NET Power, Inc. is an energy technology company focused on the development and commercialization of natural gas power plants that operate with near-zero atmospheric emissions. At the core of its offering is the Allam-Fetvedt supercritical carbon dioxide (sCO₂) cycle, which combusts fuel with pure oxygen rather than air and captures virtually all carbon dioxide produced during operation. By integrating the Allam cycle with advanced turbomachinery and heat-recovery systems, NET Power aims to deliver reliable baseload electricity with lower capital costs and enhanced environmental performance compared to conventional fossil-fuel plants.
Founded in 2010 as a collaboration between engineering firm 8 Rivers Capital, utility Exelon Generation, industrial technology leader Baker Hughes, and Tokyo Gas, NET Power has advanced its technology from conceptual design to full-scale demonstration. The company’s first pilot plant, located in La Porte, Texas, began operations in 2018 and has since validated key process parameters, materials, and controls required for commercial deployment. In 2023, NET Power became a publicly traded company through a business combination, securing additional capital to accelerate its global growth plans.
NET Power is currently developing multiple commercial-scale projects across North America and Europe, targeting regions with strong demand for low-emission power and industrial carbon capture. Its project pipeline includes modular 50 MW power blocks that can be scaled to meet utility, industrial, and hydrogen-production needs. Through strategic partnerships and licensing agreements, the company is positioning the Allam cycle as a cornerstone technology for decarbonizing natural gas–fired generation and supporting hard-to-abate sectors around the world.
The company is led by President and Chief Executive Officer Bill Brown, whose background includes senior roles in global energy services and equipment manufacturing, and Chief Financial Officer Mike Evans, who brings extensive experience in corporate finance and capital markets. NET Power’s board features representatives from its founding partners along with independent directors who collectively offer deep expertise in energy technology, project development, and sustainable finance. This leadership team is tasked with driving the deployment of NET Power’s innovative platform and advancing its mission to redefine clean energy for the natural gas industry.
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