Lightbridge (LTBR) Awarded Second US Department of Energy GAIN Voucher for Advanced Nuclear Technology Innovation

March 25, 2021 2:55 PM EDT

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel technology company, today announced that it was awarded its second voucher from the U.S. Department of Energy’s (DOE) Gateway for Accelerated Innovation in Nuclear (GAIN) program to support development of Lightbridge Fuel™. The scope of this project, working in collaboration with the Pacific Northwest National Laboratory (PNNL) in Richland, WA, is to demonstrate Lightbridge’s nuclear fuel casting process using depleted uranium, a key step in the manufacture of our fuel.

The total project value is approximately $664,000, with three-quarters of this amount funded by DOE for the scope performed by PNNL. The project is anticipated to commence in the first half of 2021.

Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented: “We are proud to have been awarded a second GAIN voucher from the DOE, which further validates our advanced nuclear technology and our fuel development efforts. We are pleased to collaborate with PNNL, which has world-class expertise and equipment that is superbly suited for the scope of this project.”

“This voucher will provide Lightbridge the opportunity to advance our research and development efforts towards testing and determining an integral component of the manufacturing process for Lightbridge Fuel™. Once a CRADA related to this GAIN voucher is signed, Lightbridge will work with PNNL on a novel process to cast depleted uranium-zirconium material that PNNL will supply to Lightbridge. Together, the project team will then cast uranium-zirconium ingots that will be submitted to a battery of testing and analysis, culminating in a final report.”

“We are grateful for DOE’s continued support, which helps American companies such as ours develop next-generation nuclear fuel technology to meet our energy needs while protecting the climate,” concluded Mr. Grae.

Additional information about the GAIN voucher is available at: https://gain.inl.gov/SiteAssets/2021VoucherAbstracts-2ndRound/GAIN2021_2ndRoundNEVoucherAnnouncement.pdf



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Management Comments

Related Entities

Twitter