Lightbridge signs research agreement with US government
marketwatch.com
RESTON, Apr 27, 2020 (GLOBE NEWSWIRE via COMTEX) -- Lightbridge Corporation ("Lightbridge," or the "Company") (NASDAQ: LTBR), an advanced nuclear fuel technology company, is pleased to announce that it has entered into a Cooperative Research and Development Agreement (CRADA) with the Battelle Energy Alliance, LLC, the operating contractor of the Idaho National Laboratory (INL), in collaboration with the U.S. Department of Energy (DOE). The principal goal of this agreement is to design an experiment for irradiation of Lightbridge metallic fuel material samples in the Advanced Test Reactor (ATR) at INL. The experiment will allow Lightbridge to measure the thermo-physical properties of Lightbridge Fuel(TM) material samples. The total project value of the CRADA is approximately $845,000, with three-quarters of this amount funded by DOE for the scope performed by INL.
Seth Grae, President & CEO of Lightbridge Corporation, commented, "We are delighted to achieve this milestone, entering into our first CRADA under the GAIN initiative. DOE is a forward-thinking agency that has committed to supporting nuclear energy innovations from American companies. Through the GAIN program, Lightbridge will have the opportunity to collaborate with and access the world-class nuclear research capabilities at INL. We believe the work we accomplish with INL under this CRADA will further validate our Lightbridge Fuel(TM) technology, positioning the Company to advance in our development and commercialization efforts," concluded Mr. Grae.
Lightbridge and INL will establish the test plan for measuring key thermo-physical properties of Lightbridge Fuel(TM) material both before and after irradiation in the ATR. INL will then perform the detailed design and establish the safety case for the experiment in the ATR. This will include the control of parameters such as thermal hydraulic capacity, maximum sample temperature, neutron fluence, and the physical location of the test capsules within the ATR. The output of this project will be the complete design and safety case needed for insertion of the experiment into the ATR. The timeline for the CRADA is 12 months from project initiation. |
