NET Power (NPWR) Registration Filing summary

Company overview and business model

• Developed a patented power generation system, the Net Power Cycle, producing clean, reliable, low-cost electricity from natural gas while capturing nearly all emissions.

• Technology validated at a demonstration plant in Texas, with over 1,500 hours of runtime as of December 31, 2023.

• Plans to license plant designs for industrial (25–115 MW) and utility-scale (up to 300 MW) applications, supported by 447 issued patents.

• Targets customers in utilities, oil and gas, technology, and industrial sectors, both domestically and internationally.

• Aims to complement renewables and provide dispatchable, low-carbon power for baseload and industrial uses.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including financing plant design and deployment, capital expenditures, working capital, and future investments.

• No proceeds will be received from the sale of shares by the selling stockholder.

Risk factors and disclosures

• Faces risks related to technology commercialization, capital intensity, supply chain, regulatory and construction delays, competition, and ability to meet projections.

• Additional risks include reliance on third-party relationships, international expansion, and evolving energy industry dynamics.

• Market or trading price of securities could decline due to these risks, and investors may lose all or part of their investment.