Press Release

Lightbridge Corporation and Framatome Announce Settlement Agreement to Dissolve Enfission Joint Venture

March 22, 2021 | 1 min |
Category: fuel
Logo Lightbridge
 
RESTON, Va. – PARIS, France, March 22, 2021 (GLOBE NEWSWIRE) -- Lightbridge Corporation (NASDAQ: LTBR), an advanced nuclear fuel technology company, and Framatome, a leader in nuclear fuel, components and reactor services, today announced that they have reached a Settlement Agreement (the ‘Agreement’) that dissolves the Enfission joint venture.

As per the terms of the Agreement, Lightbridge and Framatome are each free to pursue their ongoing technology development without any constraints. Lightbridge has agreed to pay approximately $4.2 million, consisting of unpaid invoices and certain other costs incurred by Framatome. Framatome and Lightbridge retain all intellectual property rights to their respective background technology. The Agreement resolves all disputes between the companies and terminates all agreements pertaining to the joint venture.

 

About Framatome

Framatome is an international leader in nuclear energy recognized for its innovative solutions and value added technologies for the global nuclear fleet. With worldwide expertise and a proven track record for reliability and performance, the company designs, services and installs components, fuel, and instrumentation and control systems for nuclear power plants. Its more than 14,000 employees work every day to help Framatome’s customers supply ever cleaner, safer and more economical low-carbon energy.

Framatome is owned by the EDF Group (75.5%), Mitsubishi Heavy Industries (MHI – 19.5%) and Assystem (5%).