Lightbridge (LTBR) Investor presentation summary

Technology and product overview

• Advanced nuclear fuel operates ~1000°C cooler than standard fuel, enhancing safety, economics, and proliferation resistance.

• Enables power uprates, extended fuel cycles, and produces less plutonium than conventional fuel.

• Compatible with most existing, under-construction, and planned reactors, including SMRs.

• Features include absence of spacer grids, metallurgic bonding, increased cladding thickness, and no fuel-clad gap, improving durability and safety.

• Designed for superior load-following, supporting grid flexibility and integration with renewables.

Market opportunity and industry drivers

• Addressable market includes 419 water-cooled reactors worldwide, with a $16.7B global market and $4B U.S. market.

• U.S. bipartisan policies and Department of Energy funding accelerate nuclear innovation.

• COP28 agreement targets tripling global nuclear capacity by 2050 to 1,110 GWe.

• Coal-to-nuclear transition could repurpose 190 U.S. coal sites, doubling current nuclear capacity.

• Enhanced reactor margins projected to increase annual gross revenue by $60M per large reactor.

Recent milestones and collaborations

• Achieved advanced co-extrusion of uranium-zirconium alloy with nuclear-grade cladding, demonstrating commercial-scale potential.

• Entered a seven-year strategic partnership with Idaho National Laboratory for fuel development and irradiation testing.

• Launched engineering study in Romania for CANDU reactor compatibility, showing potential to double discharge burnup.

• Collaborations with Oklo focus on co-located fabrication and advanced fuel recycling.

• DOE-funded studies with MIT and Texas A&M explore accident-tolerant fuels and performance in SMRs.