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Lightbridge Corporation ("Lightbridge" or the "Company") (Nasdaq: LTBR), an advanced nuclear fuel technology company, an advanced nuclear fuel technology company, today announced that it has received a Notice of Allowance from the Canadian Intellectual Property Office ("CIPO") for its nuclear fuel assembly design. Specifically, Canadian Patent Application No. 2,960,383, titled "Fuel Assembly," covers 48 claims directed to fuel assemblies comprising helically twisted fuel elements arranged into a mixed grid pattern, as well as nuclear reactors incorporating such fuel assemblies.
The allowed claims, stemming from an application originally filed in September 2015, describe fuel assemblies comprising a plurality of helically twisted fuel elements supported by a frame in a fuel rod bundle and arranged in a mixed grid pattern that includes both rectangular and triangular grid configurations. Through a Request for Continued Examination, Lightbridge secured broader claims covering fuel assemblies with mixed grid patterns without specifying the particular shapes of those patterns, consistent with the Company's approach in related applications in other jurisdictions. The patent is particularly relevant to pressurized heavy water reactors, including Canada's CANDU reactor fleet.
Seth Grae, President and Chief Executive Officer of Lightbridge Corporation, commented, "This Notice of Allowance strengthens our intellectual property portfolio in Canada, a country with deep nuclear expertise and a fleet of CANDU reactors that could benefit from our innovative fuel technology. Canada's ongoing investments in life extensions for its existing CANDU reactors, as well as its growing interest in small modular reactors, make this an important potential market for Lightbridge Fuel™."
About Lightbridge Corporation
Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential to delivering abundant, zero-emission, clean energy and providing energy security to the world. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light-water and pressurized heavy-water reactors, significantly enhancing reactor safety, economics, and proliferation resistance. The Company is also developing Lightbridge Fuel for new small modular reactors to deliver the same benefits, plus load-following with renewables, on a zero-carbon electric grid.
Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance, LLC, the United States Department of Energy's operating contractor for Idaho National Laboratory, the United States' lead nuclear energy research and development laboratory. DOE's Gateway for Accelerated Innovation in Nuclear program has twice awarded Lightbridge to support the development of Lightbridge Fuel over the past several years. An extensive worldwide patent portfolio backs Lightbridge's innovative fuel technology. Lightbridge is included in the Russell 2000® and Russell 3000® Indexes. For more information, please visit www.ltbridge.com.
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Forward Looking Statements
With the exception of historical matters, the matters discussed herein are forward-looking statements. 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: Lightbridge's ability to commercialize its nuclear fuel technology; the degree of market adoption of Lightbridge's product and service offerings; Lightbridge's ability to fund general corporate overhead and outside research and development costs; market competition; our ability to attract and retain qualified employees; dependence on strategic partners; demand for fuel for nuclear reactors; Lightbridge's ability to manage its business effectively in a rapidly evolving market; the availability of nuclear test reactors and the risks associated with unexpected changes in Lightbridge's fuel development timeline; the increased costs associated with metallization of Lightbridge's nuclear fuel; public perception of nuclear energy generally; changes in the political environment; risks associated with war in Europe; changes in the laws, rules and regulations governing Lightbridge's business; development and utilization of, and challenges to, Lightbridge's intellectual property; risks associated with potential shareholder activism; potential and contingent liabilities; as well as other factors described in Lightbridge's filings with the Securities and Exchange Commission (the "SEC"). 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, 2025, and in its other filings with the SEC, including in the sections thereof captioned "Risk Factors" and "Forward-Looking Statements," all of which are available at http://www.sec.gov/ and www.ltbridge.com.
Investor Relations Contact:
Matthew Abenante, IRC
Director of Investor Relations
Tel: +1 (347) 947-2093
ir@ltbridge.com
