NET Power Demonstration Facility

NET Power and Lummus Sign Strategic Supplier Agreement for Heat Transfer Equipment

Retrieved on: 
Wednesday, December 6, 2023
Alternative Energy, Energy, Oil, Gas, Permian, Carbon, NYSE, CO2, NET Power Demonstration Facility, NET, Electricity, Teen Power Inc., Renewable energy, Lummus

NET Power Inc. (NYSE: NPWR) (“NET Power”) announced today that it has signed a Strategic Supply Agreement with Lummus Technology to design and supply recuperative heat exchangers (“HXR”) for NET Power’s near-zero emissions power generation process.

Key Points: 
  • NET Power Inc. (NYSE: NPWR) (“NET Power”) announced today that it has signed a Strategic Supply Agreement with Lummus Technology to design and supply recuperative heat exchangers (“HXR”) for NET Power’s near-zero emissions power generation process.
  • As the licensed NET Power HXR supplier, Lummus will provide HXR systems for NET Power’s utility-scale power plants.
  • The NET Power Cycle HXR leverages Lummus’ decades of experience in heat transfer equipment design and delivery for proprietary systems.
  • We look forward to working with NET Power to deliver low carbon power and helping them expand their offering worldwide.”

NET Power Reports Third Quarter 2023 Results and Provides Business Update

Retrieved on: 
Tuesday, November 14, 2023
Alternative Energy, Energy, Oil, Gas, Permian, Carbon, FEED, NYSE, Investment, Exercise, Front-end loading, Common stock, CO2, NET Power Demonstration Facility, Hand, NET, Common, Teen Power Inc., EPC, Architecture, Construction, Renewable energy

NET Power Inc. (NYSE: NPWR) (“NET Power” or the “Company”) today reported results for the third quarter of 2023.

Key Points: 
  • NET Power Inc. (NYSE: NPWR) (“NET Power” or the “Company”) today reported results for the third quarter of 2023.
  • Danny Rice, Chief Executive Officer of NET Power, commented, “We continue to make good progress on all three pillars of our previously outlined corporate strategy.
  • Capitalized expenditures associated with ongoing development of Project Permian totaled $2.5 million in the third quarter of 2023.
  • NET Power will host a conference call to discuss third quarter 2023 financial results beginning at 8:30 AM ET on Tuesday, November 14.

Lummus and NET Power Sign Strategic Supplier Agreement for Heat Transfer Equipment

Retrieved on: 
Wednesday, December 6, 2023
Permian, Carbon, FEED, NYSE, Sulfur oxide, Carbon dioxide, NOx, CO2, NET Power Demonstration Facility, Nitrogen, NET, Electricity, Renewable energy, Lummus

HOUSTON, Dec. 6, 2023 /PRNewswire/ -- Lummus Technology announced it has signed a Strategic Supply Agreement with NET Power Inc. (NYSE: NPWR) ("NET Power") to design and supply recuperative heat exchangers ("HXR") for NET Power's near-zero emissions power generation process. The HXR recovers energy from the turboexpander exhaust and air separation unit to reheat recirculated CO2, making it one of the most important equipment components in the NET Power Cycle.

Key Points: 
  • Agreement Aligns with and Strengthens Lummus' Commitment to Decarbonizing Its Technology Portfolio, Including Proprietary Equipment
    HOUSTON, Dec. 6, 2023 /PRNewswire/ -- Lummus Technology announced it has signed a Strategic Supply Agreement with NET Power Inc. (NYSE: NPWR) ("NET Power") to design and supply recuperative heat exchangers ("HXR") for NET Power's near-zero emissions power generation process.
  • "The NET Power Cycle system combines seamlessly with our advanced heat exchanger technology to minimize energy consumption and carbon emissions.
  • As the licensed NET Power HXR supplier, Lummus will provide HXR systems for NET Power's utility-scale power plants.
  • The NET Power Cycle HXR leverages Lummus' decades of experience in heat transfer equipment design and delivery for proprietary systems.

Hilco Redevelopment Partners Announces Advisory Board

Retrieved on: 
Wednesday, October 11, 2023
University, Corps, Foundation (nonprofit), Penn, 412th Engineer Command (United States), Rockefeller Foundation, Aero Commander, Central Waqf Council, U.S. Army Corps of Engineers, Europe District, HRP, NET Power Demonstration Facility, City, RET, Environmental law, Management

CHICAGO, Oct. 11, 2023 /PRNewswire/ -- Hilco Redevelopment Partners (HRP), a vertically integrated real estate investment and redevelopment company that reimagines, remediates, and redevelops complex industrial sites across the United States, today announced the appointment of four national leaders to the company's corporate advisory board: Dr. Judith Rodin, President Emerita of the University of Pennsylvania and former President of the Rockefeller Foundation; Lieutenant General Thomas P. Bostick (Ret.), former Commanding General of the U.S. Army Corps of Engineers; Ron DeGregorio, former CEO of NET Power and President of Exelon Power; and Michael K. Ohm, leading environmental attorney and former Managing Partner of Bryan Cave Leighton Paisner LLP.

Key Points: 
  • Leading Transformational Redevelopment Company Names Former Penn President; Former U.S. Army Corps of Engineers Commanding General; National Energy Industry and Environmental Law Leaders to Corporate Advisory Board
    CHICAGO, Oct. 11, 2023 /PRNewswire/ -- Hilco Redevelopment Partners (HRP), a vertically integrated real estate investment and redevelopment company that reimagines, remediates, and redevelops complex industrial sites across the United States, today announced the appointment of four national leaders to the company's corporate advisory board: Dr. Judith Rodin, President Emerita of the University of Pennsylvania and former President of the Rockefeller Foundation; Lieutenant General Thomas P. Bostick (Ret.
  • "HRP is a transformation company and we are privileged to have these transformational leaders join our team," said HRP CEO Roberto Perez.
  • The HRP advisory board will leverage their broad expertise to counsel the company on all facets of business and corporate strategy.
  • Additionally, the advisory board will assist the company with key growth initiatives and help HRP continue to enhance its holistic approach to development and progress its core principles of economic, environmental, and community sustainability.

NET Power Reports Second Quarter 2023 Results and Provides Business Update

Retrieved on: 
Monday, August 14, 2023
Energy, Utilities, Oil, Gas, Permian, Exercise, Common stock, ERCOT, SN1, SK Group, NET Power Demonstration Facility, EPC, Teen Power Inc., NET, Front-end loading, FEED, JV, Plant, Oxy, CO2, Transport, Power station, NYSE, Common

NET Power Inc. (NYSE: NPWR) (“NET Power” or the “Company”) today reported results for the second quarter of 2023.

Key Points: 
  • NET Power Inc. (NYSE: NPWR) (“NET Power” or the “Company”) today reported results for the second quarter of 2023.
  • “Our first quarter as a public company is an important milestone for NET Power,” said Danny Rice, Chief Executive Officer of NET Power.
  • In the second quarter of 2023, NET Power accelerated site origination work and applied for an interconnection with ERCOT.
  • NET Power will host a conference call to discuss second quarter 2023 financial results beginning at 8:30 AM ET on Monday, August 14.

NET Power Completes Merger with Rice Acquisition Corp. II to Accelerate Clean Natural Gas Power Generation

Retrieved on: 
Thursday, June 8, 2023
Environment, Utilities, Oil, Gas, Sustainability, Alternative Energy, Energy, Constellation, Permian, Credit Suisse, P.C, LLP, Front-end loading, NET Power Demonstration Facility, SK Group, Kirkland & Ellis, Barclays Capital Inc. v. Theflyonthewall.com, Inc., Occidental, River, Direct air capture, NET, Business analyst, Carbon, Climate change, Acquisition, Natural gas, Power station, NYSE, Guggenheim Partners, Security (finance), Renewable energy, PIPE

NET Power has an initial enterprise value of approximately $1.5 billion and a market capitalization in excess of $2.0 billion.

Key Points: 
  • NET Power has an initial enterprise value of approximately $1.5 billion and a market capitalization in excess of $2.0 billion.
  • Additionally, Occidental provided $10 million in interim financing to support NET Power’s operations through the closing of the Business Combination.
  • “This deal sets NET Power on a path to accelerate the buildout and commercialization of our technology and bring the world the trifecta of clean, affordable, and reliable energy,” said Danny Rice, NET Power CEO.
  • Credit Suisse Securities (USA) LLC acted as financial advisor and capital markets advisor to NET Power, LLC.

NET Power and Rice Acquisition Corp. II Announce Gross Proceeds of At Least $670 million and Expect to Close Business Combination on June 8, 2023

Retrieved on: 
Monday, June 5, 2023
Environment, Utilities, Oil, Gas, Alternative Energy, Green Technology, Energy, Credit Suisse, P.C, LLP, Kirkland & Ellis, Barclays Capital Inc. v. Theflyonthewall.com, Inc., PIPE, NET Power Demonstration Facility, Acquisition, NYSE, Bank

NET Power, LLC (“NET Power”), an energy company whose proprietary technology delivers clean, affordable, reliable energy, and Rice Acquisition Corp. II (NYSE: RONI) (“RONI”), a publicly traded special purpose acquisition company, today announced that they expect to close their previously announced business combination on June 8, 2023.

Key Points: 
  • NET Power, LLC (“NET Power”), an energy company whose proprietary technology delivers clean, affordable, reliable energy, and Rice Acquisition Corp. II (NYSE: RONI) (“RONI”), a publicly traded special purpose acquisition company, today announced that they expect to close their previously announced business combination on June 8, 2023.
  • Upon completion of the merger, NET Power will have an initial enterprise value of approximately $1.5 billion and a market capitalization in excess of $2.0 billion.
  • Credit Suisse Securities (USA) LLC is acting as financial advisor and capital markets advisor to NET Power.
  • is serving as legal counsel to certain of the financial advisors, capital markets advisors and the placement agents.

NET Power and Rice Acquisition Corp. II Secure $50 Million PIPE Commitment from SK Group and Announce Intent to Form Joint Venture to Accelerate Deployment of NET Power Plants in Asia

Retrieved on: 
Friday, May 19, 2023
Environment, Utilities, Oil, Gas, Alternative Energy, Green Technology, Energy, Exercise, SN1, SK, SK Group, PIPE, NET Power Demonstration Facility, NET, Carbon, Coal, SK Inc., Documentation, CO2, Power station, NYSE, Renewable energy

NET Power, LLC (“NET Power”) and Rice Acquisition Corp. II (NYSE: RONI) (“RONI”) today announced a $50 million PIPE commitment from SK Group (“SK”) in connection with NET Power’s and RONI’s proposed business combination.

Key Points: 
  • NET Power, LLC (“NET Power”) and Rice Acquisition Corp. II (NYSE: RONI) (“RONI”) today announced a $50 million PIPE commitment from SK Group (“SK”) in connection with NET Power’s and RONI’s proposed business combination.
  • The groups also announced their intent to establish a NET Power-SK Joint Venture to pursue the origination and development of utility-scale NET Power plants across Asia.
  • Danny Rice, the incoming CEO of NET Power, emphasized the importance of decarbonizing Asian power generation to achieve global emissions goals.
  • "We believe that NET Power possesses the most cost-effective technology for decarbonizing fossil fuel-based power generation, and we are thrilled to partner with SK to deploy our NET Power plants on a large scale throughout Asia.

NET Power and Rice Acquisition Corp. II Announce Upsized PIPE Commitments from Occidental and Rice Family

Retrieved on: 
Monday, April 24, 2023
Environment, Utilities, Oil, Gas, Alternative Energy, Green Technology, Energy, Exercise, SN1, Direct Air, NET Power Demonstration Facility, PIPE, NET, Carbon, FEED, NYSE, Rice, Transport, CO2, Renewable energy, Occidental

NET Power, LLC (“NET Power”) and Rice Acquisition Corp. II (NYSE: RONI) (“RONI”) today announced an additional $275 million of PIPE commitments in connection with their proposed business combination.

Key Points: 
  • NET Power, LLC (“NET Power”) and Rice Acquisition Corp. II (NYSE: RONI) (“RONI”) today announced an additional $275 million of PIPE commitments in connection with their proposed business combination.
  • In support of the plant, NET Power expects Occidental will be a key offtaker of the clean power generated by SN1.
  • Incoming NET Power CEO Danny Rice said, “We’re confident that NET Power’s patented power plant technology is the only technology that can deliver all-in-one clean, reliable and low-cost power, and the more time we spend with the NET Power team and the technology, the more excited we get.
  • The net proceeds above $200 million are expected to support SN1 capital needs and future commercial origination efforts.

NET Power Selects Zachry Group to Build Its First Utility-Scale Clean Power Plant

Retrieved on: 
Tuesday, April 11, 2023
Manufacturing, Construction & Property, Other Energy, Utilities, Green Technology, Oil, Gas, Alternative Energy, Environment, Energy, Engineering, Other Construction & Property, NET Power Demonstration Facility, Construction, EPC, Multimedia, NET, FEED, Front-end engineering, Plant, CO2, Engineering, procurement, and construction, Renewable energy

View the full release here: https://www.businesswire.com/news/home/20230411005304/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20230411005304/en/
    Zachry Group is the first EPC Partner licensed by NET Power.
  • “We are proud to have Zachry Group on board for this historic project that will transform natural gas into low-carbon power.
  • Zachry has extensive experience in designing and constructing large-scale power and process plants,” said Brian Allen, President and COO of NET Power.
  • “Notably, Zachry has a track record of building successful first-of-a-kind facilities in the power sector; their FEED and EPC work for our first utility-scale plant will establish the standard for future NET Power plants.”
    John B. Zachry, Chairman and CEO of Zachry Group, commented, “We look forward to working with NET Power and contributing to a cleaner energy future.