MCLEAN, Va., July 9, 2014 (GLOBE NEWSWIRE) -- Lightbridge Corporation (Nasdaq:LTBR), a leading innovator of nuclear fuel designs and provider of nuclear energy consulting services, today announced that the Company is a confirmed participant for the U.S. Department of Commerce's 7th Annual U.S. Industry Program in Vienna, Austria, September 21-24, 2014 at the International Atomic Energy Agency General Conference. The IAEA event is the premier global meeting of civil nuclear policymakers and industry representatives, and is expected to draw more than 2,000 senior officials and corporate executives from all 162 member states.
Lightbridge representatives on the trade mission are Seth Grae, President and Chief Executive Officer; and Jon Johnson, Senior Vice President – Advisory Services and a leading authority on licensing, safety and regulation of nuclear power plants.
The U.S. Industry Program is part of the Department of Commerce-led Civil Nuclear Trade Initiative, a U.S. Government effort to help American civil nuclear companies identify and capitalize on commercial civil nuclear opportunities around the world. Mr. Grae is a member of the department's Civil Nuclear Trade Advisory Committee, which advises the U.S. Secretary of Commerce on civil nuclear energy trade matters.
Lightbridge is developing and commercializing next generation nuclear fuel technology with benefits of improving the safety and economics of existing and new pressurized light water reactors. The Company also provides comprehensive advisory services for established and emerging nuclear programs, based on transparency, non-proliferation, safety and operational excellence.
The commercial nuclear energy industry is projected to grow rapidly. There are currently 435 operable civil nuclear reactors in 32 countries around the world, with an additional 71 reactors under construction, according to the World Nuclear Association. By 2035, the International Energy Agency of the Organization for Economic Cooperation and Development projects a 60% increase in nuclear capacity from a combination of power uprates and reactor construction.
About Lightbridge Corporation
Lightbridge is a US nuclear energy company based in McLean, Virginia 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 to 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. The Company 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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Forward Looking Statements
This news release contains statements that are forward-looking in nature within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's competitive position and product and service offerings. These statements are based on current expectations on the date of this news release and involve a number of risks and uncertainties that may cause actual results to differ significantly from such estimates. The risks include, but are not limited to, the degree of market adoption of the Company's product and service offerings; market competition; dependence on strategic partners; and the Company's ability to manage its business effectively in a rapidly evolving market. Certain of these and other risks are set forth in more detail in Lightbridge's filings with the Securities and Exchange Commission. Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise.