An energy supplier has said it is looking to secure "long-term funding for growth" as it aims to return to profitability.
Scotland-based Together Energy, which is 50%-owned by Warrington Borough Council, has also hit back at reports it is "racing" to secure a short-term financial boost.
The company is understood to be working with advisers at Alvarez & Marsal to raise additional capital.
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Together Energy is a supplier to more than 170,000 homes and has 350,000 accounts.
In a statement supplied to BusinessLive, the company said: "Together Energy is looking to source strategic long-term funding for growth, not short-term."
According to its most recently-available accounts, for the 12 months to the end of October 2020, the business posted a pre-tax loss of £4.1m.
The funding search comes after energy supplier Bulb was been put into special administration this week.
Warrington Borough Council began its partnership with Together Energy in September 2019, with an £18m investment.
The authority recently hit the headlines when its loan worth more than £150m to the billionaire founder of Manchester-headquartered e-commerce giant THG was revealed.
A council spokesperson said: "Despite the current energy crisis which continues to affect every provider, we are reassured that the company is looking to source strategic long-term funding for growth, not short-term."
