Benzinga | Mar 22, 2021 12:37PM EDT

Lightbridge Has Agreed To Pay $4.2M In Settlement To Dissolve Enfission Joint Venture

Lightbridge Corporation (NASDAQ:LTBR), an advanced nuclear fuel technology company, and Framatome, a leader in nuclear fuel, components and reactor services, today announced that they have reached a Settlement Agreement (the 'Agreement') that dissolves the Enfission joint venture.



As per the terms of the Agreement, Lightbridge and Framatome are each free to pursue their ongoing technology development without any constraints. Lightbridge has agreed to pay approximately $4.2 million, consisting of unpaid invoices and certain other costs incurred by Framatome. Framatome and Lightbridge retain all intellectual property rights to their respective background technology. The Agreement resolves all disputes between the companies and terminates all agreements pertaining to the joint venture.