Highest-materiality recent filing
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 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 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 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 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 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 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.
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.
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