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Lightbridge Corporation develops advanced nuclear fuel technology through Lightbridge Fuel™, a proprietary next-generation fuel for existing light-water reactors, pressurized heavy-water reactors including CANDU-type designs, and new small modular reactors. News about LTBR commonly centers on fuel-development progress, nuclear materials research, thermal-hydraulics testing, patent protection for metallic fuel assemblies and multi-zone fuel elements, and collaborations tied to national laboratory and university research programs.
Company updates also report quarterly and annual financial results, R&D spending, balance-sheet resources, investor conference participation, and technical presentations on uranium-zirconium alloy and metallic fuel concepts. Coverage reflects Lightbridge's focus on qualification, licensing support, intellectual property, and commercialization of its nuclear fuel technology.
Lightbridge Corporation (NASDAQ: LTBR) announced receiving its second voucher from the U.S. Department of Energy (DOE) under the GAIN program to advance Lightbridge Fuel™ development. The project, in collaboration with the Pacific Northwest National Laboratory (PNNL), is valued at approximately $664,000, with the DOE funding three-quarters. Set to begin in the first half of 2021, it aims to demonstrate a critical nuclear fuel casting process using depleted uranium. CEO Seth Grae emphasized the validation of their technology and the significance of the collaboration.
Lightbridge Corporation (NASDAQ: LTBR) reported its fiscal year 2020 results, showcasing a net loss of $14.4 million, up from $10.7 million in 2019. Despite the COVID-19 challenges, the company secured a GAIN voucher from the U.S. Department of Energy and settled disputes with Framatome, allowing for more freedom in fuel development. Cash and cash equivalents rose to $21.5 million from $18.0 million. General and administrative expenses increased due to arbitration costs, while R&D costs decreased significantly, focusing on Small Modular Reactors (SMRs) to support a decarbonized energy future.
On March 22, 2021, Lightbridge Corporation (NASDAQ: LTBR) announced a Settlement Agreement with Framatome to dissolve their joint venture, Enfission. As part of the agreement, Lightbridge will pay approximately $4.2 million to cover unpaid invoices and costs incurred by Framatome. Both companies will continue their technology developments independently while retaining intellectual property rights. This move resolves all past disputes between the companies and ends their joint venture agreements.
Lightbridge Corporation (NASDAQ: LTBR) will announce its fiscal year 2020 financial results on March 24, 2021, post-market close. A conference call is scheduled for March 25 at 4:00 p.m. ET, hosted by CEO Seth Grae, to discuss results and fuel development updates. The company is focused on advancing its proprietary Lightbridge Fuel™ technology, aiming to enhance the efficiency and safety of nuclear energy. This technology is anticipated to deliver high returns on investment for nuclear operators. For more details, visit the company's website.
Lightbridge Corporation (NASDAQ: LTBR) commended the Virginia Nuclear Energy Consortium for its new strategic plan aimed at enhancing nuclear energy in Virginia. The plan, 'Virginia Is Nuclear,' outlines a four-year strategy to leverage nuclear power for economic development and environmental protection. It aims to maintain a significant portion of Virginia's carbon-free energy while fostering nuclear technology innovation and workforce development. CEO Seth Grae emphasized the plan's importance for the state's energy goals and innovation leadership.
Lightbridge Corporation (Nasdaq: LTBR) has received a Notice of Allowance from the U.S. Patent and Trademark Office for Patent Application #15/900,071. This patent covers a method for manufacturing metallic fuel rods through co-extrusion, which strengthens the company’s intellectual property in nuclear fuel technology. CEO Seth Grae emphasized that Lightbridge Fuel™ enhances reactor efficiency with a 30% power uprate, contributing to U.S. climate goals. The company aims to commercialize its technology, enhancing safety and economics in nuclear energy production.
Lightbridge Corporation (NASDAQ: LTBR) announced its involvement in a new report by the American Nuclear Society (ANS) focusing on the U.S. nuclear R&D landscape. The report, which includes contributions from its CEO Seth Grae, outlines the federal investment needed for advanced nuclear technology to support zero-carbon energy goals by 2030. It emphasizes nuclear power's role in job creation and combating climate change. Lightbridge aims to innovate nuclear fuel technology, enhancing safety and economy.
Lightbridge Corporation (NASDAQ: LTBR) announced receipt of a Notice of Allowance for a new patent from the Korean Intellectual Property Office, covering innovative designs for metallic fuel rods. This includes an alternative design where the rod's centerline is offset from its center of mass and a unique fuel assembly. CEO Seth Grae emphasized that this patent expands their portfolio, enhancing intellectual property protection for Lightbridge Fuel™, which aims to facilitate commercialization globally. The company focuses on safety, economic efficiency, and national security in the nuclear energy sector.
Lightbridge Corporation (NASDAQ: LTBR) will have its President & CEO, Seth Grae, participate in a panel discussion titled Nuclear Beyond Power: Hydrogen, Heat, and Desalination at the 2021 Atlantic Council Global Energy Forum on January 20, 2021, at 10:00 a.m. Abu Dhabi time (1 a.m. ET). The Forum will be livestreamed and focuses on the post-pandemic energy system and net-zero carbon goals. Lightbridge Corporation is innovating nuclear fuel technology to enhance safety and economics in nuclear power, aiming for a sustainable energy future.
Lightbridge Corporation (NASDAQ: LTBR) announced the receipt of Patent No. 036359 from the Eurasian Patent Office for its innovative nuclear fuel assemblies featuring multi-lobe fuel rods arranged in a mixed grid pattern. This patent supports the company's mission to enhance the efficiency, cost-competitiveness, and safety of both existing and new nuclear power plants. CEO Seth Grae emphasized the significance of this patent in validating their advanced nuclear fuel technology, aligning with their goal of combating climate change while ensuring national security.