Lightbridge Corp (NASDAQ:LTBR) recently announced that the U.S. Patent and Trademark Office has sent it a notice of allowance for a key patent related to its metallic nuclear fuel assembly design. This advanced fuel technology from Lightbridge is designed significantly for improving the performance, economics, and safety of nuclear power plants.
With this latest patent allowance, the patent portfolio coverage of the company in the United States will extend to an entire metallic fuel assembly design for Western-type pressurized water reactors comprising two-thirds operating globally. Also, the metallic fuel designs from Lightbridge can be adapted according to the use in almost all the other power reactors across the world.
Seth Grae, Lightbridge President, and CEO said that this latest notice for a U.S. patent further expands the global patent protection that is already surrounding company’s fuel. This newly received patent will focus on the fuel assembly design and will build upon an earlier US patent involving several other US patents for different variant of the seed-and-blanket fuel assembly design and more specifically fuel rod design.
According to Grae, the intellectual property in the company’s proprietary fuel designs reflects years of tireless efforts and research by its team including many of the leading experts within the nuclear energy field. Lightbridge has secured patents in different countries in the past few years including in South Korea, China, and the European Union related to its innovative advanced fuel design.
Lightbridge And Framatome Joint Venture
Framatome and Lightbridge recently announced the formation of a joint venture, Enfission to develop, license, and sell nuclear fuel assemblies. The work will be based on Lightbridge-designed metallic fuel technology as well as other advanced nuclear fuel intellectual property. Framatome is a leading provider of components, nuclear fuel, and reactor services.
Lightbridge is a nuclear fuel technology development US-based company located in Reston, Virginia. The Company is known for developing proprietary next generation nuclear fuel technologies for future as well as current reactors.