NET Power Inc.
4.1400+0.69 (+20%)
Oct 29, 4:00:02 PM EDT · NYSE · NPWR · USD
Key Stats
Market Cap
322.44MP/E (TTM)
-Basic EPS (TTM)
-2.36Dividend Yield
0%Recent Filings
8-K
Integrated turbine config boosts economics
Net Power unveiled an integrated product configuration blending simple cycle gas turbines with its Net Power Cycle, targeting 50MW-200MW capacity for faster, cheaper power delivery at Project Permian with LCOE under $100/MWh. This setup, plus SN1 cost cuts to $1.6-1.9 billion and OBBBA tax boosts adding ~$20/MWh savings, slashes Permian LCOE by over 33 percent. Cash reserves stand at $475 million. Testing resumes at La Porte.
10-Q
Q2 FY2025 results
Net Power's Q2 FY2025 results showed no revenue, mirroring last year, but operating expenses surged 101% y/y to $90.6M, driven by $27.2M in project development costs for the paused Project Permian and $26.6M in R&D under the BHES JDA, yielding an operating loss of $90.6M, up 102% y/y. Yet non-cash gains from warrant and earnout adjustments added $1.4M, while interest income fell 39% y/y to $5.5M on lower balances; net loss attributable to the company widened to $28.1M from $4.3M. The six-month operating loss ballooned to $565.1M, including a $415.9M goodwill impairment from business plan shifts and market cap drop, with net loss at $147.5M versus $15.7M last year—EPS reconciles at -$1.91 on 77.4M diluted shares, no anti-dilution flagged. Cash burn quickened to $45.2M, leaving $284.0M in equivalents plus $188.3M in securities for liquidity; no debt, but $29.5M due to related parties. Project Permian value engineering continues, eyeing 2029 online. Litigation over Permian disclosures lingers.
8-K
Board member resigns immediately
8-K
TRA terminated with zero payment
NET Power Inc. terminated its Tax Receivable Agreement with Opco unitholders on June 12, 2025, after delivering an early termination notice on May 12, 2025, that calculated a $0.00 payment to each holder. The agreement, entered in 2023, had required the company to share 75% of tax savings from Opco unit exchanges. Termination eliminates future obligations. No payments due.
8-K
CFO transition and board elections
Net Power Inc. announced on June 6, 2025, that Kelly Rosser will depart as Chief Accounting Officer effective June 15, 2025, receiving six months' salary, pro-rated 2025 bonus, six months' healthcare coverage, and immediate vesting of 41,743 restricted stock units. Caleb Van Dolah, the company's Controller since May 2024 with prior roles at Urban Grid Solar Projects and Grant Thornton, steps in as principal accounting officer on the same date. At the June 3 annual meeting, stockholders elected Jeff Bennett, Kyle Derham, and Alejandra Veltmann as Class II directors until 2028 and ratified KPMG LLP as auditors for 2025. Leadership transition ensures continuity amid routine governance updates.
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