Quarterly ResultMay 11, 2026, 04:23 PM
Net Power Reports Q1 2026 Results; $319M Cash; Project Permian Update
AI Summary
Net Power Inc. announced its financial and operational results for the first quarter ended March 31, 2026. The company reported a strong financial position, ending the quarter with approximately $319 million in cash, cash equivalents, and investments. Key business updates include advancing Project Permian Phase I, which targets 80MW electrical output with FID expected in H2 2026 and commercial operations by early 2029. Net Power is also progressing towards a joint development agreement with Entropy Inc. for deploying post-combustion carbon capture technology.
Key Highlights
- Ended Q1 2026 with approximately $319 million in cash, cash equivalents, and investments.
- Project Permian Phase I targets 80MW electrical output using Siemens A35 gas turbines.
- Final Investment Decision (FID) for Project Permian Phase I expected in H2 2026.
- Targeted commercial operations for Project Permian Phase I by early 2029.
- Engaged a strategic advisor to facilitate power offtake discussions for Project Permian Phase I.
- Progressing towards a Joint Development Agreement (JDA) with Entropy Inc. for PCC technology deployment.
Price Impact
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