Pursuant to the Enfission operating agreement, both partners agreed that Enfission will serve as an exclusive vehicle to develop, license, and sell nuclear fuel assemblies based on Company-designed metallic fuel technology and other advanced nuclear fuel intellectual property licensed to Enfission by the Company and Framatome or their affiliates. The joint venture builds on the joint fuel development and regulatory licensing work under previously signed agreements initiated in March 2016.

The Enfission operating agreement provided that the Company and Framatome each hold 50% of the total issued Class A voting membership units of the joint venture.

The Company's equity in losses in excess of its investment are accounted for under the equity method consisted of the following as of December 31, 2018 (rounded in millions):

The Company invested approximately $5.6 million in Enfission as of December 31, 2018. The cash balance in Enfission at December 31, 2018 was approximately $0.7 million. During the year ended December 31, 2018, Enfission incurred a loss of approximately $7.7 million, and accordingly, the Company recorded its share of the loss in investment in Enfission, in accordance with the provisions in the joint venture operating agreement, of approximately $5.8 million in the accompanying consolidated statement of operations. The Company’s share of the joint venture losses for the period ended December 31, 2018 have exceeded its capital contributions by approximately $0.2 million and as a result, in accordance with equity method accounting, its share of the equity losses in excess of the equity contributions made in 2018 have been recorded as investee loss in excess of investment, under the current liability section of the accompanying balance sheets.

We were committed to fund Enfission for our share of its liabilities at December 31, 2018. The Company will continue providing additional equity contributions in 2019 and for the foreseeable future.

Summarized balance sheet information for the Company’s equity method investee Enfission as of December 31, 2018 is presented in the following table (rounded in millions):

Summarized income statement information for the Company’s equity method investee Enfission is presented in the following table for the year ended December 31, 2018 (rounded in millions):

As of December 31, 2018, the total receivable due from Enfission was approximately $0.1 million, which represents consulting fees Lightbridge charged to Enfission and reimbursable expenses paid by Lightbridge on Enfission’s behalf (see Note 11. Related Party Transactions). Based on an evaluation of this equity method investment, we determined that no OTTI has occurred as of December 31, 2018.