Net Power Earnings Reports

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.