Latest news with #Lightbridge
Business Upturn
2 days ago
- Business
- Business Upturn
Lightbridge to Participate in Nuclear Energy Summit in Zurich, Switzerland
By GlobeNewswire Published on June 24, 2025, 01:05 IST RESTON, Va., June 23, 2025 (GLOBE NEWSWIRE) — Lightbridge Corporation (Nasdaq: LTBR), a leader in advanced nuclear fuel technology, today announced that Seth Grae, President & Chief Executive Officer, will participate as a panelist at the Nuclear Energy Summit taking place on Friday, June 27, 2025, at The Dolder Grand in Zurich, Switzerland. The Nuclear Energy Summit, hosted by Arnova Capital AG, brings together leading industry executives, policymakers, and investors to discuss the latest developments in nuclear energy technology, uranium production, reactor development, and investment opportunities in the nuclear sector. Mr. Grae will participate in two panel discussions during the summit. He will join 'The Fuel: Uranium Production and Refinement' panel, moderated by Pendo S. Löfgren, Co-Founder of Arnova Capital AG, and 'The Future of Nuclear Energy' panel, moderated by Roger Köppel, Editor-in-Chief of Weltwoche, Switzerland. For more information about the Nuclear Energy Summit, visit About Lightbridge Corporation Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential for delivering abundant, zero-emission, clean energy and providing energy security to the world. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and pressurized heavy water reactors, significantly enhancing reactor safety, economics, and proliferation resistance. The Company is also developing Lightbridge Fuel for new small modular reactors (SMRs) to bring the same benefits plus load-following with renewables on a zero-carbon electric grid. Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance LLC, the United States Department of Energy's operating contractor for Idaho National Laboratory, the United States' lead nuclear energy research and development laboratory. DOE's Gateway for Accelerated Innovation in Nuclear program has twice awarded Lightbridge to support the development of Lightbridge Fuel over the past several years. Lightbridge is participating in two university-led studies through the DOE Nuclear Energy University Program at Massachusetts Institute of Technology and Texas A&M University. An extensive worldwide patent portfolio backs Lightbridge's innovative fuel technology. Lightbridge is included in the Russell Microcap® Index. For more information, please visit To receive Lightbridge Corporation updates via e-mail, subscribe at Lightbridge is on YouTube. Subscribe to access past demonstrations, interviews, and other video content at Lightbridge is on X (formerly Twitter). Sign up to follow @LightbridgeCorp at . Forward Looking Statements With the exception of historical matters, the matters discussed herein are forward-looking statements. These statements are based on current expectations on the date of this news release and involve a number of risks and uncertainties that may cause actual results to differ significantly from such estimates. The risks include, but are not limited to: Lightbridge's ability to commercialize its nuclear fuel technology; the degree of market adoption of Lightbridge's product and service offerings; Lightbridge's ability to fund general corporate overhead and outside research and development costs; market competition; our ability to attract and retain qualified employees; dependence on strategic partners; demand for fuel for nuclear reactors; Lightbridge's ability to manage its business effectively in a rapidly evolving market; the availability of nuclear test reactors and the risks associated with unexpected changes in Lightbridge's fuel development timeline; the increased costs associated with metallization of Lightbridge's nuclear fuel; public perception of nuclear energy generally; changes in the political environment; risks associated with war in Europe; changes in the laws, rules and regulations governing Lightbridge's business; development and utilization of, and challenges to, Lightbridge's intellectual property; risks associated with potential shareholder activism; potential and contingent liabilities; as well as other factors described in Lightbridge's filings with the Securities and Exchange Commission (the 'SEC'). Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise, except as required by law. Readers are cautioned not to put undue reliance on forward-looking statements. A further description of risks and uncertainties can be found in Lightbridge's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in its other filings with the SEC, including in the sections thereof captioned 'Risk Factors' and 'Forward-Looking Statements', all of which are available at and . Investor Relations Contact: Matthew Abenante, IRC Director of Investor Relations Tel: +1 (347) 947-2093 [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
03-06-2025
- Business
- Yahoo
Lightbridge Expects to Benefit from Advanced Expedited Testing Method in its Planned Irradiation Testing in the Advanced Test Reactor
RESTON, Va., June 03, 2025 (GLOBE NEWSWIRE) -- Lightbridge Corporation (Nasdaq: LTBR), a leader in advanced nuclear fuel technology, today announced it expects to benefit from a groundbreaking testing method developed by Idaho National Laboratory (INL), known as the Fission Accelerated Steady-state Test (FAST). This pioneering method utilizes increased enrichment levels to expedite the irradiation testing of fuel samples in the Advanced Test Reactor (ATR). Use of Highly Enriched Uranium (HEU) in private sector fuel testing is exceedingly rare. HEU, defined as uranium enriched to 20% or more uranium-235, is tightly controlled and legally accessible only through government-operated facilities. The enrichments in the 26-30% range for each set of Lightbridge coupon samples were selected to yield the required linear heat generation rates based on the specific core position within the Advanced Test Reactor where the experiment is planned to be inserted for irradiation testing. 'Lightbridge is thrilled to benefit from the FAST method at INL,' said Dr. Scott Holcombe, Vice President of Engineering at Lightbridge. 'This advanced technique enables achieving burnup targets faster than using conventional testing methods, which means we can acquire necessary performance data in an accelerated time frame.' The planned irradiation testing program, along with post-irradiation examination activities (the scope of which will be detailed in a future Project Task Statement), is aimed at generating critical irradiation performance data for Lightbridge's advanced fuel. This data will play a key role in supporting the company's regulatory licensing through the U.S. Nuclear Regulatory Commission (NRC) and the company expects this data to contribute to streamlined, expedited licensing under the ADVANCE Act. The company also expects to share this data with utilities to assist in their analyses of Lightbridge Fuel for use in commercial nuclear power plants. Seth Grae, CEO of Lightbridge, added: 'We are grateful to the U.S. Department of Energy (DOE) for providing the HEU and to INL and DOE for enabling Lightbridge fuel material samples to be tested using this innovative FAST method. It reflects the importance of strong public-private partnerships in advancing clean energy technologies. This is an excellent example of the U.S. government using its advanced technologies and resources, particularly HEU and the Advanced Test Reactor, to support commercialization of advanced nuclear fuel technologies potentially on accelerated timelines.' This work is conducted under an existing Cooperative Research and Development Agreement (CRADA) between Lightbridge and Idaho National Laboratory. More details on FAST can be found at: • • About Idaho National LaboratoryBattelle Energy Alliance manages INL for the U.S. Department of Energy's Office of Nuclear Energy. INL is the nation's center for nuclear energy research and development, and also performs research in each of DOE's strategic goal areas: energy, national security, science and the environment. For more information, visit Follow us on social media: Facebook, Instagram, LinkedIn and X. About Lightbridge Corporation Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential for delivering abundant, zero-emission, clean energy and providing energy security to the world. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and pressurized heavy water reactors, significantly enhancing reactor safety, economics, and proliferation resistance. The Company is also developing Lightbridge Fuel for new small modular reactors (SMRs) to bring the same benefits plus load-following with renewables on a zero-carbon electric grid. Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance LLC, the United States Department of Energy's operating contractor for Idaho National Laboratory, the United States' lead nuclear energy research and development laboratory. DOE's Gateway for Accelerated Innovation in Nuclear program has twice awarded Lightbridge to support the development of Lightbridge Fuel over the past several years. Lightbridge is participating in two university-led studies through the DOE Nuclear Energy University Program at Massachusetts Institute of Technology and Texas A&M University. An extensive worldwide patent portfolio backs Lightbridge's innovative fuel technology. Lightbridge is included in the Russell Microcap® Index. For more information, please visit To receive Lightbridge Corporation updates via e-mail, subscribe at Lightbridge is on YouTube. Subscribe to access past demonstrations, interviews, and other video content at Lightbridge is on X (formerly Twitter). Sign up to follow @LightbridgeCorp at Forward Looking Statements With the exception of historical matters, the matters discussed herein are forward-looking statements. These statements are based on current expectations on the date of this news release and involve a number of risks and uncertainties that may cause actual results to differ significantly from such estimates. The risks include, but are not limited to: Lightbridge's ability to commercialize its nuclear fuel technology; the degree of market adoption of Lightbridge's product and service offerings; Lightbridge's ability to fund general corporate overhead and outside research and development costs; market competition; our ability to attract and retain qualified employees; dependence on strategic partners; demand for fuel for nuclear reactors; Lightbridge's ability to manage its business effectively in a rapidly evolving market; the availability of nuclear test reactors and the risks associated with unexpected changes in Lightbridge's fuel development timeline; the increased costs associated with metallization of Lightbridge's nuclear fuel; public perception of nuclear energy generally; changes in the political environment; risks associated with war in Europe; changes in the laws, rules and regulations governing Lightbridge's business; development and utilization of, and challenges to, Lightbridge's intellectual property; risks associated with potential shareholder activism; potential and contingent liabilities; as well as other factors described in Lightbridge's filings with the Securities and Exchange Commission (the 'SEC'). Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise, except as required by law. Readers are cautioned not to put undue reliance on forward-looking statements. A further description of risks and uncertainties can be found in Lightbridge's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in its other filings with the SEC, including in the sections thereof captioned 'Risk Factors' and 'Forward-Looking Statements', all of which are available at and Investor Relations Contact: Matthew Abenante, IRC Director of Investor Relations Tel: +1 (347) 947-2093 ir@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Lightbridge Outlines Opportunities Created by President Trump's Nuclear Executive Orders
RESTON, Va, May 27, 2025 (GLOBE NEWSWIRE) -- Lightbridge Corporation ('Lightbridge' or the 'Company') (Nasdaq: LTBR), an advanced nuclear fuel technology company, today announced how President Trump's recent nuclear energy Executive Orders (the 'Executive Orders') create opportunities for the company's advanced fuel technology and business strategy. On May 23, 2025, President Trump signed four Executive Orders representing the most significant policy shift toward nuclear energy in decades. These executive orders include provisions that we believe align closely with Lightbridge's technology capabilities and position as an American nuclear fuel technology company. The most relevant provisions for Lightbridge come from the executive order "Reinvigorating the Nuclear Industrial Base," which directs the Department of Energy to prioritize work with the nuclear energy industry to facilitate power uprates to existing reactors. To date, according to the U.S. Nuclear Regulatory Commission, U.S. nuclear power plants have added approximately 8 GWe of additional generating capacity via power uprates, primarily through measurement uncertainty recapture and stretch power uprates. We believe that Lightbridge Fuel™ will be able to provide additional power uprate opportunities to existing nuclear power plants. We believe enabling power uprates of up to 17% in existing reactors is one of Lightbridge Fuel's most value-adding capabilities. We may not meet the executive order's goal of adding five gigawatts of power uprates to existing reactors by 2030. Still, this direct policy support for power uprates aligns with the objectives of Lightbridge. Utilities seeking to implement power uprates will need cost-effective, safety-enhancing solutions. We believe Lightbridge Fuel is well-positioned to meet these requirements. The Executive Orders also create new opportunities in the national security sector. As Lightbridge President and CEO Seth Grae noted in a Friday interview with Barron's following the signing ceremony, "The ability to build reactors on military bases could be a plus. If the federal government is the customer, the process of building a reactor would likely be faster" and "with the military as a customer, they could expedite orders." We believe that Lightbridge Fuel's enhanced safety and performance characteristics make it well-suited for highly reliable power applications, including military installations and critical infrastructure. The Executive Orders frame nuclear energy as essential for "a global race to dominate in artificial intelligence" and "access to uninterruptible power supplies for national security." This positioning could open new market segments beyond traditional utility applications, including dedicated nuclear power supply at or near data center locations. The Executive Orders emphasize "maximizing the efficiency and effectiveness of nuclear fuel through recycling, reprocessing, and reinvigorating the commercial sector." We believe provisions supporting plutonium disposition in reactor fuel could present another opportunity for Lightbridge. The Executive Orders establish promising funding opportunities. According to the Executive Orders, the Department of Energy's Loan Programs Office will prioritize nuclear power projects. At the same time, federal funding will also be directed toward companies demonstrating the largest degrees of design and technological maturity, financial backing, and potential for near-term deployment. Procurement support, forward contracts, and guarantees are authorized for domestic fuel supply. We believe Lightbridge is well-positioned to seek funding opportunities facilitated by this Executive Order. Together, the May 23, 2025 Executive Orders and strong bipartisan support for nuclear power in Congress present a highly favorable political environment for Lightbridge. We expect that the alignment between the Company's capabilities—particularly Lightbridge Fuel's power uprate potential and enhanced safety features—and the policy directives may create opportunities for accelerated progress. About Lightbridge Corporation Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential for delivering abundant, zero-emission, clean energy and providing energy security to the world. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and pressurized heavy water reactors, significantly enhancing reactor safety, economics, and proliferation resistance. The Company is also developing Lightbridge Fuel for new small modular reactors to bring the same benefits plus load-following with renewables on a zero-carbon electric grid. Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance LLC, the United States Department of Energy's operating contractor for Idaho National Laboratory, the United States' lead nuclear energy research and development laboratory. DOE's Gateway for Accelerated Innovation in Nuclear program has twice awarded Lightbridge to support the development of Lightbridge Fuel over the past several years. Lightbridge is participating in two university-led studies through the DOE Nuclear Energy University Program at Massachusetts Institute of Technology and Texas A&M University. An extensive worldwide patent portfolio backs Lightbridge's innovative fuel technology. Lightbridge is included in the Russell Microcap® Index. For more information, please visit To receive Lightbridge Corporation updates via e-mail, subscribe at Lightbridge is on YouTube. Subscribe to access past demonstrations, interviews, and other video content at Lightbridge is on X (formerly Twitter). Sign up to follow @LightbridgeCorp at Forward Looking Statements With the exception of historical matters, the matters discussed herein are forward-looking statements. These statements are based on current expectations on the date of this news release and involve a number of risks and uncertainties that may cause actual results to differ significantly from such estimates. The risks include, but are not limited to: Lightbridge's ability to commercialize its nuclear fuel technology; the degree of market adoption of Lightbridge's product and service offerings; Lightbridge's ability to fund general corporate overhead and outside research and development costs; market competition; our ability to attract and retain qualified employees; dependence on strategic partners; demand for fuel for nuclear reactors; Lightbridge's ability to manage its business effectively in a rapidly evolving market; the availability of nuclear test reactors and the risks associated with unexpected changes in Lightbridge's fuel development timeline; the increased costs associated with metallization of Lightbridge's nuclear fuel; public perception of nuclear energy generally; changes in the political environment; risks associated with war in Europe; changes in the laws, rules and regulations governing Lightbridge's business; development and utilization of, and challenges to, Lightbridge's intellectual property; risks associated with potential shareholder activism; potential and contingent liabilities; as well as other factors described in Lightbridge's filings with the Securities and Exchange Commission (the 'SEC'). Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise, except as required by law. Readers are cautioned not to put undue reliance on forward-looking statements. A further description of risks and uncertainties can be found in Lightbridge's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in its other filings with the SEC, including in the sections thereof captioned 'Risk Factors' and 'Forward-Looking Statements,' all of which are available at and Investor Relations Contact: Matthew Abenante, IRC Director of Investor Relations Tel: +1 (347) 947-2093 ir@ Sign in to access your portfolio
Yahoo
12-05-2025
- Business
- Yahoo
Lightbridge Provides Business Update and Announces First Quarter 2025 Financial Results
RESTON, Va., May 12, 2025 (GLOBE NEWSWIRE) -- Lightbridge Corporation ('Lightbridge' or the 'Company') (Nasdaq: LTBR), an advanced nuclear fuel technology company, announced its financial results for the first quarter ended March 31, 2025, and provided an update on the Company's continued progress. Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, 'In the first quarter, we reached a significant milestone in our fuel development program with the successful co-extrusion demonstration of a depleted uranium-zirconium alloy coupon sample with zirconium alloy cladding at Idaho National Laboratory. This achievement under our Strategic Partnership Project Agreement with Battelle Energy Alliance represents a critical fabrication advancement for Lightbridge Fuel™. It establishes the foundation for future production of enriched uranium samples for irradiation testing in INL's Advanced Test Reactor.' 'Our strategic vision continues to expand with the January 2025 memorandum of understanding with Oklo, exploring potential synergies in fuel fabrication facilities, reprocessing, and recycling of spent uranium-zirconium fuel. As global demand for reliable energy accelerates, particularly from data centers supporting AI technologies and industries seeking to decarbonize, Lightbridge is uniquely positioned to address these needs. Lightbridge Fuel can deliver more power and major economic and safety benefits for existing and new reactors, including water-cooled small modular reactors. This innovation supports the U.S. commitment to triple nuclear power capacity globally by 2050, potentially enabling nuclear to grow from its current 19% share of U.S. electricity to over 50% by mid-century. Through our ongoing collaboration with the Department of Energy's national laboratories and strategic industry partnerships, we are advancing toward delivering more power for a cleaner energy future,' concluded Mr. Grae. Financial Highlights Working capital was $56.5 million at March 31, 2025, compared to $39.9 million at December 31, 2024. Cash Flows Summary Cash and cash equivalents were $56.9 million, compared to $40.0 million at December 31, 2024, an increase of $16.9 million for the first quarter ended March 31, 2025, consisting of the following: Cash used in operating activities for the first quarter ended March 31, 2025 was $3.3 million, an increase of $1.4 million compared to $1.9 million for the first quarter ended March 31, 2024. The increase was primarily due to increased spending on research and development (R&D) and general and administrative expenses. Cash provided by financing activities for the first quarter ended March 31, 2025 was $20.2 million, an increase of $19.0 million compared to $1.2 million for the first quarter ended March 31, 2024. This increase was primarily due to an increase in the net proceeds received from the issuance of common stock under our at-the-market facility. Balance Sheet Summary Total assets were $58.3 million and total liabilities were $1.0 million at March 31, 2025. Stockholders' equity was $57.3 million at March 31, 2025, as compared to $40.5 million at December 31, 2024. Operations Summary General and administrative expenses amounted to $3.5 million for the first quarter ended March 31, 2025, compared to $2.2 million for the first quarter ended March 31, 2024. The increase of $1.3 million was primarily due to an increase in employee compensation and employee benefits of $0.2 million, an increase in consulting fees of $0.1 million, an increase in professional fees of $0.4 million, and an increase in stock-based compensation of $0.7 million primarily due to the accelerated vesting of restricted stock awards issued to a former employee of $0.5 million, partially offset by a decrease in information technology and recruitment expenses of $0.1 million. Lightbridge's total R&D expenses amounted to $1.7 million for the first quarter ended March 31, 2025, compared to $1.0 million for the first quarter ended March 31, 2024, an increase of $0.7 million. This increase was primarily due to an increase in INL project labor costs of $0.4 million, and an increase in allocated employee compensation and employee benefits and stock-based compensation expenses of $0.6 million, partially offset by a decrease in R&D expenses of $0.3 million due to two completed R&D studies in 2024. Total other income was $0.4 million for the first quarters ended March 31, 2025 and 2024. Other income consisted of interest income earned from the purchase of treasury bills and from our bank savings account. Net loss was $4.8 million for the first quarter ended March 31, 2025, compared to $2.8 million for the first quarter ended March 31, 2024. CONFERENCE CALL & AUDIO WEBCAST Lightbridge will host a conference call later today at 4:00 p.m. ET to discuss the Company's financial results and provide an update on its fuel development activities. The conference call will be led by Seth Grae, President & Chief Executive Officer, with other Lightbridge executives available to answer questions. To access the call by phone, please register using this link (registration link), and you will be provided with dial-in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes before the scheduled start time. The webcast can be accessed at the following link (webcast). A webcast replay will also be available for a limited time at the following link (webcast replay). About Lightbridge Corporation Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential for delivering abundant, zero-emission, clean energy and providing energy security to the world. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and pressurized heavy water reactors, significantly enhancing reactor safety, economics, and proliferation resistance. The Company is also developing Lightbridge Fuel for new small modular reactors to bring the same benefits plus load-following with renewables on a zero-carbon electric grid. Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance LLC, the United States Department of Energy's operating contractor for Idaho National Laboratory, the United States' lead nuclear energy research and development laboratory. DOE's Gateway for Accelerated Innovation in Nuclear program has twice awarded Lightbridge to support the development of Lightbridge Fuel over the past several years. Lightbridge is participating in two university-led studies through the DOE Nuclear Energy University Program at Massachusetts Institute of Technology and Texas A&M University. An extensive worldwide patent portfolio backs Lightbridge's innovative fuel technology. Lightbridge is included in the Russell Microcap® Index. For more information, please visit To receive Lightbridge Corporation updates via e-mail, subscribe at Lightbridge is on YouTube. Subscribe to access past demonstrations, interviews, and other video content at Lightbridge is on X (formerly Twitter). Sign up to follow @LightbridgeCorp at Forward Looking Statements With the exception of historical matters, the matters discussed herein are forward-looking statements. These statements are based on current expectations on the date of this news release and involve a number of risks and uncertainties that may cause actual results to differ significantly from such estimates. The risks include, but are not limited to: Lightbridge's ability to commercialize its nuclear fuel technology; the degree of market adoption of Lightbridge's product and service offerings; Lightbridge's ability to fund general corporate overhead and outside research and development costs; market competition; our ability to attract and retain qualified employees; dependence on strategic partners; demand for fuel for nuclear reactors; Lightbridge's ability to manage its business effectively in a rapidly evolving market; the availability of nuclear test reactors and the risks associated with unexpected changes in Lightbridge's fuel development timeline; the increased costs associated with metallization of Lightbridge's nuclear fuel; public perception of nuclear energy generally; changes in the political environment; risks associated with war in Europe; changes in the laws, rules and regulations governing Lightbridge's business; development and utilization of, and challenges to, Lightbridge's intellectual property; risks associated with potential shareholder activism; potential and contingent liabilities; as well as other factors described in Lightbridge's filings with the Securities and Exchange Commission (the 'SEC'). Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise, except as required by law. Readers are cautioned not to put undue reliance on forward-looking statements. A further description of risks and uncertainties can be found in Lightbridge's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in its other filings with the SEC, including in the sections thereof captioned 'Risk Factors' and 'Forward-Looking Statements,' all of which are available at and Investor Relations Contact: Matthew Abenante, IRC Director of Investor Relations Tel: +1 (347) 947-2093 ir@ LIGHTBRIDGE CORPORATIONUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2025 2024 ASSETS Current Assets Cash and cash equivalents $ 56,929,988 $ 39,990,827 Prepaid expenses and other current assets 546,267 324,378 Total Current Assets 57,476,255 40,315,205 Other Assets Prepaid project costs and other long-term assets 702,562 528,805 Trademarks 108,865 108,865 Total Assets $ 58,287,682 $ 40,952,875 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 966,209 $ 424,585 Total Current Liabilities 966,209 424,585 Stockholders' Equity Preferred stock, $0.001 par value, 10,000,000 authorized shares, 0 shares issued and outstanding at March 31, 2025 and December 31, 2024 — — Common stock, $0.001 par value, 25,000,000 authorized, 21,557,343 shares and 18,783,912 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 21,557 18,784 Additional paid-in capital 226,255,770 204,694,348 Accumulated deficit (168,955,854 ) (164,184,842 ) Total Stockholders' Equity 57,321,473 40,528,290 Total Liabilities and Stockholders' Equity $ 58,287,682 $ 40,952,875 LIGHTBRIDGE CORPORATIONUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended March 31, 2025 2024 Revenue $ — $ — Operating Expenses General and administrative 3,480,010 2,157,745 Research and development 1,665,913 1,023,823 Total Operating Expenses 5,145,923 3,181,568 Operating Loss (5,145,923 ) (3,181,568 ) Other Income Interest income 374,911 361,984 Total Other Income 374,911 361,984 Net Loss Before Income Taxes (4,771,012 ) (2,819,584 ) Income taxes — — Net Loss $ (4,771,012 ) $ (2,819,584 ) Net Loss Per Common Share Basic and diluted $ (0.24 ) $ (0.21 ) Weighted Average Number of Common Shares Outstanding 19,547,312 13,491,954 LIGHTBRIDGE CORPORATIONUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Three Months EndedMarch 31, 2025 2024 Operating Activities Net Loss $ (4,771,012 ) $ (2,819,584 ) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 1,355,181 456,904 Changes in operating assets and liabilities: Prepaid expenses and other current assets (266,889 ) (194,796 ) Prepaid project costs and other long-term assets (173,757 ) 3,375 Accounts payable and accrued liabilities 556,624 676,095 Net Cash Used in Operating Activities (3,299,853 ) (1,878,006 ) Net Cash Used in Investing Activities — — Financing Activities Net proceeds from the issuances of common stock 20,213,195 1,221,982 Net proceeds from the exercise of stock options 220,697 — Payments for taxes related to net share settlement of equity awards (194,878 ) — Net Cash Provided by Financing Activities 20,239,014 1,221,982 Net Increase (Decrease) in Cash and Cash Equivalents 16,939,161 (656,024 ) Cash and Cash Equivalents, Beginning of Period 39,990,827 28,598,445 Cash and Cash Equivalents, End of Period $ 56,929,988 $ 27,942,421 Supplemental Disclosure of Cash Flow Information Cash paid during the period: Interest paid $ — $ — Income taxes paid $ — $ — Non-Cash Financing Activities: Payment of accrued liabilities with common stock $ 15,000 $ 15,000 This press release was published by a CLEAR® Verified in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-05-2025
- Business
- Yahoo
Lightbridge Executive Vice President Dr. Andrey Mushakov Appointed to U.S. Nuclear Industry Council Board of Directors
Lightbridge Corporation RESTON, Va., May 06, 2025 (GLOBE NEWSWIRE) -- May 6, 2025 – Lightbridge Corporation (Nasdaq: LTBR), a leader in advanced nuclear fuel technology, today announced that Dr. Andrey Mushakov, Executive Vice President for Nuclear Operations, has been appointed to the Board of Directors of the U.S. Nuclear Industry Council (USNIC), the leading U.S. business consortium advocate for nuclear energy and promotion of the American supply chain globally. Dr. Mushakov's appointment to the USNIC Board of Directors will enhance the Company's ability to collaborate with key stakeholders in advancing nuclear technology innovation. As a board member, Dr. Mushakov will contribute to USNIC's efforts in shaping policies that support the development and deployment of advanced nuclear technologies, including next-generation fuels like Lightbridge Fuel™. Seth Grae, President and CEO of Lightbridge, commented: "We are proud to have Andrey represent Lightbridge on the USNIC Board of Directors. His expertise in nuclear fuel technology and deep understanding of the industry will be valuable assets to the Council as it works to advance nuclear energy in the United States and globally. This appointment reflects the growing recognition of Lightbridge's innovative nuclear fuel technology and our role in shaping the future of clean energy." Dr. Andrey Mushakov added: "I am honored to join the USNIC Board of Directors and look forward to working with fellow board members to promote the vital role of nuclear energy in addressing energy security challenges. This opportunity aligns with Lightbridge's ongoing efforts to develop and commercialize advanced nuclear fuel technology designed to enhance the safety, economics, and performance of nuclear energy which is essential to power data centers and fuel the growth of AI-driven economy" About the U.S. Nuclear Industry Council The United States Nuclear Industry Council (USNIC) is the leading U.S. business consortium advocate for nuclear energy and promotion of the American supply chain globally. USNIC represents approximately 80 companies engaged in nuclear innovation and supply chain development, including technology developers, manufacturers, construction engineers, key utility movers, and service providers. USNIC's educational programs, industry insights, and market intelligence bring together strategic nuclear industry leaders to help the American nuclear industry succeed in the domestic and global markets. About Lightbridge Corporation Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential for delivering abundant, zero-emission, clean energy and providing energy security to the world. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and pressurized heavy water reactors, significantly enhancing reactor safety, economics, and proliferation resistance. The Company is also developing Lightbridge Fuel for new small modular reactors (SMRs) to bring the same benefits plus load-following with renewables on a zero-carbon electric grid.
