Mentioned:
One of the largest players in nuclear reactor technology is preparing to go public. And Cameco and Brookfield are behind it.
What’s happening:
- Westinghouse Electric Company has confidentially filed a Form S-1 with the United States Securities and Exchange Commission to raise an IPO financing round and list on a major stock exchange in the United States
Why it matters:
- Westinghouse Electric Company is one of the world’s largest original equipment manufacturers for nuclear reactors globally and sells engineering, components and fuel to large scale utility companies
Going deeper:
- Westinghouse Electric Company’s AP1000 is the only large nuclear reactor design that is certified by the Nuclear Regulatory Commission and is in commercial operations in the United States
- Cameco (NYSE: CCJ) owns 49% of Westinghouse Electric Company and Brookfield Renewable Partners (NYSE: BEP) and their institutional partners own the other 51%
- The United States Department of Commerce previously made major waves when they committed to deploy up to $80B USD of new nuclear reactors with Westinghouse Electric Company in exchange for a 20% interest in any cash distributions made above $17.5B USD by Westinghouse Electric Company
The fine print:
- The exact valuation and financial terms of Westinghouse Electric Company’s IPO have not yet been publicly disclosed
