Rolls-Royce denies reports that its small nuclear reactor division plans to go public
Rolls-Royce on Saturday denied a report that it is exploring an initial public offering (IPO) for its small nuclear reactor division.
According to sources familiar with the matter, the company is considering raising funds for the division through an IPO and other financing methods, and stated that discussions with investment institutions and banks are still at an early stage.
A spokesperson for the division (Rolls-Royce Small Modular Reactor division) said in an emailed statement: "Rolls-Royce SMR currently has no plans for an initial public offering and is not in the process of pursuing an IPO."
In June this year, the Rolls-Royce Small Modular Reactor (Rolls-Royce SMR) division was selected to build the UK's first small modular reactors (SMR). This is one of the UK's initiatives to accelerate the decarbonization of the power grid from the mid-2030s. The division, majority-owned by the British engineering company, plans to build three reactors.
The UK government has pledged to provide £2.5 billion (equivalent to $3.4 billion) in funding for the small modular reactor project over the next four years, aiming to create one of Europe's first small nuclear industries.
The United States, Canada, Romania, and the Czech Republic are also advancing small modular reactor projects. If the UK's project succeeds, it could open up a vast global market.
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