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Lightbridge Corporation Appoints James P. Malone as Chief Nuclear Fuel Development Officer

/ Source: GlobeNewswire

MCLEAN, Va., Oct. 28, 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 that James P. Malone has joined the Company as Chief Nuclear Fuel Development Officer. Mr. Malone will manage the Company's day-to-day nuclear fuel design development efforts and will work closely with Lightbridge's senior management team to advance the company's proprietary fuel programs and bring added visibility with leading global nuclear interests.

In this role, Mr. Malone will develop strategies for the Company's fuel technology development and commercialization, and work closely with Andrey Mushakov, EVP, International Nuclear Operations, to execute these strategies. Mr. Malone will also serve as the Company's lead contact to nuclear fuel vendors and utilities.

 "Jim will play an instrumental role in supporting our ongoing efforts to bring to commercialization our all-metal and thorium nuclear fuels," said Seth Grae, CEO of Lightbridge. "Jim's depth of nuclear fuel development experience, and work with leading utilities, is extensive and brings an added dynamic to our fuel design development team. We're pleased that Jim has joined Lightbridge, and eager for him to apply his industry perspective with an eye on advancing our core capabilities."  

 "I have known Seth and the Lightbridge management and advisory teams for many years. I've been impressed by the recent developments on the fuel design side of the business, including its work with all-metal nuclear fuel. The Company's strong technological position, growth on the consulting side of the business, and strengthened presence as a leading voice and proponent of nuclear energy all were contributing factors to my joining Lightbridge," added James Malone. "I look forward to getting to work and helping the Company move along the fuel design development process toward future commercialization." 

Mr. Malone brings to Lightbridge more than 40 years of experience in the development and commercialization of nuclear fuels. Before joining Lightbridge, he was Vice President, Nuclear Fuels at Exelon Generation Company, where he led the strategic direction and tactical guidance for the Company's nuclear fuel cycle activities. In this role, he managed the procurement (uranium, conversion, enrichment, and fuel fabrication) for 17 operating nuclear reactors—PWRs and BWRs—and his expertise guided the management of spent fuel.

Prior to that, Mr. Malone served for ten years as vice president and senior consultant at NAC International, where he consulted on fuel reliability and the front and back ends of the nuclear fuel cycle, among other issues. Mr. Malone has also held positions at SWUCO and Yankee Atomic and began his career in the utility reactor core analysis section of the Nuclear Engineering Department of United Nuclear Corporation. Mr. Malone has also testified before the U.S. Senate on important international nuclear fuel and nuclear non-proliferation matters.  

Mr. Malone holds a M.B.A. from Iona College and a B.S. in Nuclear Engineering from Manhattan College. He also is a member of the American Nuclear Society.

About Lightbridge Corporation

Lightbridge is a U.S. nuclear energy company based in McLean, VA. with operations in Abu Dhabi, Moscow and London. The Company develops non-proliferative nuclear fuel technology and provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. Lightbridge's breakthrough fuel technology is establishing new global standards for safe and clean nuclear power and leading the way towards a sustainable energy future. Lightbridge consultants provide integrated strategic advice and expertise across a range of disciplines including regulatory affairs, nuclear reactor procurement and deployment, reactor and fuel technology and international relations. It leverages those broad and integrated capabilities by offering their services to commercial entities and governments with a need to establish or expand nuclear industry capabilities and infrastructure.

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CONTACT: Ogilvy Public Relations Greg Jawski (212)-880-5353