Net Power Inc. ( (NPWR) ) has released its Q3 earnings. Here is a breakdown of the information Net Power Inc. presented to its investors.
Net Power Inc. is a clean energy technology company specializing in the transformation of natural gas into clean, reliable, and affordable power, with a focus on deploying utility-scale plants globally. In its third-quarter report of 2024, Net Power highlighted significant progress in commercializing its clean energy solutions. The company has made advancements in equipment validation at its La Porte demonstration facility and is on track with the front-end engineering and design for Project Permian, its first utility-scale project in West Texas. Net Power’s financial performance during the third quarter showed operational cash flow usage of $8 million and capital expenditures amounting to $22 million, leaving the company with $580 million in total cash by the end of the quarter. Strategic developments include signing a Limited Notice to Proceed with Baker Hughes for key materials and announcing Air Liquide as the supplier for its air separation unit. Looking forward, Net Power remains optimistic about capturing the growing demand for clean energy solutions across North America and continues to advance its project origination efforts, ensuring readiness for future deployments.
