Lightbridge Applauds Nuclear Industry’s Strategic Plan to Help Meet Virginia’s Carbon-Free Energy Goals
February 24 2021 - 3:05PM
Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel
technology company, commended the Virginia Nuclear Energy
Consortium (VNEC) on the release of a strategic plan for nuclear
energy in Virginia that will help the state meet its carbon-free
energy goals and promote private-sector innovation.
The plan, Virginia Is Nuclear, lays out a
four-year strategy to leverage nuclear energy to promote economic
development, protect the environment, and support national
security. The report was the product of legislation passed last
year directing the state to work with nuclear energy stakeholders
on the development of the plan.
The industry’s vision will ensure that nuclear
energy keeps producing a significant part of the state’s
carbon-free energy, prioritizes nuclear technology innovation,
leverages existing in-state infrastructure, and provides
educational opportunities for the future nuclear workforce.
“This strategic plan provides a comprehensive
vision for how nuclear energy can help Virginia meet its
carbon-free energy goals, while protecting its environment and
supporting economic development. Virginia is home to leading
companies in the global nuclear energy industry as well as
companies developing next-generation nuclear technology, this
strategic plan will help ensure the state stays at the forefront of
innovation in this important field,” said Seth Grae, President and
CEO of Lightbridge. Grae also serves on the board of directors of
the VNEC.
Click here for the full strategic plan.
About Lightbridge
Corporation
Lightbridge (NASDAQ: LTBR) is an advanced
nuclear fuel technology development company based in Reston,
Virginia, United States. The Company is developing Lightbridge
Fuel™, a proprietary next-generation nuclear fuel technology for
current and future reactors, which significantly enhances the
economics, safety, and proliferation resistance of nuclear power.
Lightbridge invented, patented, and has independently validated its
technology, with goals of preventing climate change and enhancing
national security. The Company has assembled a world-class
development team. Four large electric utilities that generate about
half of America’s nuclear power advise Lightbridge on fuel
development and deployment. The Company plans to operate under a
licensing and royalty model and based on the increased power
generated by Lightbridge-designed fuel, expects to offer high ROI
for operators of existing and new reactors. For more information
please visit: www.ltbridge.com.
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Forward Looking Statements
With the exception of historical matters, the
matters discussed in this news release are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements regarding the timing and
outcome of research and development activities, other steps to
commercialize Lightbridge Fuel™ and future governmental support and
funding for nuclear energy. 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: the Company’s ability to commercialize its nuclear fuel
technology; the degree of market adoption of the Company's product
and service offerings; market competition; dependence on strategic
partners; demand for fuel for nuclear reactors; the Company's
ability to manage its business effectively in a rapidly evolving
market; changes in the political environment; risks associated with
the further spread of COVID-19, including the ultimate impact of
COVID-19 on people, economies, and the Company’s ability to access
capital markets; the outcome of the arbitration with the Company’s
former joint venture partner and dissolution of the Enfission joint
venture; as well as other factors described in Lightbridge's
filings with the U.S. Securities and Exchange Commission.
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, 2019 and in its subsequent reports
on Form 10-Q, including in the sections thereof captioned “Risk
Factors” and “Forward-Looking Information and Factors That May
Affect Future Results”, as well as in its subsequent reports on
Form 8-K, all of which are filed with the U.S. Securities and
Exchange Commission and available at http://www.sec.gov/ and
www.ltbridge.com.
Investor Relations Contact:Matthew Abenante,
IRCDirector of Investor Relations Tel: +1 (646) 828-8710
ir@ltbridge.com
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