Benzinga | Oct 12, 2021 08:03AM EDT

Lightbridge Receives Notice Of Acceptance For Key Patent In Australia

Lightbridge Corporation (NASDAQ:LTBR), an advanced nuclear fuel technology company, today announced that it received a Notice of Acceptance for a key divisional patent from the Australia Patent Office related to Lightbridge's innovative metallic nuclear fuel assembly design. The newly allowed patent is based on the 2015 Patent Cooperation Treaty (PCT) patent application and covers a fuel assembly having a mixed grid pattern of fuel rods.



Lightbridge Fuel(tm) has been designed to enhance the safety and economics of nuclear power for both existing and next-generation nuclear reactors.

Seth Grae, President and CEO of Lightbridge commented, "We continue to expand our intellectual property portfolio around the world. Australia represents a potential strategic market for Lightbridge, particularly as one the world's leading uranium producers and increasingly considering pursuing nuclear power generation. We recently received similar patents in Japan and Korea for our metallic fuel assembly design with metallic fuel rods arranged in a mixed grid pattern. These patents are an important addition to our rapidly expanding global patent portfolio."

Lightbridge has patents pending in various countries around the world, including the United States, South Korea, Canada, Japan, Eurasia, and Australia, as well as additional patents pending in Europe and China.