Lightbridge Corporation and Quadrant Nuclear Industries Announce Memorandum of Understanding to Advance Domestic HALEU Fuel Supply
RESTON, Va. and BOSTON, July 27, 2026 (GLOBE NEWSWIRE) -- Lightbridge Corporation (Nasdaq: LTBR), a leader in advanced nuclear fuel technology, and Quadrant Nuclear Industries Inc. (QNI), a developer of integrated nuclear fuel cycle capabilities, today announced they have entered into a memorandum of understanding (MoU) to establish a framework for collaboration on the long-term supply of high-assay low-enriched uranium (HALEU) fuel.
The MoU reflects a shared commitment to strengthening the domestic nuclear fuel supply chain, advancing next-generation nuclear technologies, and supporting U.S. energy security and decarbonization objectives. Under the agreement, Lightbridge and QNI will engage in discussions regarding the potential supply and long-term offtake of HALEU produced at QNI's planned Vanguard facility at Idaho National Laboratory.
"We are pleased to establish this Memorandum of Understanding with QNI as we continue advancing the commercialization of Lightbridge Fuel™," said Seth Grae, Chairman and CEO of Lightbridge Corporation. "As we progress in the development and regulatory licensing of Lightbridge Fuel™, it is critical that we begin solidifying a reliable domestic supply of HALEU. We look forward to working with QNI to explore opportunities that support our long-term fuel requirements and contribute to a more secure U.S. nuclear fuel supply chain."
"Developing a secure, U.S.-based source of HALEU is essential to enabling the next generation of nuclear energy," said Dee Mewbourne, CEO of QNI. "Our cooperation with Lightbridge reflects the growing alignment between advanced fuel innovation and domestic fuel production. Through this collaboration, we aim to establish a framework for a long-term offtake arrangement that supports commercialization of Lightbridge's advanced fuel technology while strengthening the domestic nuclear fuel ecosystem."
QNI is developing an integrated HALEU production capability in coordination with the U.S. Department of Energy and other key stakeholders. Its planned Vanguard facility at Idaho National Laboratory is designed to produce up to eighteen metric tons of HALEU annually at full capacity, supporting both commercial and government markets for advanced nuclear reactors.
The companies intend to collaborate on areas including fuel supply planning, technical interface requirements, commercial structuring, regulatory coordination, and logistics considerations associated with HALEU supply arrangements.
This collaboration provides a foundation for potential commercial agreements as both companies advance their respective development programs. The MoU is non-binding and does not establish pricing, quantity, or exclusivity commitments. Any binding terms would be subject to a definitive agreement following further negotiation.
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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About QNI
Quadrant Nuclear Industries, Inc. (QNI) is a U.S.-based nuclear energy company focused on building an integrated, domestic nuclear fuel cycle to support the next generation of advanced reactors. The company is developing capabilities across fuel production, recovery, and reprocessing, with a focus on enabling a reliable, secure, and sustainable supply of nuclear fuel in the United States. QNI is advancing key initiatives in coordination with the U.S. Department of Energy and national laboratories, including activities at Idaho National Laboratory aimed at the responsible recycling of used nuclear fuel. Through its technology-driven and execution-focused approach, QNI seeks to strengthen U.S. energy security and accelerate the deployment of advanced nuclear energy systems.
Forward-Looking Statements
This news release contains forward-looking statements regarding the anticipated benefits of the memorandum of understanding, potential future commercial arrangements between the parties, the development and operation of QNI's planned HALEU production facility, and the anticipated availability of HALEU fuel. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. The memorandum of understanding is non-binding and does not obligate either party to enter into any definitive agreement.
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, including risks related to the design and testing of nuclear fuel incorporating its technology and the degree of market adoption of Lightbridge’s product and service offerings; dependence on strategic partners; any adverse changes to Lightbridge’s agreements or relationship with the U.S. government and its national laboratories; Lightbridge’s ability to fund its future operations, including general corporate overhead and outside research and development expenses, and continue as a going concern; the future market and demand for Lightbridge’s fuel for nuclear reactors and its ability to attract customers; Lightbridge’s ability to manage the business effectively in a rapidly evolving market; Lightbridge’s ability to employ and retain qualified employees and consultants that have experience in the nuclear industry; competition and competitive factors in the markets in which Lightbridge competes, including from accident-tolerant fuels; access to and availability of nuclear test reactors and the risks associated with unexpected changes in Lightbridge’s nuclear fuel development timeline; access to and availability of adequate resources and manufacturing capabilities at national laboratories that affect our nuclear fuel development timeline and project costs; Lightbridge’s ability to deploy and operate a dedicated nuclear fuel fabrication facility; the increased costs associated with metallization of Lightbridge’s nuclear fuel; uncertainties related to conducting business in foreign countries; public perception of nuclear energy generally; changes inlaws, rules, and regulations governing Lightbridge’s business; changes in the political environment; development and utilization of, and challenges to, Lightbridge’s intellectual property domestically and abroad; the volatility of the trading price of Lightbridge’s securities and the potential for purchasers of its securities to incur substantial losses; and 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 a 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.
Neither QNI nor Lightbridge undertakes any obligation to update forward-looking statements except as required by applicable law.
Matthew Abenante, IRC
Director of Investor Relations
Phone: +1 (347) 947-2093
Email: ir@ltbridge.com
QNI Media Contact:
Nicholas Walton, Chief Operating Officer
Phone: 617-544-0035
Email: info@qni.energy
Released July 27, 2026