Business
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
About this update from Lightbridge Corporation
[{"type":"text","content":"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 ...