Lightbridge's Malone to Chair WNA's Newly-Formed Fuel Technology Working Group

TYSONS CORNER, Va., Sept. 12, 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, is pleased to announce that Chief Nuclear Fuel Development Officer Jim Malone has been asked to chair the World Nuclear Association's (WNA) newly-formed Fuel Technology Working Group.

As chair of the Working Group, Malone will lead a body of members from industry organizations that include representatives of the world's leading nuclear fuel companies and utilities. The WNA's Working Groups are comprised of 12 bodies that consist of nuclear experts who assemble several times a year focusing on objectives that include defining steps and mechanisms needed to promote industry goals of standardization in reactor design and harmonization of regulatory practice; providing frequent opportunities for WNA members to discuss developments in nuclear fuel and trade; identifying specific measures necessary to achieve capacity optimization in power plant operations; and addressing crucial legal issues surrounding nuclear new-build and start-up of nuclear power operations in new nations.

"Lightbridge is delighted that Mr. Malone has been asked to serve as chair as it validates the depth of his career, knowledge and expertise in all aspects of fuel procurement and management," said Seth Grae, President and CEO of Lightbridge. "We are confident the Working Group will attain its goals under his leadership."

The Fuel Technology Working Group's first meeting will be held in conjunction with the 36th Annual WNA Symposium in September 14-16, 2011, in London, where the Working Group will develop specific goals and objectives for a multi-year plan.

"I am honored that my peers have asked me to serve as chair of WNA's newest Working Group," said Mr. Malone. "By working with industry experts, I hope to help communicate the benefits and future of the nuclear industry and support continual progress among the industry, nations, regulatory bodies and other important parties."

Prior to joining Lightbridge, Malone retired after a decade with Exelon Generation Company in late 2009, where as vice president of Nuclear Fuels he provided strategic direction and tactical guidance for Exelon's nuclear fuel cycle activities. Under Malone's supervision, the Nuclear Fuels department provided reload bundle and core design, safety analysis, and plant technical support, including fuel reliability, component procurement strategy and decommissioning strategy.

Before joining Exelon, Malone served for ten years as vice president and senior consultant at NAC International, where he consulted on fuel reliability and the front and back ends of the nuclear fuel cycle, among other issues. Prior to this, Malone's career experience included work with SWUCO, Inc., Yankee Atomic and the Nuclear Engineering Department of United Nuclear Corporation.

About Lightbridge Corporation

Lightbridge is a U.S. nuclear energy company based in Tysons Corner, 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