The company is developing and commercializing next generation nuclear fuel technology aimed to improve the safety and economics of existing and new pressurized light water reactors.
The equivalent patent applications have been filed by the company and are due to be approved in other countries in Europe and Asia.
Lightbridge president and chief executive officer Seth Grae said the approval is another major milestone in the development of Lightbridge’s fuel assembly designs.
"This new patent is the Australian counterpart to our U.S. patent issued in February, and helps protect Lightbridge technology at a key juncture in the projected growth of the global commercial nuclear energy market," Grae added.
Lightbridge chief nuclear fuel development officer James Malone said the unique metallic fuel technology of the company presents a compelling value proposition to a growing global industry.
"Our patented metallic fuel rod design offers increased structural integrity and improved heat transfer while operating at nearly 1,000ºC cooler than conventional rods," Malone added.
"It will deliver 10% to 17% more power from existing light water reactors and longer fuel cycles to nuclear utilities. These benefits will enhance safety, increase revenue and improve operating margins for both existing power units and new-build commercial reactors."
