Businessman
A decade of underestimation in the power infrastructure combined with an unprecedented increase in the load on the horizon has caused a significant response to increase the firm’s generation capacity in the US, with unfounded natural gas appearing as the only source located today. This increase in demand has caused broader inflationary and supply chain pressures throughout the generation sector, affecting SN1 cost estimates that exceed valuable economic thresholds. In response, net energy has begun a process of optimism after meals and value engineering. Net Power Now estimates that the total installed cost of the Permian project will be between $ 1.7 billion and $ 2.0 billion, which is comprehensive and non-recurrence of a type, permian specific project and owner costs. While the Permian project benefits from existing cooperation2 Pipeline infrastructure, there are a number of specific challenges of the site and the region affecting the cost. Long releases of lead equipment have been suspended, but value engineering and certain development work remain in development. Provided that the successful process of valuable engineering, the project would come online no earlier than 2029.
Recognizing the need for a scaled and lower cost solution, net energy began a feasibility study for a multi -unit modular plant with a standardized design. The company expects that this scaled configuration, consisting of two to four energy train modules for plants, will significantly reduce the equipment and costs of construction through larger economies, more preparatory equipment, less field work and lower transport costs. The net power has begun to identify coastal-based sites for deployments in 2030-2033 that would provide an appropriate market for its customers. These coastal-based projects are being checked to support up to a Gigawawatt for SIT with the optional to co-release with high load data centers and industrial energy users.
In parallel, validity efforts in our demonstration facility in LA ports, Texas are continuing. The first stage of testing the equipment with Baker Hughes began at Q4, focusing on choosing the Oxy fuel combustion configuration. The facility is approaching full-time temperatures and pressure and has already reached higher operating conditions than achieved during the preliminary test campaign in 2021. The facility operated for over 140 hours during phase 1, including a 30-hour running. Stage 1 and phase 2 testing are on the right track to complete in 2025.
Baker Hughes and Woodside Energy recently announced a technology development agreement to develop a net industrial -scale energy solution, which is specifically designed for smaller scale applications, including oil and gas, LNG, heavy industries and small -scale data centers. The industrial scale program will benefit from the continuing equipment validity program in our LA port demonstration facility, as well as the development of the initial service rate power plant. This industrial -scale program has the potential to bring the net energy technology platform to a wider group of markets and end applications, complementing the company’s program program and providing additional licensing opportunities for net energy and its shareholders, requiring minimum capital from the company.
Net closed energy 2024 with $ 533 million in cash, cash equivalent and investment, from $ 580 million in the last quarter, mainly due to $ 13 million in operating money outputs and $ 29 million in capital expenses for LA ports and SN1 development. For the remainder of 2025, net power will focus on internal efforts on progressing the technology development program, lowering plant costs and a modular multi-unit model in order to enable the company to maximize the value of its owner’s net power cycle as it sails in a rich but rich market.
Conference
Net Power will host a conference call to discuss the results of the fourth quarter of 2024 and related issues starting at 8:30 AM on Monday, March 10. To access the Conference Call Audio Webcast, please visit the Net Power Investors Website on IR.netPower.com. To call by phone, call 877-407-8014 (domestic) or +1 201-689-8053 (international).
An archived webcast will be available after calling.
For net power
Net Power (NYSE: NPWR) is a company of energy technology that develops its owner’s net energy cycle, which converts natural gas into pure, reliable and affordable. The company is on a mission to place its plants on service scale worldwide by parting with electricity generators, energy producers, technology providers, local communities and other stakeholders. Net Power was founded in 2010 and has offices in Durham, North Carolina (HQ) and Houston, Texas.
Warning Note with regard to future statements and forecasts
Some statements in this release may constitute “future statements” in the sense of Article 27a of the Law of Securities of 1933, Article 21e of the Law on Exchange of Securities of 1934 and the act of reform of the record of the securities of 1995, each as amended. Future statements provide the current expectations of future events and include any statement that is not directly related to any historical or current fact. Words such as “predict”, “believes”, “hosts”, “target”, “plans”, “projects” or other similar expressions can identify such future statements. Future statements may relate to Net Power technology development, the projected request for net Power technology and markets in which net energy works, the time of placing plants and Net Power business strategies, capital requirements, possible growth opportunities and future performance expectations (financial or otherwise). Future statements are based on current expectations, assessments, forecasts, objectives, opinions and/or such beliefs, and such statements include risks, uncertainty and other well -known and unknown factors. Current results may differ materially from those discussed in future statements as a result of factors, risks and uncertainties on which net power has no control. These factors, risks, and ambiguity include, but are not limited to the nature of the Net Power business model capital, which is likely to require net power to collect additional capital in the future; Net Power’s ability to properly control or accurately predict the costs associated with its projects and the development and placement of its technology; Barriers that net power can face in its efforts to establish and commercialize its technology; The complexity of the net power of machinery relies on its operations and development; possible changes and/or delays in selecting and building sites coming from regulatory, logistical and financial challenges; Net energy ability to establish and maintain supply relationships; Risks associated with Net Power arrangements with third parties for the development, commercialization and establishment of its technology; risks associated with strategic investors and partners; Net Power’s ability to successfully commercialize its operations; availability and cost of raw materials; the impact of possible delays on detecting production and construction issues; the possibility of damage to Net Power facilities as a result of natural disasters; the ability of commercial plants that use net power technology to effectively ensure net energy production; Net Power’s ability to obtain and maintain licenses; Net power ability to create an initial trading scale plant; The possible litigation that can be created against net power; and other hazards and uncertainties described under the titles “Risk Factors” and “Note care about future statements” in Net Power’s annual report for the 10-K form for the year that ended on December 31, 2024, its subsequent annual reports for form 10-K and quarterly reports in form 10-Q, and in other files. time, which are available through the SEC site in WW. Future statements only speak since the date they have been made. Readers have been warned not to believe unfair in future statements, and net power receives no obligation and does not intend to update or review these future statements, either as a result of new information, future events, or otherwise. The net power gives no assurance that it will reach its expectations.
View the source version in Businesswire.com: https://www.businesswire.com/news/home/20250310676744/en/
Contacts
Contact relationships with investors:
investors@netpower.com
Net media contact with electricity:
netpower.media@netpower.com