Net Power(NYSE) NPWR

NET Power makes technology that turns natural gas into clean electricity. This helps utility companies provide reliable power while capturing carbon emissions. It aims to offer low-cost energy without polluting the air.

What is NET Power Building?

• Clean Gas Product: Modular power plant design using post-combustion carbon capture to remove carbon dioxide from exhaust gas.
• Oxy-Combustion Cycle: Patented system using high-pressure carbon dioxide to generate power with near-zero emissions; development is currently paused.

Strategic Moves and Big Plans

• Entered an agreement to purchase two modular gas turbine sets in November 2025 for its first major project.
• Working to license post-combustion carbon capture technology from Entropy, Inc. to build standardized power plants.
• Designing the Project Permian hub in West Texas to generate up to 1 GW of clean electricity.
• Suspended development activities with Baker Hughes in early 2026 while both parties negotiate potential agreement changes.

The Clean Energy Edge

NET Power focuses on firm power, which is electricity that stays on regardless of weather or time of day. Its modular design strategy aims to lower costs by making power plant parts easier to build and move.

A Look at the Books

• Operating loss narrowed to $34.2 million in Q1 2026, a 92.8% improvement from the same period in 2025.
• Net loss hit $9.9 million for the quarter ended March 31, 2026, narrowing 91.7% year-over-year.
• Total liquidity reached $318 million as of March 31, 2026, including cash and short-term investments.
• Free cash flow was negative $59.4 million in Q1 2026, a 99.3% deepening from the previous year.

The Big Picture

NET Power has shifted from early technology research to building commercial-scale power projects. It is currently prioritizing modular carbon capture solutions to meet global demand for clean, reliable energy.