RESTON, Va., April 18, 2024 (GLOBE NEWSWIRE) -- Lightbridge Corporation (Lightbridge) (Nasdaq: LTBR), an advanced nuclear fuel technology company, today announced that Ambassador Thomas Graham, Jr. will be retiring as Executive Chairman and director of Lightbridge effective as of the upcoming Annual Meeting of Shareholders. Ambassador Graham has been appointed Chairman Emeritus.
I am honored to accept the appointment as Chairman Emeritus of Lightbridge, said Ambassador Graham. Throughout my tenure as Chairman, I have been continually inspired by our team's dedication and innovation in the pursuit of advancing nuclear fuel technology. I am excited to continue contributing to Lightbridge's mission in this new capacity. The journey we are on is critical for the future of clean, sustainable, and secure energy worldwide. I am grateful for the opportunity to remain part of this incredible team and look forward to supporting Lightbridge's growth and success.
Seth Grae, President & Chief Executive Officer of Lightbridge, commented, We are grateful for Tom's extraordinary service as Chairman of Lightbridge. As he transitions to the role of Chairman Emeritus, we look forward to continuing to benefit from his wisdom and guidance. Tom's legacy is not only etched in the history of global arms control and non-proliferation but also deeply interwoven with the strides we've made in advancing nuclear energy. On behalf of everyone at Lightbridge, I extend our heartfelt thanks for his dedication and congratulate him on this well-deserved appointment.
Ambassador Thomas Graham Jr. boasts a distinguished career spanning several decades in the realm of arms control and non-proliferation, serving in pivotal roles within the U.S. Arms Control and Disarmament Agency from 1970 to 1997. Throughout his tenure, he was instrumental in every major arms control and non-proliferation negotiation the United States participated in, including the SALT I, SALT II, and START negotiations, alongside discussions on test bans, conventional armed forces in Europe, and chemical and biological weapons. Notably, he played a critical role in the successful conclusion of the Comprehensive Test Ban Treaty negotiations in 1996.
Appointed by President Clinton as Special Representative of the President for Arms Control, Non-Proliferation, and Disarmament in 1994, Graham led the successful U.S. efforts to indefinitely extend the Nuclear Non-Proliferation Treaty in Force. His expertise was also sought internationally, as evidenced by his advisory role in the United Arab Emirates' peaceful nuclear energy program from 2009 to 2016, aimed at upholding the highest standards of safety, security, non-proliferation, and sustainability.
An esteemed educator, Ambassador Graham has lectured at prestigious institutions, including Stanford University, the University of Virginia, and Georgetown University, and is an accomplished author of 13 books on arms control and nuclear power. His academic background includes an A.B. from Princeton University and a J.D. from Harvard Law School. His contributions to diplomacy and arms control have been recognized with numerous awards, including the Trainor Award for Distinction in Diplomacy from Georgetown University and the World Order under Law Award from the American Bar Association. From 2019 to 2024, he served as Co-chairman of the Nuclear Energy and National Security Coalition, further highlighting his ongoing influence in the field.
About¯Lightbridge Corporation Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential for delivering abundant, zero-emission, clean energy and providing energy security to the world. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and pressurized heavy water reactors, significantly enhancing reactor safety, economics, and proliferation resistance. The Company is also developing Lightbridge Fuel for new small modular reactors (SMRs) to bring the same benefits plus load-following with renewables on a zero-carbon electric grid.
Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance LLC, the United States Department of Energy's operating contractor for Idaho National Laboratory, the United States' lead nuclear energy research and development laboratory. DOE's Gateway for Accelerated Innovation in Nuclear program has twice awarded Lightbridge to support the development of Lightbridge Fuel over the past several years. Lightbridge is participating in two university-led studies through the DOE Nuclear Energy University Program at Massachusetts Institute of Technology and Texas A&M University. An extensive worldwide patent portfolio backs Lightbridge's innovative fuel technology. Lightbridge is included in the Russell Microcap ® Index. For more information, please visit www.ltbridge.com.
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Forward Looking Statements With the exception of historical matters, the matters discussed herein are forward-looking statements. 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: Lightbridge's ability to commercialize its nuclear fuel technology; the degree of market adoption of Lightbridge's product and service offerings; Lightbridge's ability to fund general corporate overhead and outside research and development costs; market competition; our ability to attract and retain qualified employees; dependence on strategic partners; demand for fuel for nuclear reactors; Lightbridge's ability to manage its business effectively in a rapidly evolving market; the availability of nuclear test reactors and the risks associated with unexpected changes in Lightbridge's fuel development timeline; the increased costs associated with metallization of Lightbridge's nuclear fuel; public perception of nuclear energy generally; changes in the political environment; risks associated with war in Europe; changes in the laws, rules and regulations governing Lightbridge's business; development and utilization of, and challenges to, Lightbridge's intellectual property; risks associated with potential shareholder activism; potential and contingent liabilities; as well as other factors described in Lightbridge's filings with the Securities and Exchange Commission (the SEC). Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise, except as required by law. Readers are cautioned not to put undue reliance on forward-looking statements.
A further description of risks and uncertainties can be found in Lightbridge's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and in its other filings with the SEC, including in the sections thereof captioned Risk Factors and Forward-Looking Statements, all of which are available at http://www.sec.gov/ and www.ltbridge.com.
Investor Relations Contact: Matthew Abenante, IRC Director of Investor RelationsTel: +1 (347) 947-2093ir@ltbridge.com
Source: Lightbridge Corporation