Lightbridge Corp (LTBR) Starts 2018 With a Rally; Here’s Why
Lightbridge Corp (NASDAQ:LTBR) starts 2018 on solid footing, with shares up 140%, making the stock one of Wall Street’s biggest bulls.
Today, Lightbridge shares are skyrocketing over 45% to trade at $3.15, after the nuclear fuel development company has launched a new joint venture company with Framatome. It will aim to develop, license and sell nuclear fuel assemblies based on Lightbridge-designed metallic fuel technology and other advanced nuclear fuel intellectual property.
The two companies already began joint fuel development and regulatory licensing work under previously signed agreements initiated in March 2016. The joint venture is a Delaware-based limited liability company.
Bernard Fontana, Chairman of the Managing Board and CEO of Framatome, said, “This is an exciting time of growth for Framatome and we are proud to work with Lightbridge on Enfission. Together, we are developing an innovative fuel technology that will provide significant benefits for our customers, helping them to generate more electricity from their nuclear power plants and better compete in the marketplace. Framatome provides its next generation of fuel assembly designs to more than 100 of the approximately 260 light water reactors worldwide. Through this work, we help our customers to meet their operational goals with a high level of safety. We are confident that our strategic partnership with Lightbridge on Enfission will strengthen our position as a key international player in the global fuel market.”
Seth Grae, Lightbridge president and CEO, said, “With the world calling for more reliable, economic and carbon-free baseload power, Lightbridge’s innovative metallic fuel technology will help both existing and new nuclear plants fill that need. Framatome is the ideal partner with established manufacturing capabilities, an impeccable reputation as a nuclear fuel supplier and a large global footprint. We appreciate the strong support we have already received from the leading nuclear operators, both in the U.S. and around the world. The world’s energy and climate needs can only be met if nuclear power grows as a part of the energy-generating mix. We are honored to work with Framatome on this important project and believe the economic and safety benefits of our fuel will encourage greater use of nuclear power.”
Lightbridge is a nuclear fuel technology development company, which develops and commercializes next generation nuclear fuel technologies. The company operates through the following segments: Nuclear Fuel Technology and Nuclear Energy Consulting. The Nuclear Fuel Technology segment develops next generation nuclear fuel technology that increases the power output of commercial reactors and reduces the cost of generating electricity. The Nuclear Energy Consulting segment provides nuclear power consulting and strategic advisory services to the commercial and governmental entities worldwide.