RestructuringAug 13, 2026, 05:23 PM
NET Power Impairs Oxy-Combustion Tech, Reports $90.1M Net Loss
AI Summary
NET Power Inc. reported a net loss attributable to the company of $90.1 million for the six months ended June 30, 2026, an improvement from $147.5 million in the prior year. This period included a significant $193.7 million impairment charge related to its Oxy-Combustion Cycle technology and related assets, as development of this technology has been indefinitely suspended. The company's total assets decreased to $338.3 million from $599.7 million at year-end 2025, largely due to this impairment and strategic shift.
Key Highlights
- Oxy-Combustion Cycle technology development indefinitely suspended.
- Recognized $193.7M impairment charge on Oxy-Combustion assets.
- Net loss attributable to NET Power Inc. was $(90.1)M for H1 2026.
- Total assets decreased to $338.3M from $599.7M since Dec 2025.
- Cash and cash equivalents stood at $117.9M as of June 30, 2026.
- Loss per share was $(1.04) for H1 2026, improved from $(1.91) in H1 2025.
- Net cash used in operating activities was $(60.7)M for H1 2026.
Price Impact
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