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Net Power Inc.
Net Power has extended the deadline for the Full Notice to Proceed (FNTP) and the Mobilization Payment under its EPC agreement with Saulsbury Industries from October 15, 2026, to March 31, 2027. The agreement also allows for the deferral of a $3.5 million termination payment, provided that the Fourth Amendment and Limited Notice to Proceed (LNTP) are executed and associated payments are made by November 15, 2026.…more
Net Power Inc.
Ned Leland Shuman, a director or officer of Net Power Inc., has filed a Power of Attorney authorizing the company's General Counsel to prepare and file SEC reports on his behalf. This document grants authority to manage EDGAR account filings, including Forms 3, 4, and 5, in compliance with Section 16(a) of the Exchange Act.…more
Net Power Inc.
Net Power has indefinitely suspended its utility-scale oxy-combustion technology development and commercialization agreements with Baker Hughes and amended its existing license agreement. The company will no longer fund further development of the oxy-combustion cycle and previously recorded a $193.7 million non-cash impairment charge on related technology assets in the quarter ended June 30, 2026.…more
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Net Power Extends FNTP Date with Saulsbury to March 2027
Net Power has entered into an agreement to extend the FNTP date with Saulsbury to March 31, 2027. The agreement includes a $3.50 million termination payment clause if specific conditions are not met by November 15.…more
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NET Power announced the indefinite suspension of its utility-scale oxy-combustion joint development and commercial agreements with Baker Hughes affiliates. Consequently, Baker Hughes' access and exclusivity rights to the La Porte facility have been terminated.…more
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Net Power has secured the rights to acquire 123 MW of gas-fired power generation equipment with a $20 million deposit. The company also signed a cost reimbursement agreement with a prospective customer to support its business expansion.…more
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