Lightbridge increases Battelle contract by $635K for fuel irradiation testing at INL

LIGHTBRIDGE Corp

Modification No. 2 adds ~$635K to Lightbridge's reimbursement obligations to Battelle for Idaho National Laboratory work.
Total estimated cost under the Umbrella SPPA raised to $1,708,623.
Total cash payments under both Agreements estimated at ~$4.3M on cost-reimbursable basis over performance periods.
Work involves fabricating delta-phase enriched U/Zr alloy ingot and irradiating fuel coupon specimens in ATR.
Agreements with Battelle and DOE have initial 7-year term; feedstock materials contributed by Battelle and DOE.

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 amended Modification No. 2 with Battelle Energy Alliance, LLC valued at approximately $635,000 (effective 2024-03-26).

Action: amendment
Agreement: collaboration
Counterparty: Battelle Energy Alliance, LLC
Value: approximately $635,000
Effective: 2024-03-26

Exact text from the filing

On March 26, 2024, Lightbridge Corporation (“Lightbridge” or the “Company”) and Battelle Energy Alliance, LLC (“Battelle”), the operating contractor of Idaho National Laboratory, entered into Modification No. 2 (“Modification No. 2”) to the Project Task Statement under the Strategic Partnership Project Agreement, dated December 9, 2022, as amended on May 23, 2023, by and between the Company and Battelle.

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Source: SEC EDGAR

accession 0001477932-24-001583

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