Cameco’s Westinghouse nuclear power venture files for IPO
Cameco owns 49% of Westinghouse, while Brookfield Renewable Partners controls 51% after a $7.9M deal in 2022.
Cameco, a Saskatoon-based company, announced on Friday that its joint venture with Westinghouse Electric has filed for an Initial Public Offering (IPO) in the United States. The joint venture, which currently holds a 49% stake in Westinghouse, aims to capitalize on the growing interest in nuclear technology and services among investors.
The company revealed this development while publishing its second-quarter financial results, which showed a net loss of $10 million, down from a profit of $126 million in the same quarter last year. The upcoming IPO filing is a step that was anticipated since October 2025, and its timing could be several years ahead of the initial expectations, according to analysts.
The U.S. government has also partnered with Westinghouse, potentially investing $17.5 billion in the construction of at least 80 AP1000 reactors across the country, with an aim to quadruple the nation's nuclear energy capacity by 2050.
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