Net Power reports Q2 cash flow used in operations roughly $8M

During the second quarter, cash flow used in operations was approximately $8 million and cash flow used for capital expenditures was approximately $8 million, primarily for La Porte and Project Permian. The Company ended the second quarter of 2024 with approximately $609 million of total cash, cash equivalents and investments, as compared to approximately $626 million in the first quarter of 2024. Danny Rice, Chief Executive Officer of NET Power, commented, “The team excelled through another busy quarter. Significant work continues on the origination front as we pinpoint the ideal markets and locations to optimize the economics of future deployments, with several near-term targets identified in North America. Later this year, we expect to complete FEED for Project Permian and kick off the first of four phases of equipment validation with Baker Hughes at our La Porte demonstration facility. We continue to advance strategic discussions with our current and prospective supply chain partners to ensure we have the capabilities to meet the growing demand for clean, affordable and reliable power.”