By Sabela Ojea
Shares of Lightbridge climbed Tuesday after the company said it signed a memorandum of understanding with Oklo to co-locate a Lightbridge commercial-scale fuel fabrication facility at Oklo's proposed commercial fabrication facility.
The stock was up 17% to $7.24 in morning trading. Shares have surged 55% since the beginning of the year.
The developer of nuclear fuel technology said the deal with Oklo, a nuclear power and fuel recycling company, includes plans for collaboration in recycling nuclear waste.
"The potential co-location of our commercial fuel fabrication facilities could offer significant synergies in terms of upfront capital expenditures and ongoing operating costs," Lightbridge Chief Executive Seth Grae said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
January 28, 2025 11:27 ET (16:27 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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