Lightbridge Corporation Enters into Engineering Contract with Stern Laboratories

Lightbridge (Nasdaq: LTBR) entered an initial engineering contract with Stern Laboratories to assess the thermal‑hydraulic (TH) performance of Lightbridge Fuel for light water reactors.

Rhea-AI Summary

Lightbridge (Nasdaq: LTBR) entered an initial engineering contract with Stern Laboratories to assess the thermal‑hydraulic (TH) performance of Lightbridge Fuel for light water reactors. The multi‑phase program includes electrically heated fuel simulator design, single‑ and nine‑rod CHF tests (600–2,200 psia), and a multi‑year testing program to support U.S. licensing. Phase 1 is estimated to take approximately one year to complete.

Positive

• Signed engineering contract with Stern Laboratories to test Lightbridge Fuel
• Phase 1 timeline: estimated ~1 year to complete design and single‑rod CHF tests
• High‑pressure testing scope: CHF investigations at up to 2,200 psia (steam‑water)
• Program supports U.S. licensing with a multi‑year TH test plan

Negative

• Contract is initial engineering work; does not itself confer regulatory approval
• Multi‑year program implies extended timeline before potential commercial deployment

Argus Mar 18 session

-4.85% close to close Open Argus

Details

News Market Reaction – LTBR

In the Mar 18 session, LTBR declined 4.85%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement marks a detailed engineering step, adding a multi-phase thermal‑hydraulic test pro...

Analysis

This announcement marks a detailed engineering step, adding a multi-phase thermal‑hydraulic test program with Stern Labs to support U.S. licensing of Lightbridge Fuel for light water reactors. It builds on prior milestones such as irradiation testing at INL and DOE nuclear expansion initiatives. Investors may track Phase 1 completion in about 1 year, subsequent multi‑rod testing, and how resulting data feed into regulatory filings and long‑term commercialization plans.

Key Figures

Single-rod CHF pressure: 1,450 psia Multi-rod CHF pressure (low): 600 psia Multi-rod CHF pressure (high): 2,200 psia +5 more

Single-rod CHF pressure

1,450 psia

Phase 1 steam-water critical heat flux investigation

Multi-rod CHF pressure (low)

600 psia

Phase 2 nine-rod steam-water critical heat flux testing

Multi-rod CHF pressure (high)

2,200 psia

Phase 2 nine-rod steam-water critical heat flux testing

Phase 1 duration

1 year

Estimated time to complete Phase 1 TH test work

Phase 2 configuration

Nine-rod

Critical heat flux investigation for Lightbridge Fuel

Program length

Multi-year

Phase 3 TH test program for U.S. LWR licensing support

Additional nuclear capacity 2027

2.5 GW

DOE UPRISE initiative referenced in prior LTBR news

Additional nuclear capacity 2029

5 GW

DOE UPRISE initiative referenced in prior LTBR news

Historical Context

5 past events · Latest: Mar 16

5 events

1. Mar 16

   Policy support news

   24h Move

   +1.5%

   DOE UPRISE initiative highlighting nuclear expansion and Lightbridge positioning.

2. Feb 25

   Earnings and update

   24h Move

   +0.7%

   Fiscal 2025 results with higher loss but strong cash and R&D ramp.

3. Feb 10

   Earnings call notice

   24h Move

   -4.7%

   Scheduling of earnings release and business update conference call.

4. Jan 14

   Investor conferences

   24h Move

   +10.2%

   Participation in multiple investor and nuclear sector conferences and events.

5. Nov 19

   Testing milestone

   24h Move

   +0.7%

   Start of irradiation testing of alloy samples at INL’s Advanced Test Reactor.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

thermal hydraulic, light water reactors, critical heat flux, electrically heated fuel simulator, +3 more

7 terms

thermal hydraulic technical

"to assess the thermal and hydraulic (“TH”) performance of Lightbridge Fuel"

Thermal hydraulic describes the combined behavior of heat and fluids—how temperature changes affect the movement, pressure and cooling of liquids or gases in equipment like reactors, pipes or heat exchangers. For investors, it matters because thermal-hydraulic performance drives safety, efficiency, maintenance needs and regulatory approval; think of it as how well a car’s cooling system prevents overheating, which influences operating costs and risk.

light water reactors technical

"performance of Lightbridge Fuel for use in Light Water Reactors (“LWRs”)."

Light water reactors are a common type of nuclear power plant that use ordinary (light) water both to cool the reactor core and to slow particles from the chain reaction so heat is produced safely; that heat turns water to steam, which drives turbines to generate electricity, like a kettle boiling water to spin a wheel. Investors care because these reactors use well‑established technology and supply chains and sit inside familiar regulatory regimes, which helps shape project costs, financing options and the predictability of long‑term energy revenue and risk.

critical heat flux technical

"single-rod critical heat flux (CHF) investigation (steam-water, up to 1,450 psia);"

Critical heat flux is the highest rate at which a surface or system can shed heat before its normal cooling suddenly fails and temperatures spike, often because a layer of vapor or insulation forms and stops effective heat transfer. For investors, it matters because it sets practical limits on the safe performance, efficiency and lifetime of products or plants—like batteries, reactors or data centers—and can drive redesigns, downtime, regulatory costs or warranty risks if exceeded.

electrically heated fuel simulator technical

"Design and fabrication of an electrically heated fuel simulator; acceptance testing;"

An electrically heated fuel simulator is a laboratory test device that mimics how real fuel flows and heats up inside engines, pumps or fuel lines by circulating a fluid and raising its temperature with electric heaters. Investors should care because it’s used to validate product performance, safety and regulatory compliance—much like using a controlled oven and faucet to rehearse every cooking and pouring scenario before releasing a final appliance—reducing the risk of recalls, delays or liability.

thermal margins technical

"demonstrate the improved thermal margins of Lightbridge Fuel in LWRs"

Thermal margins measure the buffer between a system’s actual heat load and the maximum safe or efficient temperature it can tolerate; think of it like the gap between a car engine running normally and the point where it would overheat. For investors, this buffer signals operational risk and flexibility—narrow margins raise the chance of shutdowns, higher maintenance or regulatory costs, and lost production, while wider margins mean more reliable, lower‑risk operations.

fuel qualification program technical

"represents a significant step forward in our fuel qualification program."

A fuel qualification program is a structured set of tests and approvals that confirm a new or modified fuel meets safety, performance, emissions and compatibility requirements for specific engines or vehicles before it can be used commercially. It matters to investors because passing the program is like getting a product safety stamp that unlocks sales, contracts and broader market adoption, while delays or failures add costs, regulatory risk and push back revenue timelines.

nuclear fuel simulators technical

"expertise in manufacturing electrically heated nuclear fuel simulators and performing"

Nuclear fuel simulators are non-radioactive materials or devices that mimic the physical, thermal and neutronic behavior of real nuclear fuel so equipment, sensors and procedures can be tested without using hazardous radioactive material. For investors, they matter because they enable safer, cheaper development, testing and regulatory approval of reactor components and monitoring systems—like crash-test dummies for cars, they reduce risk and speed product development while protecting operations and compliance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Thermal Hydraulic Test Program to Support U.S. Licensing of Lightbridge Fuel™ for Light Water Reactors

RESTON, Va. and HAMILTON, Ontario, March 18, 2026 (GLOBE NEWSWIRE) -- Lightbridge Corporation (“Lightbridge” or the “Company”) (Nasdaq: LTBR), an advanced nuclear fuel technology company, and Stern Laboratories Inc. (“Stern Labs”), a leading employee-owned Canadian provider of specialized nuclear experimental services and tooling to the nuclear industry, today announced that Lightbridge has entered into an initial engineering contract and statement of work with Stern Labs to assess the thermal and hydraulic (“TH”) performance of Lightbridge Fuel for use in Light Water Reactors (“LWRs”).

Under the terms of the agreement, Stern Labs will provide laboratory services at its test facility in Hamilton, Ontario, Canada, to assess the TH performance of Lightbridge Fuel for LWRs.

The work will be carried out in multiple phases, including:

• Phase 1: Design and fabrication of an electrically heated fuel simulator; acceptance testing; and single-rod critical heat flux (CHF) investigation (steam-water, up to 1,450 psia);
• Phase 2: Nine-rod critical heat flux investigation, steam-water at 600 to 2200 psia; and
• Phase 3: A multi-year TH test program to support the licensing of Lightbridge Fuel for the U.S. domestic LWR fleet.
  
  

Phase 1 is estimated to take approximately one year to complete.

Birol Aktas, Manager of the Thermal Hydraulics and Safety Analysis Group at Lightbridge, stated, “This contract with Stern Labs represents a significant step forward in our fuel qualification program. Stern Labs’ expertise in manufacturing electrically heated nuclear fuel simulators and performing full-scale CHF and component qualification tests makes them an ideal partner. Data from this program will demonstrate the improved thermal margins of Lightbridge Fuel in LWRs and support U.S. licensing for commercial deployment.”

Gordon Hadaller, President of Stern Laboratories Inc., stated, “We are pleased to partner with Lightbridge on this important experimental program. Stern Labs has a long history of providing high-quality laboratory services to the global nuclear industry, and we look forward to applying our expertise to assess the performance of Lightbridge’s innovative fuel technology.” 

About Stern Laboratories Inc.
Stern Laboratories Inc. is an employee-owned private Canadian company, established in 1988 and headquartered at 1590 Burlington Street, Hamilton, Ontario, Canada. Stern Labs provides custom fuel simulations, conducts advanced reliability and safety experiments, and designs and fabricates fuel inspection tooling for nuclear industry partners globally. The reliability and safety experiments include component qualification, TH experiments, and various safety scenario simulations. For more information, please visit: https://sternlab.com.

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.

To receive Lightbridge Corporation updates via e-mail, subscribe at https://www.ltbridge.com/investors/news-events/email-alerts  

Lightbridge is on YouTube. Subscribe to access past demonstrations, interviews, and other video content at https://www.youtube.com/@lightbridgecorporation

Lightbridge is on X (formerly Twitter). Sign up to follow @LightbridgeCorp at http://twitter.com/lightbridgecorp. 

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

FAQ

What did Lightbridge (LTBR) and Stern Laboratories agree to on March 18, 2026?

They signed an initial engineering contract to assess thermal‑hydraulic performance of Lightbridge Fuel for LWRs. According to Lightbridge, the work includes simulator design, single‑ and nine‑rod CHF tests and a multi‑year test program to support U.S. licensing.

How long will Phase 1 of the Lightbridge (LTBR) test program take?

Phase 1 is estimated to take approximately one year to complete. According to Lightbridge, Phase 1 covers design and fabrication of an electrically heated fuel simulator, acceptance testing and single‑rod CHF investigation.

What thermal‑hydraulic tests will Stern Laboratories perform for LTBR?

Stern Labs will perform single‑rod and nine‑rod critical heat flux (CHF) investigations in steam‑water conditions. According to Lightbridge, tests cover pressures from 600 to 2,200 psia and CHF work up to 1,450 psia for initial single‑rod tests.

Will the Stern Labs contract guarantee U.S. licensing for Lightbridge (LTBR) fuel?

No, the contract supports the licensing process but does not guarantee approval. According to Lightbridge, the multi‑year TH test program is intended to provide data to support U.S. licensing for commercial deployment.

Where will the Lightbridge (LTBR) thermal‑hydraulic tests be performed?

Tests will be carried out at Stern Laboratories' test facility in Hamilton, Ontario, Canada. According to Lightbridge, Stern Labs will provide laboratory services including manufacturing electrically heated fuel simulators and performing full‑scale CHF tests.