Net Power reports Q3 cash burn, advances Project Permian FEED and Baker Hughes validation

NET Power Inc.

Cash used in operations ~$8M, capex ~$22M in Q3; ended Q3 with ~$580M cash vs ~$609M in Q2.
Signed third LNTP with Baker Hughes for ~$90M for long-lead materials for first utility-scale turboexpander.
Project Permian FEED on track to conclude Q4 2024; initial power expected H2 2027–H1 2028.
Announced Air Liquide as ASU supplier for Project Permian; first phase of Baker Hughes validation commissioning started Oct 2024.
Origination efforts advancing in Alberta, northern MISO, and for gigawatt-scale deployments with data centers.

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