Lightbridge Announces Formation of a Nuclear Utility Fuel Advisory Board Top Nuclear Fuel Experts from Exelon, Duke Energy and Dominion to be First Members of Newly Created Board
MCLEAN, Va., Nov. 10, 2011 /PRNewswire/ -- Lightbridge Corporation (NASDAQ: LTBR), a leading innovator of next generation nuclear fuel designs and provider of nuclear energy consulting services to commercial and governmental organizations, today announced that it has established a Nuclear Utility Fuel Advisory Board that will initially consist of senior nuclear fuel managers from Exelon, Duke Energy and Dominion. The objective and purpose of this Board will be to further strengthen dialogue with global nuclear utilities, consistent with U.S. export laws, and provide their input into Lightbridge's nuclear fuel development and commercialization efforts.
The following nuclear fuel experts will be participating on the Company's Nuclear Fuel Utility Advisory Board:
- Kenneth S. Petersen, Vice President Nuclear Fuels, Exelon Generation Company, LLC
- David Culp, Manager, Fuel Management & Design, Duke Energy
- Kerry Basehore, Director, Nuclear Analysis and Fuel, Dominion
"The creation of this new Nuclear Utility Fuel Advisory Board provides Lightbridge with insights and perspectives from the individuals and companies that represent the ultimate customer for our nuclear fuel designs," said Jim Malone, Chief Nuclear Fuel Development Officer of Lightbridge. "The tangible benefit for these initial members is that they have the opportunity to learn firsthand about our next generation nuclear fuel designs and closely follow the Company's fuel development and qualification activities. We're very pleased to have these top nuclear industry experts join the newly formed advisory board."
"Exelon Nuclear is following Lightbridge's metallic fuel development and demonstration program," said Kenneth Peterson, Vice President of Nuclear Fuels of Exelon Corporation (NYSE: EXC). "Our interest is based on the potential benefits the fuel could bring to the industry with respect to power uprates, longer fuel cycles, safety and used fuel inventory. We are pleased to join the new advisory board and look forward to working with Lightbridge and other members of the advisory board on advancing this fuel development program."
About Lightbridge Corporation
Lightbridge is a U.S. nuclear energy company based in McLean, VA with operations in Abu Dhabi, Moscow and London. The Company develops proprietary, proliferation resistant, next generation nuclear fuel technologies for current and future nuclear reactor systems. The Company also provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. Lightbridge's breakthrough fuel technology is establishing new global standards for safe and clean nuclear power and leading the way towards a sustainable energy future. Lightbridge consultants provide integrated strategic advice and expertise across a range of disciplines including regulatory affairs, nuclear reactor procurement and deployment, reactor and fuel technology and international relations. It leverages those broad and integrated capabilities by offering its services to commercial entities and governments with a need to establish or expand nuclear industry capabilities and infrastructure.
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SOURCE Lightbridge Corporation