NET Power extends Saulsbury EPC notice-to-proceed deadline to March 31, 2027 from October 15

NET Power Inc.

Agreement to Extend FNTP Date, effective Oct 15, 2026, pushes the full notice-to-proceed and Mobilization Payment deadline to March 31, 2027.
Extension defers the $3.5M termination fee to Saulsbury only if the Fourth Amendment and a limited notice to proceed (LNTP) are executed and LNTP payments made by Nov 15, 2026.
If those are not executed or paid by Nov 15, 2026, Net Power must pay Saulsbury $3.5M within 10 days of written demand and invoice.
Net Power, LLC took over EMPower USA's Owner position under the Dec 15, 2025 Saulsbury EPC contract via an Aug 27, 2026 consent to assignment.
Company cites no committed equipment or project-level financing, no final investment decision; EMPower consideration is nonrefundable and Wärtsilä equipment spend may not be recovered.

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