---
schema_version: "secwatch.filing_event.v1"
accession: "0001845437-23-000009"
form_type: "8-K"
ticker: "NPWR"
cik: "0001845437"
company_name: "NET Power Inc."
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T12:40:58.366880+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001845437-23-000009
- form_type: 8-K
- ticker: NPWR
- cik: 0001845437
- company_name: NET Power Inc.
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1845437/000184543723000009/0001845437-23-000009-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1845437/000184543723000009/npwr-20230814.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001845437-23-000009
- JSON: https://secwatch.observer/filing/0001845437-23-000009.json
- Plain text: https://secwatch.observer/filing/0001845437-23-000009.txt

## Key facts
- Earnings Releases
  NET Power Inc. updated its second quarter of 2023 guidance (raised).
  - Period: second quarter of 2023
  - Guidance: raised
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1845437/000184543723000009/0001845437-23-000009-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.