Strong Financial Position
Exited the first quarter with approximately $500 million of cash and cash equivalents, earning 5% interest per year, and no debt.
Operational Focus and Strategy
Focus on improving project economics for the first utility scale plant, reducing total installed cost, and achieving a competitive levelized cost of energy (LCOE).
La Porte Testing Advancements
Significant progress with La Porte testing to prove performance expectations for commercial scale clean power plants.
Major Shareholder Support
85% of the company's equity is owned by major strategic investors including Oxy, Constellation, Baker Hughes, SK Group, and the Rice family.
Cost Optimization Initiatives
Value engineering process for Project Permian to identify cost savings without compromising performance or safety.