Enfission Appoints Eugene Dongweck, Jr. as Chief Financial Officer

Enfission LLC, a joint venture of Lightbridge Corporation (NASDAQ: LTBR) and Framatome, today announced the appointment of Eugene Dongweck, Jr., CPA, as Chief Financial Officer.

Prior to joining Enfission, Mr. Dongweck held a variety of senior roles at Framatome, and currently serves as Manager of Financial Planning and Analysis. In this role, Mr. Dongweck is responsible for the fuel business unit’s budgeting and analysis, implementing internal controls, and overseeing financial reporting. He also serves as financial manager for the Government Contract Group where he oversees compliance and government reporting responsibilities, including interfacing with the Defense Contract Audit Agency of the U.S. government.  Previously, Mr. Dongweck served as Audit Manager and Senior Accountant at Deloitte, an industry-leading audit, consulting, tax, and advisory firm, where he oversaw client audits, SEC reporting, and analysis of internal controls. Mr. Dongweck is a Certified Public Accountant and has a B.S. Degree in Business Administration with a concentration in accounting and finance from Robert Morris University.

Seth Grae, Chief Executive Officer of Enfission, stated, “We are pleased to welcome Gene to the Enfission team as Chief Financial Officer. He brings over two decades of experience in the nuclear sector, having served in senior finance roles with Framatome. Moreover, he brings tremendous compliance and governmental experience, which will be valuable as we advance our activities with the Nuclear Regulatory Commission, the Department of Energy and major utilities.  I would also like to thank Rodney Bradley, our former Chief Financial Officer, for his enormous contributions since we launched Enfission just over a year ago.  We wish him well in his new role as CFO of Framatome’s global fuel business unit.”

Mr. Dongweck, commented, “I am delighted to join Enfission during this exciting time, as we advance towards commercialization of the Lightbridge Fuel™ technology.  I look forward to further building the financial infrastructure to support Enfission’s regulatory, manufacturing, grant-related, and commercial activities.”

About Enfission

Enfission is a US-based 50-50 joint venture between Lightbridge Corporation and Framatome. Enfission  was established January 25, 2018 to complete the development, regulatory licensing, and commercial deployment worldwide of nuclear fuel assemblies based on multi-lobe metallic twisted fuel technology. Enfission will produce Lightbridge Fuel™ assemblies initially for operators of U.S. commercial nuclear power plants, then follow with production of Lightbridge Fuel™ assemblies for other types of reactors and for markets around the world.

Enfission Contact:

David Waldman/Natalya Rudman Tel. [phone]