Lightbridge Joins With Vietnam's Engineering Consultant For Nuclear Project

(RTTNews) - Lightbridge Corp. (LTBR), a U.S. nuclear energy company, Friday announced that it has signed a a teaming agreement with Vietnam-based energy engineering consultant Power Engineering Consulting Joint Stock Company 1 or PECC1.

The deal is for consulting services related to construction and safe operation of a nuclear research reactor, which is planned as part of the country's Center for Nuclear Energy Science and Technology or CNEST. Financial terms are subject to further negotiation of the final scope of work.

Lightbridge, which provides comprehensive advisory services for established and emerging nuclear programs, noted that its agreement with PECC1 is separate from a five-year cooperation agreement signed earlier today by Lightbridge and the Vietnam Atomic Energy Institute or VINATOM.

The company noted that work under the five-year, Lightbridge/VINATOM agreement will support CNEST, Vietnam's nuclear science and technology center, a planned $500 million facility.

Lightbridge shares closed Thursday's trading at $1.96, up 10.74 percent.