{"success":true,"data":{"pressRelease":{"id":"137503","rtpr_id":"nGNX3Z6lvB-20260908","ticker":"LTBR","exchange":"NASDAQ","all_tickers":["LTBR"],"title":"Lightbridge Letter to Shareholders Outlines Expedited Pathway to Bring Lightbridge Fuel™ to Commercial Reactors","author":"Globe Newswire","published_at":"2026-09-08T11:00:01.221Z","article_body":"RESTON, Va., Sept. 08, 2026 (GLOBE NEWSWIRE) -- Lightbridge Corporation\n(“Lightbridge” or the “Company”) (Nasdaq: LTBR), an advanced nuclear\nfuel technology company, today issued a letter to shareholders from\nLightbridge’s Chairman & Chief Executive Officer, Seth Grae, following the\nCompany’s selection for the U.S. Department of Energy’s Launch Pad INL\nProgram.\n\nDear Shareholders,\n\nRecently, we announced that Lightbridge has been selected to participate in\nthe U.S. Department of Energy’s (DOE’s) Launch Pad program at Idaho\nNational Laboratory (INL). This is an important milestone for our Company that\ncan enable an accelerated pathway for the commercial deployment of Lightbridge\nFuel™. In this letter, I want to provide additional context on the\nsignificance of this milestone and convey why we believe we will look back on\nthis day as one of the most consequential milestones in Lightbridge’s\nhistory.\n\nWhat makes this milestone so significant for Lightbridge?\n\nDOE’s Launch Pad INL enables a new two-prong commercialization strategy. The\nSpecial HALEU Extrusion Demonstration (SHED) facility that will produce Lead\nTest Assemblies (LTAs) will be deployed under DOE authorization. The\nLightbridge Expandable Fuel Facility (LEFF) will proceed separately toward\nU.S. Nuclear Regulatory Commission (NRC) licensing for commercial-scale\nproduction (see below). This two-pronged approach can accelerate our\ntime-to-market by several years compared to our previous projections. While\ndetailed cost estimates for SHED are still being developed, based on\npreliminary estimates, we currently expect our existing cash and financial\nresources to be sufficient to fund the construction, operation, and\ndecommissioning of SHED.\n\n\n\nThe path for SHED goes through the DOE. The path for LEFF runs through the\nNRC. Which one applies depends on the facility's scale and purpose. SHED, a\npilot-scale facility that produces LTAs, the full-size assemblies of\nLightbridge Fuel that a utility would load into the core of an operating\ncommercial reactor, which the NRC treats as part of a testing program, does\nnot require an NRC license. LEFF, a commercial-scale fuel fabrication\nfacility, does.\n\nWe’ve previously described LEFF as the world’s first fuel fabrication\nplant designed to expand in capacity as commercial demand for our fuel grows.\nOur original plan was to build LEFF under an NRC license in stages, starting\nwith pilot-scale fabrication to produce LTAs, and then expand production to\ncommercial scale to support batch reloads. That path is well understood from a\nregulatory licensing standpoint but would cost substantially more and take\nmuch longer.\n\nLightbridge engineers solved this the way they have solved most of our hard\nproblems: by redesigning the thing itself rather than accepting constraints.\nTheir idea was to take the first stage of LEFF, separate it entirely, and\ndeploy it as its own facility at INL (see below). This is the Special HALEU\nExtrusion Demonstration (SHED) facility. SHED will only be authorized by DOE,\nnever by the NRC, allowing it to move forward quickly and at lower cost,\nmeeting the utilities’ desire for LTAs by the mid-2030s (a timeline we hope\nto beat). SHED will operate under a nuclear quality assurance (NQA-1) program\nfrom the outset, so the NRC can approve the LTAs it produces for testing in a\nutility's reactor. This is the plan we submitted under Launch Pad INL, and it\nis the plan DOE has now selected.\n\n\n\nLaunch Pad is a DOE initiative supporting the Trump Administration’s goal of\nwidescale nuclear energy expansion through streamlined pathways for developers\nto demonstrate and accelerate commercial deployment.\n\nSHED’s advantages for LEFF\n\nWe are moving rapidly to finalize the design for SHED and select a site for\nLEFF. Both are proceeding in parallel. SHED will have tremendous advantages\nfor LEFF. In SHED, we will hone everything from equipment layout to process\ndemonstration and opportunities for automation of production for full-length\nfuel rods to our NQA-1 quality assurance program, and all of it will inform\nthe final design for LEFF. It will result in a much more refined design of\nLEFF, as one of the world’s most advanced commercial nuclear fuel\nfabrication facility. We expect that SHED will also make NRC licensing of LEFF\noccur more quickly (and hence at a lower cost). Rather than licensing LEFF\nbased on blueprints, the NRC will have the opportunity to visit SHED and\nexamine the LTAs produced there, which will be substantially similar to the\ncommercial fuel that will be produced at LEFF.\n\nThe voice of the customer\n\nWe view utilities as the most powerful companies in the nuclear power\nindustry. They operate the reactors, and they pull goods and services through\nthe supply chains. If a utility does not want a product, it doesn’t matter\nhow well a supplier makes it or how many it produces; no reactor operator will\nbuy it. To succeed as a supplier to utilities, we need to know what utilities\nwant.\n\nIn June, we launched and held an inaugural meeting of a reconstituted Nuclear\nUtility Fuel Advisory Board to ensure we are building toward what utilities\nactually want. The board provides us with direct input from utility industry\nrepresentatives on fuel development priorities, licensing considerations,\ndeployment strategies, operational requirements, and commercialization\nplanning. What we have heard has been consistent.\n\nUtilities want three things from a new fuel for their existing large reactors,\nand each can result in economic benefits.\n\nHigher capacity factors. A reactor that runs more of the time earns more from\nthe same plant and can spread fixed costs over more electricity sold. This\nresults in more revenue for the utility and a lower cost per megawatt-hour,\nwhich ultimately reaches ratepayers.\n\nHigher power output. The same result through a different mechanism: more power\nfrom the same plant, the same site, and the same operating license.\n\nEnhanced safety. Beyond its own merit, an improved safety margin can reduce\nthe cost of safety-related equipment. A plant whose backup diesel generators\nare not required to start as quickly, for example, may be able to use less\nexpensive equipment.\n\nUtilities have also been specific about timing. They want a fuel product that\ndelivers all three, available as LTAs in commercial nuclear power plants by\nthe mid-2030s, and in large-scale commercial use, by 2040. Those dates form\nthe urgency behind SHED, and we believe our current plan positions us to meet\nthem, with the goal of beating them.\n\nBenefits of Lightbridge Fuel to utilities\n\n\n\nLightbridge Fuel was designed against all three of those requirements. Its\nenhanced safety characteristics are inherent in the design and follow from the\nfuel's metallurgy rather than from any changes the utility would have to make;\nthe operational gains described below are what a utility would see in its own\nnumbers.\n\nCapacity factor. Our fuel for existing light water reactors is designed to\nremain in the reactor longer between refuelings, which means fewer outages\nover the life of the plant and more days providing power. It is also designed\nfor a faster ramp rate, allowing a reactor to reach full power and come down\nfor a refueling outage more quickly than it can on current fuel, shortening\nthe transition days at either end of an outage.\n\nPower output. We expect our fuel to increase the power output of an existing\nreactor by up to 10% without changing the plant's steam generators. Utilities\nperiodically replace steam generators, sometimes in connection with a license\nextension. For plants that move to a high-capacity steam generator, we believe\nour fuel can increase power output by up to 20%. New-build reactors\nconstructed with higher-capacity steam generators could see an increase of\nroughly one third — a utility could build three reactors and get the power\nof four. Reactors designed from the outset to optimize use of our fuel could\npotentially see uprates well above 30%.\n\nOnward in Idaho Falls\n\nSHED will be deployed at INL, and that location matters more than it might\nappear.\n\nAt the INL Materials and Fuels Complex (MFC), Lightbridge engineers have\nworked alongside INL engineers to produce the fuel samples now undergoing\ntesting. A short distance away at SHED, many of those same engineers —\njoined by new colleagues we are actively hiring — will produce Lead Test\nAssemblies, again with INL support. The people, the site, and the working\nrelationships carry forward intact. Few technology companies get to scale up\nwithout also starting over.\n\nIdaho Falls is now home to more Lightbridge employees than any other location,\nand that number continues to grow. Our job openings are updated frequently on\nthe Career page of our website, and the quality of applicants we have seen has\nbeen a genuine source of confidence about what comes next.\n\nThe path from fuel samples at MFC to Lead Test Assemblies at SHED to\ncommercial fuel at LEFF begins in Idaho. We are grateful to DOE and NRIC for\nselecting us under Launch Pad INL, and to our colleagues at INL who have\nbrought us to this point.\n\nI want to close by thanking our shareholders. Many of you have held our stock\nthrough years when the milestones were technical, and the timelines were long,\nand that patience is a large part of what made this moment possible.\n\nOver the next several quarters, we expect to provide more detail on the plan\ndescribed in this letter. That includes the results of post-irradiation\nexamination of the fuel samples produced with INL, progress on the SHED design\nand site work, site selection for LEFF, and the cost, timeline, and economic\nassumptions that analysts need to model both facilities, including our\nexpectations for the value our fuel creates for utilities through higher\ncapacity factors, increased power output, and enhanced safety.\n\nSelection under Launch Pad INL is what makes SHED possible, and SHED is what\nmakes LTAs in a commercial reactor possible within the timeframe utilities\nhave told us they need. That is why we believe we will look back on this as\none of the most consequential milestones in Lightbridge's history. We are\ngrateful to have you with us for what comes next.\n\nSeth Grae\nChairman & CEO\nLightbridge Corporation\n\nAbout Lightbridge Corporation \nLightbridge Corporation (Nasdaq: LTBR) is focused on developing advanced\nnuclear fuel technology essential to delivering abundant, zero-emission, clean\nenergy and providing energy security to the world. The Company is developing\nLightbridge Fuel™, a proprietary next-generation nuclear fuel technology for\nexisting light-water and pressurized heavy-water reactors, significantly\nenhancing reactor safety, economics, and proliferation resistance. The Company\nis also developing Lightbridge Fuel for new small modular reactors to deliver\nthe same benefits, when combined with load-following with renewables, on a\nzero-carbon electric grid.\n\nLightbridge has entered into two long-term framework agreements with Battelle\nEnergy Alliance, LLC, the United States Department of Energy’s operating\ncontractor for Idaho National Laboratory, the United States’ lead nuclear\nenergy research and development laboratory. DOE’s Gateway for Accelerated\nInnovation in Nuclear program has twice awarded Lightbridge to support the\ndevelopment of Lightbridge Fuel over the past several years. An extensive\nworldwide patent portfolio backs Lightbridge’s innovative fuel technology.\nLightbridge is included in the Russell 2000®, Russell 3000®, and Solactive\nGlobal Uranium & Nuclear Components Total Return Indexes. For more\ninformation, please visit www.ltbridge.com.\n\nTo receive Lightbridge Corporation updates via e-mail, subscribe at\nhttps://www.ltbridge.com/investors/news-events/email-alerts  \n\nLightbridge is on YouTube. Subscribe to access past demonstrations,\ninterviews, and other video content at\nhttps://www.youtube.com/@lightbridgecorporation\n\nLightbridge is on X (formerly Twitter). Sign up to follow @LightbridgeCorp at\nhttp://twitter.com/lightbridgecorp. \n\nForward Looking Statements \nWith the exception of historical matters, the matters discussed herein are\nforward-looking statements. These statements are based on current expectations\non the date of this news release and involve a number of risks and\nuncertainties that may cause actual results to differ significantly from such\nestimates. The risks include, but are not limited to: Lightbridge’s ability\nto commercialize its nuclear fuel technology, including risks related to the\ndesign and testing of nuclear fuel incorporating its technology and the degree\nof market adoption of Lightbridge’s product and service offerings;\ndependence on strategic partners; any adverse changes to Lightbridge’s\nagreements or relationship with the U.S. government and its national\nlaboratories; Lightbridge’s ability to fund its future operations, including\ngeneral corporate overhead and outside research and development expenses, and\ncontinue as a going concern; the future market and demand for Lightbridge’s\nfuel for nuclear reactors and its ability to attract customers;\nLightbridge’s ability to manage the business effectively in a rapidly\nevolving market; Lightbridge’s ability to employ and retain qualified\nemployees and consultants that have experience in the nuclear industry;\ncompetition and competitive factors in the markets in which Lightbridge\ncompetes, including from accident-tolerant fuels; access to and availability\nof nuclear test reactors and the risks associated with unexpected changes in\nLightbridge’s nuclear fuel development timeline; access to and availability\nof adequate resources and manufacturing capabilities at national laboratories\nthat affect our nuclear fuel development timeline and project costs; the\nimpact that Launch Pad INL will have on Lightbridge’s nuclear fuel\ndevelopment timeline; Lightbridge’s ability to deploy and operate a\ndedicated nuclear fuel fabrication facility; the increased costs associated\nwith metallization of Lightbridge’s nuclear fuel; uncertainties related to\nconducting business in foreign countries; public perception of nuclear energy\ngenerally; changes in applicable laws, regulations, governmental policies, or\nregulatory interpretations, including those affecting the licensing, testing,\nmanufacture, and commercialization of Lightbridge Fuel; changes in the\npolitical environment; development and utilization of, and challenges to,\nLightbridge’s intellectual property domestically and abroad; the volatility\nof the trading price of Lightbridge’s securities and the potential for\npurchasers of its securities to incur substantial losses; and other factors\ndescribed in Lightbridge’s filings with the Securities and Exchange\nCommission (the “SEC”). Lightbridge does not assume any obligation to\nupdate or revise any such forward-looking statements, whether as a result of\nnew developments or otherwise, except as required by law. Readers are\ncautioned not to put undue reliance on forward-looking statements. \n\nA further description of risks and uncertainties can be found in\nLightbridge’s Annual Report on Form 10-K for the fiscal year ended December\n31, 2025, and in its other filings with the SEC, including in the sections\nthereof captioned “Risk Factors” and “Forward-Looking Statements,” all\nof which are available at http://www.sec.gov/ and www.ltbridge.com.  \n\nInvestor Relations Contact: \nMatthew Abenante, IRC \nDirector of Investor Relations  \nTel: +1 (347) 947-2093  \nir@ltbridge.com\n\nPhotos accompanying this announcement are available at: \n\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/00324ca6-82d7-41d6-8b1d-7a27d3cd3962\n\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/e17b37ce-4f38-4632-b04f-eb5e32a21ab5\n\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/f229d0c0-25c4-4953-8498-81dd8cb1f390\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/2f48e81d-ceeb-45e5-b24f-25415a315cb1)\nThe Conventional Path vs. Our Accelerated Path \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/00324ca6-82d7-41d6-8b1d-7a27d3cd3962/en)\nThe Conventional Path vs. Our Accelerated PathSHED is Stage One, Deployed\nEarly \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/e17b37ce-4f38-4632-b04f-eb5e32a21ab5/en)\nSHED is Stage One, Deployed EarlyLightbridge Fuel: Next-Generation Nuclear\nFuel Technology \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/f229d0c0-25c4-4953-8498-81dd8cb1f390/en)\nLightbridge Fuel: Next-Generation Nuclear Fuel Technology\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX3Z6lvB-20260908","title":"Lightbridge Letter to Shareholders Outlines Expedited Pathway to Bring Lightbridge Fuel™ to Commercial Reactors","author":"Globe Newswire","ticker":"LTBR","created":"2026-09-08T11:00:01.221Z","tickers":["LTBR"],"exchange":"NASDAQ","article_body":"RESTON, Va., Sept. 08, 2026 (GLOBE NEWSWIRE) -- Lightbridge Corporation\n(“Lightbridge” or the “Company”) (Nasdaq: LTBR), an advanced nuclear\nfuel technology company, today issued a letter to shareholders from\nLightbridge’s Chairman & Chief Executive Officer, Seth Grae, following the\nCompany’s selection for the U.S. Department of Energy’s Launch Pad INL\nProgram.\n\nDear Shareholders,\n\nRecently, we announced that Lightbridge has been selected to participate in\nthe U.S. Department of Energy’s (DOE’s) Launch Pad program at Idaho\nNational Laboratory (INL). This is an important milestone for our Company that\ncan enable an accelerated pathway for the commercial deployment of Lightbridge\nFuel™. In this letter, I want to provide additional context on the\nsignificance of this milestone and convey why we believe we will look back on\nthis day as one of the most consequential milestones in Lightbridge’s\nhistory.\n\nWhat makes this milestone so significant for Lightbridge?\n\nDOE’s Launch Pad INL enables a new two-prong commercialization strategy. The\nSpecial HALEU Extrusion Demonstration (SHED) facility that will produce Lead\nTest Assemblies (LTAs) will be deployed under DOE authorization. The\nLightbridge Expandable Fuel Facility (LEFF) will proceed separately toward\nU.S. Nuclear Regulatory Commission (NRC) licensing for commercial-scale\nproduction (see below). This two-pronged approach can accelerate our\ntime-to-market by several years compared to our previous projections. While\ndetailed cost estimates for SHED are still being developed, based on\npreliminary estimates, we currently expect our existing cash and financial\nresources to be sufficient to fund the construction, operation, and\ndecommissioning of SHED.\n\n\n\nThe path for SHED goes through the DOE. The path for LEFF runs through the\nNRC. Which one applies depends on the facility's scale and purpose. SHED, a\npilot-scale facility that produces LTAs, the full-size assemblies of\nLightbridge Fuel that a utility would load into the core of an operating\ncommercial reactor, which the NRC treats as part of a testing program, does\nnot require an NRC license. LEFF, a commercial-scale fuel fabrication\nfacility, does.\n\nWe’ve previously described LEFF as the world’s first fuel fabrication\nplant designed to expand in capacity as commercial demand for our fuel grows.\nOur original plan was to build LEFF under an NRC license in stages, starting\nwith pilot-scale fabrication to produce LTAs, and then expand production to\ncommercial scale to support batch reloads. That path is well understood from a\nregulatory licensing standpoint but would cost substantially more and take\nmuch longer.\n\nLightbridge engineers solved this the way they have solved most of our hard\nproblems: by redesigning the thing itself rather than accepting constraints.\nTheir idea was to take the first stage of LEFF, separate it entirely, and\ndeploy it as its own facility at INL (see below). This is the Special HALEU\nExtrusion Demonstration (SHED) facility. SHED will only be authorized by DOE,\nnever by the NRC, allowing it to move forward quickly and at lower cost,\nmeeting the utilities’ desire for LTAs by the mid-2030s (a timeline we hope\nto beat). SHED will operate under a nuclear quality assurance (NQA-1) program\nfrom the outset, so the NRC can approve the LTAs it produces for testing in a\nutility's reactor. This is the plan we submitted under Launch Pad INL, and it\nis the plan DOE has now selected.\n\n\n\nLaunch Pad is a DOE initiative supporting the Trump Administration’s goal of\nwidescale nuclear energy expansion through streamlined pathways for developers\nto demonstrate and accelerate commercial deployment.\n\nSHED’s advantages for LEFF\n\nWe are moving rapidly to finalize the design for SHED and select a site for\nLEFF. Both are proceeding in parallel. SHED will have tremendous advantages\nfor LEFF. In SHED, we will hone everything from equipment layout to process\ndemonstration and opportunities for automation of production for full-length\nfuel rods to our NQA-1 quality assurance program, and all of it will inform\nthe final design for LEFF. It will result in a much more refined design of\nLEFF, as one of the world’s most advanced commercial nuclear fuel\nfabrication facility. We expect that SHED will also make NRC licensing of LEFF\noccur more quickly (and hence at a lower cost). Rather than licensing LEFF\nbased on blueprints, the NRC will have the opportunity to visit SHED and\nexamine the LTAs produced there, which will be substantially similar to the\ncommercial fuel that will be produced at LEFF.\n\nThe voice of the customer\n\nWe view utilities as the most powerful companies in the nuclear power\nindustry. They operate the reactors, and they pull goods and services through\nthe supply chains. If a utility does not want a product, it doesn’t matter\nhow well a supplier makes it or how many it produces; no reactor operator will\nbuy it. To succeed as a supplier to utilities, we need to know what utilities\nwant.\n\nIn June, we launched and held an inaugural meeting of a reconstituted Nuclear\nUtility Fuel Advisory Board to ensure we are building toward what utilities\nactually want. The board provides us with direct input from utility industry\nrepresentatives on fuel development priorities, licensing considerations,\ndeployment strategies, operational requirements, and commercialization\nplanning. What we have heard has been consistent.\n\nUtilities want three things from a new fuel for their existing large reactors,\nand each can result in economic benefits.\n\nHigher capacity factors. A reactor that runs more of the time earns more from\nthe same plant and can spread fixed costs over more electricity sold. This\nresults in more revenue for the utility and a lower cost per megawatt-hour,\nwhich ultimately reaches ratepayers.\n\nHigher power output. The same result through a different mechanism: more power\nfrom the same plant, the same site, and the same operating license.\n\nEnhanced safety. Beyond its own merit, an improved safety margin can reduce\nthe cost of safety-related equipment. A plant whose backup diesel generators\nare not required to start as quickly, for example, may be able to use less\nexpensive equipment.\n\nUtilities have also been specific about timing. They want a fuel product that\ndelivers all three, available as LTAs in commercial nuclear power plants by\nthe mid-2030s, and in large-scale commercial use, by 2040. Those dates form\nthe urgency behind SHED, and we believe our current plan positions us to meet\nthem, with the goal of beating them.\n\nBenefits of Lightbridge Fuel to utilities\n\n\n\nLightbridge Fuel was designed against all three of those requirements. Its\nenhanced safety characteristics are inherent in the design and follow from the\nfuel's metallurgy rather than from any changes the utility would have to make;\nthe operational gains described below are what a utility would see in its own\nnumbers.\n\nCapacity factor. Our fuel for existing light water reactors is designed to\nremain in the reactor longer between refuelings, which means fewer outages\nover the life of the plant and more days providing power. It is also designed\nfor a faster ramp rate, allowing a reactor to reach full power and come down\nfor a refueling outage more quickly than it can on current fuel, shortening\nthe transition days at either end of an outage.\n\nPower output. We expect our fuel to increase the power output of an existing\nreactor by up to 10% without changing the plant's steam generators. Utilities\nperiodically replace steam generators, sometimes in connection with a license\nextension. For plants that move to a high-capacity steam generator, we believe\nour fuel can increase power output by up to 20%. New-build reactors\nconstructed with higher-capacity steam generators could see an increase of\nroughly one third — a utility could build three reactors and get the power\nof four. Reactors designed from the outset to optimize use of our fuel could\npotentially see uprates well above 30%.\n\nOnward in Idaho Falls\n\nSHED will be deployed at INL, and that location matters more than it might\nappear.\n\nAt the INL Materials and Fuels Complex (MFC), Lightbridge engineers have\nworked alongside INL engineers to produce the fuel samples now undergoing\ntesting. A short distance away at SHED, many of those same engineers —\njoined by new colleagues we are actively hiring — will produce Lead Test\nAssemblies, again with INL support. The people, the site, and the working\nrelationships carry forward intact. Few technology companies get to scale up\nwithout also starting over.\n\nIdaho Falls is now home to more Lightbridge employees than any other location,\nand that number continues to grow. Our job openings are updated frequently on\nthe Career page of our website, and the quality of applicants we have seen has\nbeen a genuine source of confidence about what comes next.\n\nThe path from fuel samples at MFC to Lead Test Assemblies at SHED to\ncommercial fuel at LEFF begins in Idaho. We are grateful to DOE and NRIC for\nselecting us under Launch Pad INL, and to our colleagues at INL who have\nbrought us to this point.\n\nI want to close by thanking our shareholders. Many of you have held our stock\nthrough years when the milestones were technical, and the timelines were long,\nand that patience is a large part of what made this moment possible.\n\nOver the next several quarters, we expect to provide more detail on the plan\ndescribed in this letter. That includes the results of post-irradiation\nexamination of the fuel samples produced with INL, progress on the SHED design\nand site work, site selection for LEFF, and the cost, timeline, and economic\nassumptions that analysts need to model both facilities, including our\nexpectations for the value our fuel creates for utilities through higher\ncapacity factors, increased power output, and enhanced safety.\n\nSelection under Launch Pad INL is what makes SHED possible, and SHED is what\nmakes LTAs in a commercial reactor possible within the timeframe utilities\nhave told us they need. That is why we believe we will look back on this as\none of the most consequential milestones in Lightbridge's history. We are\ngrateful to have you with us for what comes next.\n\nSeth Grae\nChairman & CEO\nLightbridge Corporation\n\nAbout Lightbridge Corporation \nLightbridge Corporation (Nasdaq: LTBR) is focused on developing advanced\nnuclear fuel technology essential to delivering abundant, zero-emission, clean\nenergy and providing energy security to the world. The Company is developing\nLightbridge Fuel™, a proprietary next-generation nuclear fuel technology for\nexisting light-water and pressurized heavy-water reactors, significantly\nenhancing reactor safety, economics, and proliferation resistance. The Company\nis also developing Lightbridge Fuel for new small modular reactors to deliver\nthe same benefits, when combined with load-following with renewables, on a\nzero-carbon electric grid.\n\nLightbridge has entered into two long-term framework agreements with Battelle\nEnergy Alliance, LLC, the United States Department of Energy’s operating\ncontractor for Idaho National Laboratory, the United States’ lead nuclear\nenergy research and development laboratory. DOE’s Gateway for Accelerated\nInnovation in Nuclear program has twice awarded Lightbridge to support the\ndevelopment of Lightbridge Fuel over the past several years. An extensive\nworldwide patent portfolio backs Lightbridge’s innovative fuel technology.\nLightbridge is included in the Russell 2000®, Russell 3000®, and Solactive\nGlobal Uranium & Nuclear Components Total Return Indexes. For more\ninformation, please visit www.ltbridge.com.\n\nTo receive Lightbridge Corporation updates via e-mail, subscribe at\nhttps://www.ltbridge.com/investors/news-events/email-alerts  \n\nLightbridge is on YouTube. Subscribe to access past demonstrations,\ninterviews, and other video content at\nhttps://www.youtube.com/@lightbridgecorporation\n\nLightbridge is on X (formerly Twitter). Sign up to follow @LightbridgeCorp at\nhttp://twitter.com/lightbridgecorp. \n\nForward Looking Statements \nWith the exception of historical matters, the matters discussed herein are\nforward-looking statements. These statements are based on current expectations\non the date of this news release and involve a number of risks and\nuncertainties that may cause actual results to differ significantly from such\nestimates. The risks include, but are not limited to: Lightbridge’s ability\nto commercialize its nuclear fuel technology, including risks related to the\ndesign and testing of nuclear fuel incorporating its technology and the degree\nof market adoption of Lightbridge’s product and service offerings;\ndependence on strategic partners; any adverse changes to Lightbridge’s\nagreements or relationship with the U.S. government and its national\nlaboratories; Lightbridge’s ability to fund its future operations, including\ngeneral corporate overhead and outside research and development expenses, and\ncontinue as a going concern; the future market and demand for Lightbridge’s\nfuel for nuclear reactors and its ability to attract customers;\nLightbridge’s ability to manage the business effectively in a rapidly\nevolving market; Lightbridge’s ability to employ and retain qualified\nemployees and consultants that have experience in the nuclear industry;\ncompetition and competitive factors in the markets in which Lightbridge\ncompetes, including from accident-tolerant fuels; access to and availability\nof nuclear test reactors and the risks associated with unexpected changes in\nLightbridge’s nuclear fuel development timeline; access to and availability\nof adequate resources and manufacturing capabilities at national laboratories\nthat affect our nuclear fuel development timeline and project costs; the\nimpact that Launch Pad INL will have on Lightbridge’s nuclear fuel\ndevelopment timeline; Lightbridge’s ability to deploy and operate a\ndedicated nuclear fuel fabrication facility; the increased costs associated\nwith metallization of Lightbridge’s nuclear fuel; uncertainties related to\nconducting business in foreign countries; public perception of nuclear energy\ngenerally; changes in applicable laws, regulations, governmental policies, or\nregulatory interpretations, including those affecting the licensing, testing,\nmanufacture, and commercialization of Lightbridge Fuel; changes in the\npolitical environment; development and utilization of, and challenges to,\nLightbridge’s intellectual property domestically and abroad; the volatility\nof the trading price of Lightbridge’s securities and the potential for\npurchasers of its securities to incur substantial losses; and other factors\ndescribed in Lightbridge’s filings with the Securities and Exchange\nCommission (the “SEC”). Lightbridge does not assume any obligation to\nupdate or revise any such forward-looking statements, whether as a result of\nnew developments or otherwise, except as required by law. Readers are\ncautioned not to put undue reliance on forward-looking statements. \n\nA further description of risks and uncertainties can be found in\nLightbridge’s Annual Report on Form 10-K for the fiscal year ended December\n31, 2025, and in its other filings with the SEC, including in the sections\nthereof captioned “Risk Factors” and “Forward-Looking Statements,” all\nof which are available at http://www.sec.gov/ and www.ltbridge.com.  \n\nInvestor Relations Contact: \nMatthew Abenante, IRC \nDirector of Investor Relations  \nTel: +1 (347) 947-2093  \nir@ltbridge.com\n\nPhotos accompanying this announcement are available at: \n\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/00324ca6-82d7-41d6-8b1d-7a27d3cd3962\n\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/e17b37ce-4f38-4632-b04f-eb5e32a21ab5\n\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/f229d0c0-25c4-4953-8498-81dd8cb1f390\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/2f48e81d-ceeb-45e5-b24f-25415a315cb1)\nThe Conventional Path vs. Our Accelerated Path \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/00324ca6-82d7-41d6-8b1d-7a27d3cd3962/en)\nThe Conventional Path vs. Our Accelerated PathSHED is Stage One, Deployed\nEarly \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/e17b37ce-4f38-4632-b04f-eb5e32a21ab5/en)\nSHED is Stage One, Deployed EarlyLightbridge Fuel: Next-Generation Nuclear\nFuel Technology \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/f229d0c0-25c4-4953-8498-81dd8cb1f390/en)\nLightbridge Fuel: Next-Generation Nuclear Fuel Technology\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-09-08T11:00:01.309982905Z","server_sent_at_ms":1788865201309},"received_at":"2026-09-08T11:00:01.368Z","source_url":"https://www.globenewswire.com/news-release/2026/09/08/3357493/24486/en/lightbridge-letter-to-shareholders-outlines-expedited-pathway-to-bring-lightbridge-fuel-to-commercial-reactors.html"},"analysis":{"id":"126374","press_release_id":"137503","analysis_json":{"industry":{"label":"Oil, Gas & Consumable Fuels","sector":"Energy"},"redFlags":["Pre-revenue developer: LTAs not expected in commercial reactors until the mid-2030s, large-scale use by 2040","Detailed SHED cost estimates still being developed; cash-sufficiency claim is based on preliminary estimates","Heavy reliance on DOE/INL government partnership; adverse changes to government agreements are cited risk factors","Forward-looking statements include ability to fund future operations and continue as a going concern"],"eventType":"operations_update","narrative":"Lightbridge has been selected for the U.S. Department of Energy's Launch Pad program at Idaho National Laboratory, a milestone Chairman and CEO Seth Grae describes as one of the most consequential in the company's history.\n\nThe plan splits commercialization in two: the SHED pilot-scale facility at INL will produce Lead Test Assemblies under DOE authorization without NRC licensing, while the LEFF commercial-scale fabrication plant proceeds separately toward NRC licensing.\n\nManagement says this approach can accelerate time-to-market by several years versus prior projections, targets LTAs in commercial reactors by the mid-2030s and large-scale use by 2040, and expects existing cash to be sufficient to fund SHED's construction, operation, and decommissioning.\n\nLightbridge Fuel is designed to lift power output at existing reactors by up to 10%, or up to 20% with high-capacity steam generators, while improving capacity factors and safety margins — the three attributes utilities told the company's new Nuclear Utility Fuel Advisory Board they want.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"DOE Launch Pad selection unlocks a faster, cheaper two-track route to commercial nuclear fuel — a potential several-year acceleration toward mid-2030s lead test assemblies."},"keyFigures":{"customDimensions":{"new_build_uplift":"roughly one third (three reactors delivering the power of four)","lta_target_timeline":"mid-2030s","time_to_market_acceleration":"several years vs. previous projections","large_scale_commercial_target":"2040","optimized_reactor_uprate_potential":"well above 30%","power_output_uplift_existing_reactors":"up to 10%","power_output_uplift_high_capacity_steam_generators":"up to 20%"}},"quotedText":"time-to-market by several years compared to our previous projections.","namedEntities":{"people":[{"name":"Seth Grae","role":"Chairman & CEO, Lightbridge Corporation"},{"name":"Matthew Abenante","role":"Director of Investor Relations"}],"products":["Lightbridge Fuel™","SHED (Special HALEU Extrusion Demonstration facility)","LEFF (Lightbridge Expandable Fuel Facility)","Lead Test Assemblies (LTAs)"],"companies":[{"name":"Lightbridge Corporation","ticker":"LTBR","relationship":"filer"},{"name":"U.S. Department of Energy (DOE)","relationship":"government program partner (Launch Pad INL)"},{"name":"Idaho National Laboratory (INL)","relationship":"national laboratory partner / deployment site"},{"name":"Battelle Energy Alliance, LLC","relationship":"DOE operating contractor for Idaho National Laboratory; long-term framework agreement partner"},{"name":"U.S. Nuclear Regulatory Commission (NRC)","relationship":"regulator for LEFF licensing"}],"dollarAmounts":[]},"materialImpact":{"score":3,"reasoning":"DOE Launch Pad INL selection enables a two-pronged commercialization strategy (DOE-authorized SHED plus NRC-licensed LEFF) that management says can accelerate time-to-market by several years, with existing cash expected to fund SHED. No immediate financial impact, but a meaningful de-risking of the path to market for a pre-revenue nuclear fuel developer."},"tickerRelevance":{"others":[],"primary":"LTBR"},"globalImportance":26,"audienceRelevance":40,"eventTypeSecondary":["partnership"],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"strategic commercialization milestone with multi-year timeline acceleration","sectorWeight":"nuclear/uranium — elevated retail and thematic interest","financialImmediacy":"none — no revenue or funding event disclosed","marketCapAdjustment":"small/micro-cap discount applied","retailFavoriteBoost":true}},"event_type":"operations_update","event_type_secondary":["partnership"],"sentiment":"bullish","material_impact_score":3,"narrative":"Lightbridge has been selected for the U.S. Department of Energy's Launch Pad program at Idaho National Laboratory, a milestone Chairman and CEO Seth Grae describes as one of the most consequential in the company's history.\n\nThe plan splits commercialization in two: the SHED pilot-scale facility at INL will produce Lead Test Assemblies under DOE authorization without NRC licensing, while the LEFF commercial-scale fabrication plant proceeds separately toward NRC licensing.\n\nManagement says this approach can accelerate time-to-market by several years versus prior projections, targets LTAs in commercial reactors by the mid-2030s and large-scale use by 2040, and expects existing cash to be sufficient to fund SHED's construction, operation, and decommissioning.\n\nLightbridge Fuel is designed to lift power output at existing reactors by up to 10%, or up to 20% with high-capacity steam generators, while improving capacity factors and safety margins — the three attributes utilities told the company's new Nuclear Utility Fuel Advisory Board they want.","key_figures":{"customDimensions":{"new_build_uplift":"roughly one third (three reactors delivering the power of four)","lta_target_timeline":"mid-2030s","time_to_market_acceleration":"several years vs. previous projections","large_scale_commercial_target":"2040","optimized_reactor_uprate_potential":"well above 30%","power_output_uplift_existing_reactors":"up to 10%","power_output_uplift_high_capacity_steam_generators":"up to 20%"}},"named_entities":{"people":[{"name":"Seth Grae","role":"Chairman & CEO, Lightbridge Corporation"},{"name":"Matthew Abenante","role":"Director of Investor Relations"}],"products":["Lightbridge Fuel™","SHED (Special HALEU Extrusion Demonstration facility)","LEFF (Lightbridge Expandable Fuel Facility)","Lead Test Assemblies (LTAs)"],"companies":[{"name":"Lightbridge Corporation","ticker":"LTBR","relationship":"filer"},{"name":"U.S. Department of Energy (DOE)","relationship":"government program partner (Launch Pad INL)"},{"name":"Idaho National Laboratory (INL)","relationship":"national laboratory partner / deployment site"},{"name":"Battelle Energy Alliance, LLC","relationship":"DOE operating contractor for Idaho National Laboratory; long-term framework agreement partner"},{"name":"U.S. Nuclear Regulatory Commission (NRC)","relationship":"regulator for LEFF licensing"}],"dollarAmounts":[]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-08T11:11:32.206Z","global_importance":26,"audience_relevance":40,"importance_components":{"tickerTier":"small-cap","eventGravity":"strategic commercialization milestone with multi-year timeline acceleration","sectorWeight":"nuclear/uranium — elevated retail and thematic interest","financialImmediacy":"none — no revenue or funding event disclosed","marketCapAdjustment":"small/micro-cap discount applied","retailFavoriteBoost":true}},"durationMs":null,"modelName":"glm-4.7"}}