Lightbridge Achieves Critical Fabrication Development Milestone by Demonstrating the Extrusion Process for Uranium-Zirconium Samples
18 Marzo 2024 - 4:00AM
Lightbridge Corporation (“Lightbridge”) (Nasdaq: LTBR), an advanced
nuclear fuel technology company, today announced it had achieved a
critical milestone in developing its cutting-edge fuel technology
designed to offer improved economics and higher levels of safety
than conventional nuclear fuel. Idaho National Laboratory (INL) has
extruded coupon samples of Lightbridge Fuel™ material consisting of
an alloy of depleted uranium and zirconium. The extrusion process
involves pressing a metallic alloy billet through a die.
A video demonstration of the extrusion
process can be found at:
https://www.ltbridge.com/news-media/media-gallery/video/video/7194/lightbridge-demonstration-of-the-extrusion-process-for
Picture 1: Extrusion Press at INL
(Source: INL)
Picture 2: Extrusion in Progress (Source:
INL)
Picture 3: Uranium-Zirconium Rod
Post-Extrusion (Source: INL)
INL and Lightbridge will work together to
analyze the extruded rod to confirm the extrusion process
parameters prior to producing future fuel samples using high-assay,
low-enriched uranium (HALEU), which Lightbridge will ultimately use
to manufacture its fuel.
Lightbridge’s work is part of its Strategic
Partnership Project and Cooperative Research and Development
agreements with Battelle Energy Alliance LLC, the U.S. Department
of Energy’s (DOE) operating contractor for INL, which aims to
generate irradiation performance data for Lightbridge’s delta-phase
uranium-zirconium alloy relating to various thermophysical
properties. The data will support fuel performance modeling and
regulatory licensing efforts for the commercial deployment of
Lightbridge Fuel.
“We are pleased to collaborate with Lightbridge
in achieving this important milestone in their efforts to qualify
Lightbridge fuel,” said Jess Gehin, INL associate laboratory
director for Nuclear Science and Technology. “This achievement
demonstrates the unique role that national laboratories,
particularly INL, play in nuclear innovation and keeping the U.S.
as the global leader in nuclear energy.”
“Reaching this milestone is an important step in
our ongoing work with INL,” said Dr. Scott Holcombe, Vice President
of Engineering at Lightbridge Corporation. “Casting and extruding
this demonstration billet of Lightbridge Fuel alloy showcases the
unique research talent and facilities within the lab’s Materials
and Fuels Complex.”
To see more photos from INL, please visit
www.ltbridge.com.
About Lightbridge
CorporationLightbridge 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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For an introductory video on Lightbridge, please
visit www.ltbridge.com or click here to watch the video.
Forward Looking StatementsWith
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, IRCDirector of Investor
RelationsTel: +1 (347) 947-2093ir@ltbridge.com
Photos accompanying this announcement are available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/13b4afb1-f8e6-4598-bc01-d80599758ff6https://www.globenewswire.com/NewsRoom/AttachmentNg/2f778745-e298-4ffa-94d3-a4c71497e5c7https://www.globenewswire.com/NewsRoom/AttachmentNg/f02dc1e7-02f5-4b8e-8fc8-06bace059f20
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