The Conversation (0)
Lightbridge Corporation ("Lightbridge" or the "Company") (Nasdaq: LTBR), an advanced nuclear fuel technology company, today commended the U.S. Department of Energy's ("DOE") launch of the Utility Power Reactor Incremental Scaling Effort ("UPRISE"), a new initiative aimed at significantly expanding the nation's nuclear energy capacity by maximizing the output of existing reactors, restarting dormant facilities, and extending reactor operating lifespans.
Announced on March 12, 2026, the UPRISE initiative targets 2.5 GW of additional nuclear capacity by 2027 and 5 GW of total additional capacity by 2029. The initiative directly advances the objectives of executive orders signed by President Trump in May 2025, which call for quadrupling U.S. nuclear generating capacity from approximately 100 GW to 400 GW by 2050 and directing DOE to facilitate 5 GW of nuclear power uprates at existing reactors.
UPRISE consists of a three-pronged approach: establishing the business case through supply chain and equipment assessments, facilitating physical plant upgrades requiring license amendments, and supporting reactor restarts. The DOE's Office of Energy Dominance Financing has more than $289 billion in available loan authority. It is prepared to provide up to 80 percent financing for eligible project costs associated with nuclear uprates at attractive interest rates.
Power uprates represent one of the most cost-effective pathways to expanding nuclear energy capacity in the United States. Historically, 171 approved uprates have added approximately 8.5 GW of electric capacity to the U.S. grid—the equivalent of roughly eight large reactors—at a fraction of the cost of new construction. The Nuclear Regulatory Commission currently anticipates approximately 30 additional uprate applications through 2030, representing roughly 2.5 GW of potential new capacity.
Lightbridge Fuel™ can play a meaningful role in supporting the goals of the UPRISE initiative. Lightbridge Fuel is being designed to provide the greatest power uprates to existing pressurized water reactors. Lightbridge Fuel's proprietary helical multi-lobe design operates at approximately 1,000°C cooler than conventional nuclear fuel, significantly enhancing safety margins and reducing the risk of hydrogen generation during design basis events.
While DOE officials have indicated that initial UPRISE capacity targets through 2027 are based on conventional uprate methods, we believe advanced fuel technologies can contribute meaningfully to capacity expansion goals in the 2030s and beyond. Lightbridge's ongoing irradiation testing of enriched uranium-zirconium alloy fuel material samples in the Advanced Test Reactor at Idaho National Laboratory, which commenced in November 2025, positions the Company to support this next phase of generating capacity expansion within the U.S. nuclear reactor fleet.
Seth Grae, President and Chief Executive Officer of Lightbridge, commented, "We commend the Department of Energy for launching the UPRISE initiative, which represents a decisive and practical step toward strengthening America's energy security. Power uprates at existing reactors are among the fastest and most cost-effective ways to put more clean, reliable electricity on the grid—and they align directly with the President's executive orders to expand our nation's nuclear capacity. Lightbridge Fuel is being designed to deliver meaningful power uprates with enhanced safety margins, and we look forward to contributing to this important national effort as our fuel technology progresses through its development program and commercial deployment."
About Lightbridge Corporation
Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential to 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 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 deliver 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. An extensive worldwide patent portfolio backs Lightbridge's innovative fuel technology. Lightbridge is included in the Russell 2000® and Russell 3000® Indexes. For more information, please visit www.ltbridge.com.
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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, 2025, 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 http://www.sec.gov/ and www.ltbridge.com.
Investor Relations Contact:
Matthew Abenante, IRC
Director of Investor Relations
Tel: +1 (347) 947-2093
ir@ltbridge.com
