WASHINGTON, March 9, 2010 (GLOBE NEWSWIRE) -- A bill to amend the Atomic Energy Act of 1954 to accelerate the use of thorium-based nuclear fuel in existing and future reactors was co-sponsored and formally introduced by Sen. Orrin G. Hatch (R-Utah) and Harry Reid (D-Nev.) on Wednesday, March 3, in the United States Senate and referred to the Committee on Energy and Natural Resources.
To review the press announcement visit:
http://hatch.senate.gov/public/index.cfm?FuseAction=PressReleases.Detail&PressRelease_id=25d9273f-1b78-be3e-e03d-75506902df40&Month=3&Year=2010
To see Senator Hatch's introductory statement for this legislation visit:
http://frwebgate.access.gpo.gov/cgi-bin/getpage.cgi?dbname=2010_record&page=S1019&position=all
To see the full text of the bill visit:
http://thomas.loc.gov/cgi-bin/query/z?c111:S.3060:
"We applaud the efforts of Senators Hatch and Reid in formally introducing this bill to the Senate," said Seth Grae, Lightbridge (Nasdaq:LTBR) CEO. "This is a significant milestone for the nuclear industry and offers the hope that alternative nuclear fuels will be considered for new and existing reactors as global power demand continues to require fresh thinking."
March 5 marked the 40th anniversary of the entry into force of the Treaty on the Non-Proliferation of Nuclear Weapons (NPT). The new bill, if enacted, would further strengthen the NPT by ensuring the growth of nuclear power in the United States and other countries without creating weapons-usable material and excessive waste.
"The introduction of this important legislation by Senators Hatch and Reid, which will advance the cause of peaceful nuclear energy in the context of nuclear non-proliferation, is an appropriate recognition of the 40th anniversary of the entry into force of the NPT," said Ambassador Thomas Graham, Jr., Lightbridge Corporation Executive Chairman of the Board. Speaking as the former Special Representative of the President of the United States for Arms Control, Non-Proliferation, and Disarmament and leader of the U.S. delegation to the international conference that successfully achieved the permanent extension of the NPT, Graham continued, "the legislation introduced by Senators Hatch and Reid is a major step forward for the industry and validation for the thorium-based nuclear fuel technology being developed by Lightbridge."
To see the full text of the treaty visit:
http://www.un.org/en/conf/npt/2005/npttreaty.html">http://www.un.org/en/conf/npt/2005/npttreaty.html
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 non-proliferative nuclear fuel technology and 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 their services to commercial entities and governments with a need to establish or expand nuclear industry capabilities and infrastructure.
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