Lightbridge (LTBR) and Studsvik Scandpower are collaborating on a software extension to model a new nuclear fuel design, the companies said Wednesday.

Financial details weren't provided.

The new design includes metallic fuel rods intended to increase safety levels and improve financial outcomes for reactors, the companies said.

The partnership provides the commercial nuclear sector with a software package for light water reactors, they added.

Shares of Lightbridge were up 2.2% in Wednesday premarket activity.