The LMS-Patriot Company announced in 2015 that they intend to build a new Fowled 2-6-4T locomotive when 45551 is operational.
The Fowler tank was chosen as a successful design and all members of the class were scrapped.
The locomotive will carry the number 42424 which was the number of the last of class to be built and 42425 was allocated to the first Stanier 2-6-4T to be built.
It was planned to build it to main line running standards.
In July 2021 the plan to build 42424 was dropped as the group believed that starting a new build project around 2024 at the earliest was not a wise thing to do as it would cost at least £2.5m and take around ten years to complete.