Lightbridge Corporation

Please note that today's call is being recorded. It is now my pleasure to introduce Matthew Abernathy, Director of Investor Relations for Lightbridge Corporation. You may begin.

Thank you, Tawanda, and thanks to all of you for joining us today. Our earnings press release was distributed earlier today and can be viewed on the Investor Relations page of the Lightbridge website at www.ltbridge.com. Joining us on the call today is Seth Gray, Chief Executive Officer, along with Andrei Mushikov, Executive Vice President for Nuclear Operations, Larry Goldman, Chief Financial Officer, and Sherry Holloway, Controller. I want to remind our listeners that any statements on this call that are not historical facts are forward-looking statements. Today's presentation includes forward-looking statements about the company's competitive position and product and service offerings. During today's call, words such as expect, anticipate, believe, and intend will be used in our discussion of goals or events in the future. This presentation is based on current expectations and involves certain risks and uncertainties that may cause actual results to differ significantly from such estimates. These and other risks are set forth in more detail in Lightbridge's filings with the Securities and Exchange Commission. Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as a result of new developments or otherwise. With that, I'd like to turn the call over to our first speaker, Seth Gray, Chief Executive Officer of Lightbridge. Hello, Seth.

Hello, Matt, and thank you all for joining us to discuss Lightbridge's first quarter 2025 results. The first quarter of 2025 has been marked by significant operational progress. and continued positive momentum in the nuclear energy sector. At Lightbridge, we successfully demonstrated our proprietary co-extrusion manufacturing process at Idaho National Laboratory, a special fabrication technique that combines two key elements, a uranium-zirconium fuel mixture surrounded by a protective zirconium alloy outer layer called cladding. Using specialized equipment, we created an eight-foot-long fuel coupon sample. We believe our collaboration with Oklo can open promising avenues for future fabrication and fuel cycle synergies. Furthermore, ongoing engineering work continues to confirm the potential benefits of light-bridge fuel across various reactor types, from existing large plants to can-do reactors and SMRs. The momentum behind nuclear energy continues to build globally, solidifying its essential role in achieving a secure, reliable, and clean energy future. We are witnessing a paradigm shift driven by unprecedented government support, growing public acceptance, and increasing demand from energy-intensive industries seeking dependable power. Recent events, particularly the blackout in Spain, emphasize the critical need for resilient baseload energy sources. A role nuclear power is uniquely well suited to fill. In November, I was at COP 29 in Baku when the US government announced its policy to triple nuclear power domestically by 2050. That was almost six months ago, and projected power needs are surging since then. News broke over the weekend of potential executive orders relating to quadrupling U.S. nuclear power by 2050 and providing DOE the authority to fast-track development of advanced nuclear plants built for the purpose of powering data centers that house AI applications. This global nuclear resurgence is about building new reactors, license extensions, and power upgrades for existing plants, restarting idle facilities, and advancing SMRs. Major technology companies are increasingly looking to nuclear power to meet the immense energy demands of data centers and artificial intelligence infrastructure, validating nuclear energy's position as a cornerstone technology for the 21st century. This environment is helping to drive LightBridge's progress. We believe our innovative LightBridge fuel technology will be a key enabler of this transition. Our proprietary all metal fuel design is engineered to deliver significant economic and safety benefits for existing and future water cooled reactors. These advantages are becoming increasingly critical as the world seeks to maximize the output and safety of nuclear assets. We operate in a dynamic and supportive landscape. and we believe LightBridge is well positioned to capitalize on the growing demand for advanced nuclear technologies. Our focus remains steadfast on executing our development plan, demonstrating the capabilities of LightBridge fuel, and ultimately contributing meaningfully to a growing economy and energy security. Now I'll turn the call over to Andrei Mushakov, Executive VP for Nuclear Operations, to begin the review of our fuel development activities. Andre?