Lightbridge gets patent allowance for nuclear fuel design in Canada

Lightbridge Corporation (NASDAQ: LTBR) received a Notice of Allowance from the Canadian Intellectual Property Office for its nuclear fuel assembly design, the company announced in a press release.

Canadian Patent Application No. 2,960,383, titled "Fuel Assembly," covers 48 claims for fuel assemblies comprising helically twisted fuel elements arranged into a mixed grid pattern and nuclear reactors incorporating such assemblies. The application was originally filed in September 2015.

The allowed claims describe fuel assemblies with helically twisted fuel elements supported by a frame in a fuel rod bundle and arranged in mixed grid patterns that include 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 particular shapes.

The patent applies to pressurized heavy water reactors, including Canada's CANDU reactor fleet. Seth Grae, President and Chief Executive Officer of Lightbridge Corporation, said the patent allowance strengthens the company's intellectual property portfolio in Canada.

Lightbridge develops nuclear fuel technology for existing light-water and pressurized heavy-water reactors. The company has entered into two long-term framework agreements with Battelle Energy Alliance, the U.S. Department of Energy's operating contractor for Idaho National Laboratory.

The company has received awards from DOE's Gateway for Accelerated Innovation in Nuclear program to support development of its fuel technology. Lightbridge is included in the Russell 2000 and Russell 3000 Indexes.

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