Lightbridge Corp. (LTBR) Signs Agreement with Korea Atomic Energy Research Institute for Opportunities in Nuclear Fuel Collaboration

Nov. 28, 2011 3:02 PM ETLTBR
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Lightbridge Corp., a company that develops nuclear fuel technology and provides consulting and advisory services worldwide, announced that it has signed a Memorandum of Agreement (MOA) with the Korea Atomic Energy Research Institute (KAERI) to uncover opportunities for nuclear fuel collaboration.

In accordance to the terms of the MOA, Lightbridge and KAERI will be exploring collaborative opportunities in the pre-irradiation examination of the metallic fuel samples designed by Lightbridge, and other areas. As part of the planned loop irradiation experiments in the MIR Research Reactor in Russia and the Advanced Test Reactor located in the U.S., Lightbridge plans to carry out a pre-irradiation examination of metallic fuel samples before they are used in irradiation testing.

“This is an exciting development for Lightbridge as we and KAERI plan to collaborate in a key area,” said Jim Malone, Chief Nuclear Fuel Development Officer of Lightbridge. “KAERI is interested in Lightbridge-designed metallic fuel technology and its potential application to Korean OPR-1000 and APR-1400 reactors.”

KAERI has a distinct history of research and development in numerous nuclear-related fields. The Institute is researching and developing fuel concepts with the objective to reduce the fuel operating temperature and potentially increasing the burn-up. The two companies will be exploring how they will be able to come together and collaborate in order to further enhance Lightbridge’s plans for nuclear fuel testing.

Lightbridge Corp. is a developer of nuclear fuel technology and provides consulting and advisory services worldwide. Its Technology Business Segment operates in the development, promotion, and marketing of nuclear fuel designs for pressurized water reactors. This segment’s fuel products in the development stage include all-metal fuel technology based on a uranium-zirconium alloy; and thorium-based fuel technology that is based on a seed-and-blanket fuel assembly configuration. The company’s Consulting Business Segment provides consulting and strategic advisory services to companies and governments planning to create or expand electricity generation capabilities using nuclear power plants. Lightbridge Corporation has a collaboration agreement with AREVA as well. The company was formerly known as Thorium Power, Ltd. and changed its name to Lightbridge Corporation in September 2009. Lightbridge Corporation was founded in 1992 and is based in McLean, Virginia.

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