Lightbridge Corp. releases nuclear fuel development update and financial results

Lightbridge releases nuclear fuel development update and financial results
Lightbridge releases nuclear fuel development update and financial results | Courtesy of

Lightbridge Corporation, a top innovator for nuclear fuel designs and supplier of nuclear energy consulting services, recently released a business update about its nuclear fuel technology development and a financial report about the first quarter of 2015.

"Lightbridge made significant progress during the first quarter toward achieving strategic milestones in the development of the company's proprietary metallic nuclear fuel technology," President and CEO Seth Grae said. "Our patented fuel design can help nuclear utilities worldwide improve operating economics, increase power output and enhance reactor safety. Lightbridge remains well positioned to realize high-margin revenue streams from technology licensing fees and royalties from a growing $25 billion annual market for nuclear fuel."

Lightbridge is currently working toward the development and commercialization of the next generation of nuclear fuel technology. This advancement will improve safety, heighten operating margins for old and new reactors and raise revenue.

"Lightbridge staff and capital are focused on the company's nuclear fuel development program," Grae said. "We are confident that this focus on near-term catalysts in fuel technology development will lead to long-term value creation for Lightbridge stakeholders."

The overall commercial nuclear energy industry is estimated to continue to grow; experts project that by 2040, the nuclear capacity will increase by 58 percent.

"Over the next 12 to 15 months, we expect to incur approximately $2.5 million to $3.0 million in research and development expenses related to the development of our proprietary nuclear fuel designs," Grae said. "We spent approximately $0.2 million and $0.4 million for research and development during the quarters ended March 31, 2015 and 2014, respectively. Savings from a cost-reduction program initiated in late 2014, including the closing of our Moscow office, are being reallocated to R&D work in the U.S., and planned future work in Canada and Norway."

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