US-based Lightbridge Corporation and France’s Framatome announced on 22 March that they have reached a Settlement Agreement that dissolves the Enfission joint venture. Under 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.
Lightbridge and Framatome launched Enfission in January 2018 as a 50-50 joint venture company to develop, license and sell nuclear fuel assemblies. The two companies had already begun joint fuel development and regulatory licensing work under previously signed agreements initiated in 2016. The joint venture was a Delaware-based limited liability company.