![[netpower_logo-1.webp|300]] Website: [netpower.com](https://netpower.com) ### Introduction Net Power, founded in 2010, is a clean energy technology company headquartered in Durham, North Carolina. The company was established with a mission to deliver what it calls the "energy trifecta"—clean, reliable, and low-cost power—by leveraging innovative natural gas-based power generation technology that captures carbon dioxide (CO2) emissions. While specific employee counts are not publicly disclosed in the latest available data, Net Power has positioned itself as a pioneer in sustainable energy solutions, focusing on scalable and firm power generation. The company aims to redefine the energy landscape by providing solutions that balance environmental responsibility with economic viability, as outlined on their official website ([netpower.com](https://netpower.com)). Net Power is a publicly traded company listed on the New York Stock Exchange under the ticker symbol NPWR. Since going public, it has attracted significant attention from investors and stakeholders in the energy sector, particularly for its novel approach to carbon capture and clean power generation using natural gas. This public status has enabled Net Power to access capital markets to fund its ambitious projects and technological advancements, positioning it as a key player in the transition to lower-carbon energy systems. ### Key Products and Technology Net Power's flagship technology is based on the Allam-Fetvedt Cycle, a proprietary oxy-fuel combustion process designed to generate clean electricity from natural gas while capturing nearly all CO2 emissions. Below are the key details of their primary technology and offerings: - **Name and Type**: Allam-Fetvedt Cycle (Supercritical CO2 Power Cycle) - **Technical Specifications**: The technology is designed to achieve power outputs in the range of hundreds of megawatts (specific MWe figures vary by project, with demonstration plants at 50 MWe and commercial designs targeting 300 MWe or more). It boasts near-zero emissions and high efficiency, reportedly comparable to or better than traditional combined-cycle gas turbines (around 50-60% efficiency). - **Fuel Type or Energy Source**: Natural gas, with oxygen used in combustion to produce a high-purity CO2 stream for capture. - **Key Differentiators**: Unlike traditional carbon capture systems, which are often energy-intensive and costly, the Allam-Fetvedt Cycle integrates CO2 capture into the power generation process, eliminating the need for separate capture equipment. This results in lower operational costs and a smaller environmental footprint. Additionally, the captured CO2 can be sequestered or utilized in industrial applications, creating potential secondary revenue streams. - **Development Stage**: The technology has progressed beyond concept to operational demonstration. Net Power's first test facility in La Porte, Texas, a 50 MWe plant, became operational in 2018 and successfully delivered zero-emission power to the grid, marking a historic milestone. Commercial-scale projects are in planning and development stages, with timelines targeting the late 2020s for full deployment. - **Target Customers**: Utilities seeking low-carbon baseload power, industrial sectors requiring reliable energy with carbon management, and government entities focused on meeting emissions reduction targets. Net Power’s technology stands out in the natural gas sector for its ability to provide firm, dispatchable power—a critical need for grid stability—while aligning with global decarbonization goals. The company continues to refine its designs for scalability and cost reduction, as highlighted in recent business updates ([netpower.com](https://netpower.com)). ### Regulatory and Licensing Status As a natural gas-based technology, Net Power does not fall under the purview of the Nuclear Regulatory Commission (NRC), unlike nuclear energy companies. Instead, its regulatory oversight primarily involves environmental and energy permitting through agencies like the U.S. Environmental Protection Agency (EPA) and state-level energy regulators. The company’s technology has been designed to comply with stringent emissions standards, given its near-zero emission profile. Key regulatory milestones include the successful operation of its demonstration plant in Texas, which received necessary permits and approvals for construction and grid connection prior to 2018. Recent updates indicate that Net Power is working on environmental and siting permits for future commercial projects, though specific timelines and locations remain project-dependent. The company has not publicly detailed significant regulatory hurdles, suggesting a relatively smooth path compared to more heavily regulated sectors like nuclear energy. Estimated timelines for first commercial deployment point to the late 2020s, contingent on project financing, partnerships, and permitting processes, as noted in their Q3 2025 business update ([ir.netpower.com](https://ir.netpower.com)). ### Team and Leadership Net Power’s leadership team comprises experienced professionals with backgrounds in energy, technology, and business development. Key executives include: - **Danny Rice, Chief Executive Officer**: Danny Rice has been instrumental in steering Net Power toward commercialization, with a focus on strategic growth and investor relations. He assumed interim Chief Financial Officer duties in 2025 following leadership transitions ([ir.netpower.com](https://ir.netpower.com)). - **New Chief Operating Officer (Name Unspecified in Public Data)**: Appointed in April 2025, the new COO is tasked with overseeing operational advancements and project execution, though specific details on the individual were not disclosed in the latest press release ([ir.netpower.com](https://ir.netpower.com)). Specific social media handles for leadership were not verified in the available data and are therefore omitted. The company has undergone recent leadership changes to strengthen its operational and financial management as it scales toward commercial deployment. ### Funding and Financial Position Net Power has secured significant financial backing to support its technology development and project pipeline. As a public company (NYSE: NPWR), it reported over $500 million in liquidity in its Q1 2025 financial results, reflecting a strong balance sheet to fund ongoing initiatives ([netpower.com](https://netpower.com)). Specific details on total historical funding or individual rounds prior to its public listing are less prominent in recent data, but its public status has provided access to capital markets. Recent stock performance and market cap figures are not detailed in the latest updates, though the company’s focus on cost-saving initiatives and clean energy projects suggests a positive outlook among investors. Key institutional investors and strategic backers include historical partners like Occidental Petroleum and [[8 Rivers Capital]], which have supported the technology’s early development. Net Power remains pre-revenue at a commercial scale, with its demonstration plant serving as a proof of concept rather than a revenue generator. The company is focused on securing contracts and partnerships for its first commercial plants, as outlined in its Q3 2025 update ([nasdaq.com](https://www.nasdaq.com/press-release/net-power-reports-third-quarter-2025-results-and-provides-business-update-2025-11-13)). ### Recent News and Developments | Date | Event | Details | |---------------|---------------------------------|-----------------------------------------------------------------------------------------------| | Nov 13, 2025 | Q3 2025 Results Announced | Net Power reported financial and operational results, focusing on low-carbon power solutions and market traction ([nasdaq.com](https://www.nasdaq.com)). | | Nov 14, 2025 | Strategic Pivot Revealed | Earnings call transcript highlighted a strategic shift to enhance market positioning ([investing.com](https://www.investing.com)). | | Aug 11, 2025 | Q2 2025 Results Released | Financial and business updates emphasized ongoing progress in clean energy projects ([ir.netpower.com](https://ir.netpower.com)). | | May 12, 2025 | Q1 2025 Results and Update | Reported over $500M in liquidity and advancements in cost-saving initiatives ([netpower.com](https://netpower.com)). | | Apr 15, 2025 | Leadership Changes Announced | New Chief Operating Officer appointed; CEO Danny Rice assumed interim CFO role ([ir.netpower.com](https://ir.netpower.com)). | These events reflect Net Power’s active engagement in financial reporting and strategic adjustments throughout 2025, positioning the company for growth in the clean energy sector. ### Partnerships and Collaborations Net Power has established strategic partnerships to advance its technology and market reach. Key collaborations include: - **Constellation Clean Energy**: A historical partner, Constellation has supported Net Power’s efforts to deliver zero-emission electricity from natural gas, as noted in posts on X dating back to 2021. This partnership underscores utility interest in Net Power’s technology for grid applications. - **Occidental Petroleum (Oxy)**: Oxy has been a long-term backer, with involvement in the development of the Allam-Fetvedt Cycle and interest in utilizing captured CO2 for enhanced oil recovery or sequestration, adding strategic value to Net Power’s carbon management approach. - **[[8 Rivers Capital]]**: As an early investor and technology developer, 8 Rivers has played a critical role in bringing Net Power’s innovations to fruition, providing both financial and technical support. These partnerships highlight Net Power’s focus on aligning with major energy players to scale its technology and address both energy and environmental challenges. ### New Hampshire Relevance Net Power’s technology could have potential relevance for [[New Hampshire]], particularly in the context of the state’s energy needs and decarbonization goals. New Hampshire’s proximity to the ISO-NE grid and existing infrastructure like [[Seabrook Station]] (a nuclear facility) suggests opportunities for integrating firm, low-carbon power sources like Net Power’s natural gas plants to complement intermittent renewables. The state’s legislative initiatives, such as HB 710, which may encourage innovative energy solutions, could align with Net Power’s mission, though specific SMR provisions are less relevant given the non-nuclear nature of the technology. The Allam-Fetvedt Cycle’s readiness for commercial deployment in the late 2020s may fit within New Hampshire’s longer-term energy planning timelines. Potential applications include providing grid power to stabilize ISO-NE’s system, supporting data center growth in the region with reliable baseload energy, and supplying industrial heat for manufacturing sectors. While no direct connections or expressed interest in New Hampshire or the Northeast US were identified in the latest data, Net Power’s focus on scalable, clean energy solutions could attract attention from regional utilities or policymakers seeking alternatives to traditional fossil fuel plants. Further engagement with state energy offices or ISO-NE could position Net Power as a viable option for future energy projects. ### Competitive Position Net Power operates in a competitive landscape of clean energy and natural gas technologies, with direct competitors including companies like [[Carbon Engineering]] (focused on direct air capture and synthetic fuels), Mitsubishi Heavy Industries (developing carbon capture for gas plants), and traditional combined-cycle gas turbine providers like Siemens. Net Power’s unique advantage lies in its integrated carbon capture within the power cycle, reducing costs compared to bolt-on capture systems used by competitors like Mitsubishi. Additionally, its near-zero emissions profile offers a cleaner alternative to Siemens’ traditional gas plants. However, risks include the high capital costs of scaling first-of-a-kind commercial plants and potential market preference for renewable-only solutions over natural gas, even with carbon capture. [[Carbon Engineering]]’s focus on broader carbon utilization may also compete for industrial partnerships. Net Power’s success will hinge on proving cost-competitiveness and securing long-term offtake agreements in a rapidly evolving energy market. ### Closing Note Net Power is at a pivotal stage, with proven demonstration technology and a clear trajectory toward commercial deployment of clean natural gas power in the late 2020s, supported by strong liquidity and strategic partnerships. *Report generated December 24, 2025*