Lightbridge CEO Seth Grae Attends White House Summit on Domestic Nuclear Deployment
30 May 2024 - 10:00PM
Lightbridge Corporation (“Lightbridge”) (Nasdaq: LTBR), an advanced
nuclear fuel technology company, today announced that its Chairman
and CEO, Seth Grae, attended the White House Summit on Domestic
Nuclear Deployment (the “Summit”), hosted by the Biden-Harris
Administration. The Summit, held on May 29, 2024, focused on new
initiatives to strengthen the domestic nuclear industry and advance
America's clean energy future.
The White House Summit underscored the
Administration's commitment to bolstering the nuclear sector as a
cornerstone of the nation’s strategy to achieve net-zero emissions
and enhance energy security. Key announcements included measures to
support nuclear innovation, ensure the longevity of existing
reactors, and promote the development of advanced nuclear
technologies.
The White House Summit brought together leaders
from the nuclear industry, government, and academia to discuss the
role of nuclear energy in the United States' energy policy. Mr.
Grae’s participation highlights Lightbridge’s active engagement in
national discussions aimed at promoting nuclear energy as a
critical component of a sustainable and secure energy landscape.
The collaborative efforts and new policies announced are expected
to drive significant advancements in nuclear technology, fostering
a robust and resilient energy infrastructure.
Seth Grae, Chairman & Chief Executive
Officer of Lightbridge Corporation, commented, “I was honored to
represent Lightbridge at such a pivotal event for the domestic
nuclear industry. The Administration’s initiatives are a
significant step forward in revitalizing the domestic nuclear
sector and ensuring that nuclear energy remains a vital part of our
clean energy future. Lightbridge is committed to playing a key role
in the transition to a cleaner energy future. We believe that
Lightbridge Fuel™, which is designed to improve the economics and
safety of existing and next generation nuclear reactors, will help
achieve these shared goals.”
About Lightbridge
Corporation Lightbridge 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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Forward Looking
Statements With 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, IRC Director of
Investor RelationsTel: +1 (347) 947-2093ir@ltbridge.com
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