In Q2 2025, Net Power continued development of its proprietary Net Power Cycle technology and advanced major projects, including Project Permian and a MISO project, despite reporting no revenue. The company ended the quarter with $475M in cash, cash equivalents, and investments, and announced significant cost optimizations, improved project economics from recent legislation, and a plan to integrate simple cycle gas turbines into its designs.

Net Power maintained strong liquidity with over $500 million in cash, cash equivalents, and investments, which is expected to fund technology development and testing. The company continued its cost reduction initiative for Project Permian, progressed a modular multi-unit feasibility study, and advanced equipment validation testing at its La Porte demonstration facility, with Phases 1 and 2 expected to be completed in 2025.

Net Power made steady progress on commercializing its clean, firm power solution, completing major plant upgrades for Baker Hughes' equipment validation program at their La Porte, Texas demonstration plant and advancing their first utility-scale plant deployment, Project Permian, which is on schedule.

NET Power reported continued site work at La Porte demonstration facility, advanced FEED work for Project Permian, and accelerated prospecting and site evaluation for multiple originated projects in North America. The company ended the quarter with approximately $609 million in total cash, cash equivalents and investments.

NET Power reported its Q1 2024 results, highlighting progress in technology development, project backlog, and supply chain establishment. The company continues site work at La Porte, advanced FEED work for Project Permian, and filed an interconnection application for OP1.

NET Power made progress on its corporate strategy, including finalizing the design for a utility-scale plant and preparing for equipment demonstrations at its La Porte test facility. The company is experiencing supply chain challenges, leading to a 12-month delay in the expected schedule for Project Permian, now anticipated to achieve initial power generation between the second half of 2027 and the first half of 2028. They ended the quarter with approximately $645 million in cash and short-term investments and no debt.