NET Power reports year-end 2023 cash of $637M, no debt; progresses Project Permian FEED

NET Power Inc.

Cash and short-term investments $637M at Dec 31, 2023, no debt; Q4 cash used in ops ~$3M, investing ~$5M.
Front-End Engineering & Design (FEED) for Project Permian ongoing; expected to conclude H2 2024 as basis for standardized plant design.
Signed Limited Notice to Proceed (LNTP) with Baker Hughes for long-lead turboexpander materials; validation at La Porte starts late 2024.
Signed strategic supplier agreement with Lummus Technology to design and supply recuperative heat exchangers for NET Power's power cycle.
No revenue or net income disclosed; company remains pre-revenue development stage.

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 1.0

NET Power Inc. reported financial results for fourth quarter and year end 2023.

Period: fourth quarter and year end 2023
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 year ended December 31, 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 0001845437-24-000005

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