WASHINGTON, March 4, 2010 (GLOBE NEWSWIRE) -- Lightbridge Corporation (Nasdaq:LTBR),the leading developer of non-proliferative nuclear fuel technology and provider of comprehensive advisory services for civil nuclear energy programs, today announced it strongly supports legislation introducing the Thorium Energy Security Act of 2010 presented by Sen. Orin G. Hatch (R-Utah) and Harry Reid (D-Nev.).
"Thorium-based nuclear fuel offers promise for our country's sustainable energy needs," said Seth Grae, Lightbridge CEO. "This legislation demonstrates that by supporting innovative nuclear fuel technologies we can meet today's energy demands by curbing proliferation and acting in a safe and responsible manner."
The legislation aims to accelerate the use of thorium-based nuclear fuel in existing and future international reactors. Benefits of using thorium for nuclear power include cutting the volume of spent fuel by as much as 40%. This is possible because thorium fuel rods remain in reactors approximately three times as long as a conventional nuclear fuel.
Benefits of using thorium for nuclear power include:
Grae continued, "The proposed legislation underscores the importance of these benefits and the critical role new fuel technologies will have in next generation nuclear development. Upon commercialization, our nuclear fuel technology will have the ability to power future reactors but requires no changes to existing reactors. We at Lightbridge are excited and encouraged by the interest in thorium-based fuels and welcome the opportunity to work with the government to ensure thorium's benefits can be realized."
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Ogilvy Public Relations Greg Jawski 212-880-5353