelope of both existing and new-build reactors. Seth Grae, President and CEO of Lightbridge commented: “This Notice of Allowance represents another important milestone for Lightbridge, strengthening our intellectual property portfolio that supports our strategy to commercialize Lightbridge Fuel™ in the United States. As governments recognize the importance of maintaining the existing nuclear fleet and innovating with advanced technologies to meet net-zero carbon targets, our technology could play a central role in this energy transition.” Lightbridge Fuel has been designed to enhance the safety and economics of nuclear power for both existing and next-generation nuclear reactors. Lightbridge has patents pending in various countries around the world, including the United States, South Korea, Canada, Japan, Eurasia, and Australia, as well as additional patents pending in Europe and China. About Lightbridge Corporation Lightbridge (NASDAQ: LTBR) is an advanced nuclear fuel technology development company positioned to enable carbon-free energy applications that will be essential in preventing climate change. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for Small Modular Reactors, as well as existing light-water reactors, which significantly enhances reactor safety, economics, and fuel proliferation resistance. To date, Lightbridge has been awarded twice by the U.S. Department of Energy’s Gateway for Accelerated Innovation in Nuclear program to support development of Lightbridge Fuel™. Lightbridge’s innovative fuel technology is backed by an extensive worldwid...