Lightbridge enters initial releases with Idaho National Lab for fuel fabrication and irradiation; $3.4M over 4 years

LIGHTBRIDGE Corp

Initial releases under umbrella SPPA and CRADA with Battelle/INL to develop Lightbridge Fuel™.
Scope: fabricate delta-phase enriched U-Zr alloy ingot, extrude fuel coupons, irradiate in Advanced Test Reactor.
Lightbridge reimburses Battelle costs; DOE/Battelle contribute uranium feedstocks and irradiation hardware.
Estimated cash payments to Battelle ~$3.4M (excl. contingencies) over four years on cost-reimbursable basis.
Agreements have initial term of seven years from September 27, 2022.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LIGHTBRIDGE Corp entered into a collaboration with Battelle Energy Alliance, LLC valued at approximately $3.4 million (effective 2022-12-09).

Action: entry
Agreement: collaboration
Counterparty: Battelle Energy Alliance, LLC
Value: approximately $3.4 million
Effective: 2022-12-09

Exact text from the filing

On December 9, 2022, Lightbridge Corporation (“Lightbridge” or the “Company”) entered into initial releases with Battelle Energy Alliance, LLC (“Battelle”), the operating contractor of Idaho National Laboratory, in collaboration with the U.S. Department of Energy (“DOE”), which releases set forth the initial scopes of work and funding commitments under an “Umbrella” Strategic Partnership Project Agreement and an “Umbrella” Cooperative Research and Development Agreement (together, the “Agreements”), each dated September 27, 2022, between the Company and Battelle.

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Source: SEC EDGAR

accession 0001477932-22-009197

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