Highest-materiality recent filing
Net Power re-elects three directors, ratifies KPMG as auditor at 2026 annual meeting
Joseph Kelliher re-elected as Class III director with 169.6M votes for, 4.2M withheld, 17.1M broker non-votes.
Net Power Q1: $319M cash; hires advisor for PPA; FID targeted H2 2026
Q1 2026 cash & investments total ~$319M; no revenue or P&L disclosed in release.
Net Power names Lee Shuman CFO, replacing interim CFO Dan Rice, effective April 13, 2026
Shuman, 56, previously CFO of WattBridge Energy, led $1.6B of senior secured financings and $425M of mezzanine capital.
Net Power reports $379M cash, advances 80MW Permian clean power project
Ended Q4 2025 with ~$379M cash, cash equivalents, and investments.
Net Power withdraws MISO interconnection request on higher upgrade costs
On Dec 29, 2025, notified MISO of intent to withdraw interconnection request due to significantly higher anticipated network upgrade costs.
Net Power shifts strategy to PCC, partners with Entropy, takes impairment on oxy-combustion
Signed LOI with Entropy Inc. to exclusively deploy its PCC tech for US power generation; joint development.
Net Power reports Q2 cash $475M; Project Permian LCOE below $100/MWh
Cash, cash equivalents and investments of $475M as of June 30, 2025.
Net Power director Eunkyung Sung resigns from board, effective immediately
Director Eunkyung Sung resigned from board effective July 10, 2025.
Net Power terminates Tax Receivable Agreement with $0 payment to holders
Early termination notice delivered May 12, 2025; became final on June 12, 2025.
Net Power CAO Kelly Rosser to depart June 15; Caleb Van Dolah appointed principal accounting officer
Kelly Rosser to depart as CAO on June 15, 2025; severance includes six months salary, prorated bonus, healthcare, and acceleration of 41,743 RSUs.
Net Power reports Q1 2025 with over $500M cash; testing on track
Ended Q1 with over $500M in cash, cash equivalents and investments to fund tech development and testing.
Net Power President/COO and CFO depart; CEO takes interim CFO role, new COO named
Brian Allen (President/COO) and Akash Patel (CFO) to leave effective April 15; employment ends May 1, 2025.
NET Power dismisses Grant Thornton as auditor, engages KPMG effective March 17, 2025
Audit committee dismissed Grant Thornton as independent auditor on March 17, 2025; no disagreements or reportable events reported.
Net Power pauses first utility-scale project after FEED costs hit $1.7-2.0B, shifts to optimization
FEED for Project Permian completed; total installed cost estimated $1.7B-$2.0B, above viable threshold.
Net Power reports Q3 cash burn, advances Project Permian FEED and Baker Hughes validation
Cash used in operations ~$8M, capex ~$22M in Q3; ended Q3 with ~$580M cash vs ~$609M in Q2.
Net Power signs $90M long-lead equipment deal with Baker Hughes for first utility-scale plant
Up to $90M for long-lead materials for turboexpander and KPEP for first utility-scale power plant.
Net Power holds annual Investor Day; presentation lacks specific new financial data in filing
Investor Day held September 10, 2024, in Houston, Texas; presentation furnished as Exhibit 99.1.
NET Power Q2 2024 cash $609M, advances La Porte testing and Project Permian
Q2 operating cash outflow ~$8M, capex ~$8M; total cash $609M vs $626M at Q1 2024.
Net Power elects four Class I directors, ratifies auditor at 2024 annual meeting
Ralph Alexander, Fred Forthuber, Carol Peterson, Eunkyung Sung elected as Class I directors until 2027.
Q1 cash used in operations ~$3M; investing ~$106M ($96M securities, $10M capex).
NET Power reports year-end 2023 cash of $637M, no debt; progresses Project Permian FEED
Cash and short-term investments $637M at Dec 31, 2023, no debt; Q4 cash used in ops ~$3M, investing ~$5M.
NET Power reports Q3 cash $645M; Project Permian timeline pushed to H2 2027-H1 2028
Cash and short-term investments $645M, no debt; cash flow from operations ~$0.1M in Q3 2023.
Net Power adopts Executive Severance Plan with 1x to 1.5x severance multiples
Board adopted severance plan on Aug 21, 2023; provides cash severance for eligible executives on qualifying termination.
Net Power reports Q2 2023: $649M cash, no debt; Project Permian FEED underway
Completed business combination with Rice Acquisition Corp. II on June 8, 2023, raising over $670M; began trading on NYSE.
NET Power dismisses Withum, engages Grant Thornton as new auditor
Dismissed WithumSmith+Brown, PC on June 29, 2023; no disagreements with prior auditor.
NET Power completes business combination with Rice Acquisition; begins trading on NYSE
Business combination closed June 8, 2023; NET Power Inc. (formerly RONI) now public under ticker NPWR.
Shareholders approve NET Power business combination; 61% of Class A shares redeemed, closing June 8
Shareholders approved Business Combination, Domestication, Charter, Director Election, and Incentive Plan proposals.
Rice Acquisition Corp II raises additional $15M PIPE for NET Power deal
Entered into subscription agreements on May 25, 2023 to issue 1.5M shares of Class A common stock for $15M.
Rice Acquisition Corp. II secures $50M PIPE from SK and signs JV term sheet for Asia power plants
SK (Tillandsia) agrees to buy 5M shares of Class A common stock at $10/share, $50M total.
RONI secures $275M additional PIPE from Occidental and Rice family for NET Power deal
Occidental increases PIPE commitment by $250M to $350M total; Rice family adds $25M to $125M total.
RONI and NET Power host Analyst Day; no material new financial details presented in excerpt
Analyst Day held March 21, 2023, regarding proposed business combination with NET Power.
Rice Acquisition Corp. II (SPAC) to merge with NET Power; PIPE of $225.45M secured
Business Combination Agreement with NET Power; NET Power holders receive ~135.7M Class A units and Class B shares.
Rice Acquisition Corp. II restates financials; prior filings no longer reliable
Audit Committee concludes previously issued Q2 and Q3 2021 financials should be restated.
CEO Daniel Rice resigns; J. Kyle Derham appointed CEO, James Rogers CFO at Rice Acquisition Corp. II
Daniel Joseph Rice IV resigned as CEO effective Feb 21, 2022 to adhere to overboarding governance guidelines.
Holders of units (RONI U) may elect to separately trade Class A ordinary shares (RONI) and warrants (RONI WS) from August 6, 2021.
Also on June 6, 2025, the Company appointed Caleb Van Dolah as the Company’s principal accounting officer, effective as of June 15, 2025.
On June 6, 2025, it was determined that Kelly Rosser will no longer serve as Chief Accounting Officer of Net Power Inc. (the “Company”), effective as of June 15, 2025 (the “Effective Date”).
Also on April 14, 2025, the Company appointed Daniel J. Rice IV, the Company’s Chief Executive Officer, as President and Interim Chief Financial Officer and Marc Horstman as Chief Operating Officer.
Also on April 14, 2025, the Company appointed Daniel J. Rice IV, the Company’s Chief Executive Officer, as President and Interim Chief Financial Officer and Marc Horstman as Chief Operating Officer.
On April 14, 2025, it was determined that Brian Allen and Akash Patel will no longer serve as President and Chief Operating Officer and Chief Financial Officer, respectively, of Net Power Inc. (the “Company”), effective as of April 15, 2025.
On April 14, 2025, it was determined that Brian Allen and Akash Patel will no longer serve as President and Chief Operating Officer and Chief Financial Officer, respectively, of Net Power Inc. (the “Company”), effective as of April 15, 2025.
each of Jide Famuagun, Carrie M. Fox and James Lytal resigned as a director of RONI.
J. Kyle Derham resigned as the Company’s Chief Executive Officer and James Wilmot Rogers resigned as the Company’s Chief Financial Officer and Chief Accounting Officer.
each of Jide Famuagun, Carrie M. Fox and James Lytal resigned as a director of RONI.
each of Jide Famuagun, Carrie M. Fox and James Lytal resigned as a director of RONI.
J. Kyle Derham resigned as the Company’s Chief Executive Officer and James Wilmot Rogers resigned as the Company’s Chief Financial Officer and Chief Accounting Officer.
Also on February 21, 2022, the Board (i) appointed J. Kyle Derham, age 34, to succeed Mr. Rice as CEO, (ii) removed Mr. Derham as the Company’s Chief Financial Officer (“CFO”) and (iii) appointed James Wilmot Rogers, age 41, as CFO, in each case, effective immediately.
Max materiality 0.85 · Median 0.60 · Most common event other_material