Lightbridge Corporation (LTBR) came further strengthening its intellectual portfolio. The company last month, for a divisional patent application, received a Notification of Patent Grant from the Korean Intellectual Property Office.
The application was related to a co-extrusion method to be used in manufacturing of company’s four-lobe helically twisted metallic fuel rods. The patent application was filed under 2011 Patent Cooperation Treaty (PCT).
The latest patent award around a method to manufacture our Lightbridge Fuel rods from the Korean Intellectual Property Office will further enhance the growth of company’s intellectual property portfolio in the country, said Seth Grae, company’s President and Chief Executive Officer. One third of South Korea’s electricity needs have currently been fulfilled by 24 reactors, which makes the market attractive to Lightbridge for its fuel.
Lightbridge has been operating in a sector where companies have now been in race to develop next generation of nuclear technologies. To better compete with major players like China and Russia, the United States has now been taking bold step. Those include financing, supporting and ramping up development and licensing of nuclear technologies.
The companies in the sectors are also in efforts to gain on others in development and deployment of innovative environment friendly nuclear technologies. Lightbridge will continue growing its patent portfolio worldwide as its priority strategy. This will help the company to get larger market share for its Lightbridge Fuel. And that will add value to the company and for the shareholders.
As part of its worldwide patent portfolio expansion strategy, Lightbridge come securing patents in different regions of the world over the past year. Those include Japan, Australia, Eurasia, European Union, South Korea and Canada.
The company considers its Lightbridge Fuel as a potential game-changer which could help countries and organizations to better control climate, security and energy issues. Lightbridge Fuel is aligned to compete in the ongoing global race for nuclear technology innovation.