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Rolls-Royce is preparing to sell a stake in its small nuclear reactor business to secure additional funding.
The company’s Chief Executive, Tufan Erginbilgic, confirmed that they are in discussions with potential investors.
According to The Sunday Telegraph, the firm could run out of cash by early next year.
Rolls-Royce is reportedly being advised by BNP Paribas and has attracted interest from various investors, such as infrastructure funds, clean energy funds, hedge funds and other nuclear power companies.
A source familiar with the matter said Rolls-Royce is looking to raise hundreds of millions of pounds.
This comes as Rolls-Royce is close to securing a government contract through Great British Nuclear (GBN) to develop Small Modular Reactors (SMRs).
These reactors are smaller versions of traditional nuclear power plants.
GBN will select two designs from several competitors, including Rolls-Royce, GE Hitachi, Holtec Britain, Nuscale and Westinghouse.
A Rolls-Royce SMR spokesperson told Energy Live News: “Our first mover advantage combined with the significant growth in demand for SMRs, puts Rolls-Royce SMR in a leading position to capitalise on this global decarbonisation opportunity.
“Naturally this is attracting investor interest and we continue to consider a range options to support our future growth.”
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