Lightbridge Corp. said on Wednesday that it expects demand for nuclear fuel to increase with the release of the final Clean Power Plan.
The plan aims to reduce carbon emissions by 32 percent within the utility power industry by 2030. The plan allows individual states to determine how they will meet new emissions standards, which can include increasing the use of renewable energy and nuclear fuel, and implementing energy-efficient technology.
Lightbridge has developed metallic-based nuclear fuel, which the company said can provide 10 percent to 17 percent more fuel capacity than current reactor technology.
“The EPA’s final plan clearly recognizes the value of commercial nuclear energy in addressing the increasing demand for low-carbon base-load electricity and mitigating the negative effects of greenhouse gas emissions from fossil fuels,” Lightbridge President and CEO Seth Grae said. “Lightbridge fuel has been shown to deliver what nuclear utilities today want most — enhanced economic competitiveness and increased safety margins. Compared with conventional nuclear fuel, only Lightbridge metallic fuel can offer meaningful power up-rates and longer fuel cycles that will provide the lowest levelized cost per kilowatt hour on the grid.”
The company predicts that its nuclear fuel system will be able to be commercialized in reactors by 2020 or 2021.
