Lightbridge Corporation (NASDAQ: LTBR) has entered into a partnership with Studsvik Scandpower, Inc. to develop software modeling capabilities for Lightbridge's nuclear fuel design. The collaboration will create an extension of Studsvik's CMS5 Core Management Suite to model the Lightbridge Fuel design for light water reactors.

The partnership aims to provide commercial nuclear operators with software support for Lightbridge's metallic fuel rod design, which the company states will be more economical and safer than traditional nuclear fuel. Lightbridge is developing the fuel technology to improve economics, safety, and proliferation resistance of existing and new reactors.

"As we advance our efforts to license Lightbridge Fuel for use in commercial nuclear power plants, we are pleased to leverage Studsvik's CMS5 software to help drive these initiatives forward," said Seth Grae, President and CEO of Lightbridge.

Art Wharton, President of the Studsvik Scandpower Group, said the company is pleased to partner with Lightbridge as they advance licensing of their fuel product. Studsvik provides technical services to the nuclear power industry including fuel and materials technology, software for core monitoring and fuel optimization, and radioactive waste handling solutions.

Lightbridge is also developing its fuel technology for small modular reactors. The company has framework agreements with Battelle Energy Alliance, the Department of Energy's operating contractor for Idaho National Laboratory, and has received awards from DOE's Gateway for Accelerated Innovation in Nuclear program.

Studsvik employs approximately 540 people across seven countries and is listed on Nasdaq Stockholm. The company has over 75 years of experience in nuclear technology and services.