Lightbridge predicts increased demand for metallic nuclear fuel

Within a development and commercialization progress report, Lightbridge Corp. predicted increasing demand for metal-based nuclear fuel rods, the company said on Wednesday.

The report said the Clean Power Plan, recently introduced by the Environmental Protection Agency (EPA), requires that carbon emissions from power plants be reduced by 32 percent by 2030. The company said its fuel rods are capable of producing up to 17 percent more electricity than conventional fuel rods on existing nuclear power reactors.

"At a time of heightened awareness of nuclear energy's crucial role in mitigating the negative effects of greenhouse gas emissions from fossil fuels, Lightbridge remains on track to deliver to the world a safer nuclear fuel that helps utilities improve reactor operating economics through increased power output," Lightbridge CEO and President Seth Grae said. "The company is well positioned to realize high-margin revenue streams in the coming years from technology licensing fees and royalties from a growing $25 billion annual market for nuclear fuel. We believe Lightbridge metallic fuel offers an unmatched value proposition to operators of both existing and new-build reactors."

The corporation reports that several nuclear managers in the U.S. have requested that the U.S. Nuclear Regulatory Commission prepare a review of Lightbridge technology before its intended review begins in 2017. These include Dominion Generation, Exelon Generation, Southern Company and Duke Energy.

"The importance of this milestone cannot be overstated because without support from utility customers, the NRC will not allocate resources to a regulatory review," Grae said.