Engineering company Rolls-Royce is considering the sale of its small modular reactor subsidiary to inject new funding into the company’s overall business plans, the Sunday Telegraph first reported Aug. 3.

The company is looking to raise hundreds of millions, with a current valuation of £1.6 billion ($2 billion), as it sets its sights on being the first to deploy SMRs in the United Kingdom. Rolls-Royce recently cleared step two of the U.K.’s generic design assessment (GDA)—a competition launched in 2023 to bring SMRs on line in the 2030s.