Lightbridge Corporation (Nasdaq: LTBR) and Quadrant Nuclear Industries Inc. (QNI) announced a non-binding memorandum of understanding to explore a long-term supply arrangement for high-assay low-enriched uranium (HALEU) fuel, according to a press release issued July 27, 2026.

Under the agreement, the two companies will discuss potential supply and long-term offtake of HALEU to be produced at QNI's planned Vanguard facility at Idaho National Laboratory. The facility is designed to produce up to 18 metric tons of HALEU annually at full capacity for commercial and government markets.

The MoU covers collaboration on fuel supply planning, technical interface requirements, commercial structuring, regulatory coordination, and logistics. It does not establish pricing, quantity, or exclusivity commitments, and any binding terms would require a separate definitive agreement.

Seth Grae, Chairman and CEO of Lightbridge, said the agreement is aimed at securing a reliable domestic supply of HALEU as the company advances development and regulatory licensing of its Lightbridge Fuel technology.

Dee Mewbourne, CEO of QNI, said the collaboration is intended to establish a framework for a long-term offtake arrangement supporting commercialization of Lightbridge's fuel technology.

QNI is developing its HALEU production capability in coordination with the U.S. Department of Energy. Lightbridge is developing its proprietary fuel technology for existing light-water and pressurized heavy-water reactors, as well as small modular reactors.