Net Power reports Q2 2023: $649M cash, no debt; Project Permian FEED underway

NET Power Inc.

Completed business combination with Rice Acquisition Corp. II on June 8, 2023, raising over $670M; began trading on NYSE.
Danny Rice named CEO; corporate strategy focuses on technology proof, commercial backlog, and manufacturing by 2030.
FEED initiated for first utility-scale project 'Project Permian' in West Texas with Zachry Group as EPC partner.
Baker Hughes advancing utility-scale combustor/turboexpander; La Porte demo plant preparation for testing underway.
Cash and cash equivalents $649M with no debt; 246M fully diluted shares outstanding.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.92

NET Power Inc. updated its second quarter of 2023 guidance (raised).

Period: second quarter of 2023
Guidance: raised
Result: reported results

Exact text from the filing

NET Power Inc., a Delaware corporation, issued a press release setting forth its financial results for the three and six months ended June 30, 2023.

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44 earnings releases filed in the last 30 days. Browse all earnings releases →

NET Power Inc. filing history →

Source: SEC EDGAR

accession 0001845437-23-000009

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