Net Power pauses first utility-scale project after FEED costs hit $1.7-2.0B, shifts to optimization

NET Power Inc.

FEED for Project Permian completed; total installed cost estimated $1.7B-$2.0B, above viable threshold.
Long-lead equipment releases paused; value engineering underway; project now expected no earlier than 2029.
Launched modular multi-unit feasibility study for up to 1 GW plants to reduce future costs.
La Porte facility achieved 140 fired hours in Phase 1 testing with Baker Hughes; on track for 2025 completion.
Cash and investments at $533M (down from $580M Q3) used for La Porte upgrades and SN1 development.

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