Lightbridge Corporation (LTBR)

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NuScale Power and Enfission Sign MOU to Explore Use of Next Generation Nuclear Fuel Technology

https://ih.advfn.com/stock-market/NASDAQ/lightbridge-corp-LTBR/stock-news/79919543/nuscale-power-and-enfission-sign-mou-to-explore-us

Agreement could spur new improvements in core design, performance,and levelized electricity cost of NuScale’s small modular reactor

Today, NuScale Power and Enfission, LLC, a joint venture of LightbridgeCorporation (NASDAQ: LTBR) and Framatome, announced a memorandum ofunderstanding to explore the use of next generation nuclear fueltechnology in NuScale’s small modular reactors. While NuScale’s plantdesign is already the most resilient nuclear reactor in the world,Lightbridge Fuel™ could spur improvements in core design, performance,and levelized costs of electricity.

“As NuScale continues making progress to bring America’s first smallmodular reactor to market, we are excited to begin work withVirginia-based Enfission, the industry leader in metallic fuel rodtechnology,” said NuScale Co-Founder and Chief Technology Officer JoséReyes. “We look forward to further optimizing all aspects of ourunparalleled advanced nuclear reactor design.”

Enfission is developing and commercializing next generation nuclear fueltechnology that will significantly improve the economics and safety ofexisting and new reactors. NuScale and Enfission will collaborate on thedevelopment of research and testing programs to explore the applicationof Enfission’s nuclear fuel rod technology, which is well suited forNuScale’s natural circulation design. The company’s advanced fuel roddesign is expected to increase core performance, extend core life,reduce refueling outages and offer reduced levelized cost of electricity.

On December 1, 2015, Framatome signed an agreement with NuScale tomanufacture fuel assemblies for its SMR based on conventional ceramicuranium dioxide fuel and provide testing and analyses needed for itsNuclear Regulatory Commission design certification application. Theaddition of Enfission’s Lightbridge Fuel™ into the equation furthersolidifies this relationship and will provide future flexibility on fueltypes depending on the reactor demands.

“We look forward to working with NuScale Power, with our patentedmetallic fuel technology contributing to NuScale’s ground-breakingprogress in introducing the country’s first small modular reactor,” saidSeth Grae, President and Chief Executive Officer of Lightbridge andEnfission.

NuScale’s technology is the world’s first and only SMR to undergo designcertification review by the U.S. Nuclear Regulatory Commission (NRC).The NRC is scheduled to complete its review of NuScale’s design inSeptember 2020.

About NuScale Power

NuScale Power is developing a new modular light water reactor nuclearpower plant to supply energy for electrical generation, districtheating, desalination, and other process heat applications. Thisgroundbreaking small modular reactor (SMR) design features a fullyfactory-fabricated NuScale Power Module™ capable of generating 60 MW ofelectricity using a safer, smaller, and scalable version of pressurizedwater reactor technology. NuScale's scalable design – a power plant canhouse up to 12 individual power modules – offers the benefits ofcarbon-free energy and reduces the financial commitments associated withgigawatt-sized nuclear facilities. The majority investor in NuScale isFluor Corporation, a global engineering, procurement, and constructioncompany with a 60-year history in commercial nuclear power.

NuScale is headquartered in Portland, Oregon and has offices inCorvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.;Arlington, Va.; and London, UK. Follow us on Twitter: @NuScale_Power,Facebook: NuScalePower, LLC, and Instagram: nuscale_power.

NuScale has a new logo, brand, and website.Watch the short video.

About Enfission, LLC

Enfission is a US-based 50-50 joint venture between LightbridgeCorporation (NASDAQ: LTBR) and Framatome. Enfission was establishedJanuary 25, 2018 to complete the development, regulatory licensing, andcommercial deployment worldwide of nuclear fuel assemblies based onmulti-lobe metallic twisted fuel technology. Enfission will produceLightbridge Fuel™ assemblies initially for operators of U.S. commercialnuclear power plants, then follow with production of Lightbridge Fuel™assemblies for other types of reactors and for markets around the world.

www.Enfission.net



View source version on businesswire.com: https://www.businesswire.com/news/home/20190515005212/en/

Media Contact:
Diane Hughes, NuScale Vice President,Marketing & Communications
[e-mail]
(C)503-270-9329

Enfission Contact:
David Waldman/Natalya Rudman
Tel. [phone]