Company: NPWR-WT
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001845437-25-000008
Chunk: 83

Company: NET Power Inc.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 1
Chunk 83
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 was approximately $865 million, and includes specific allocations to carbon capture, utilization, and storage 

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and power systems. DOE's fiscal year 2025 budget is still pending final congressional action, but has been so far maintained at 2023 levels through continuing resolutions. 

Other Government Funding. Multiple pools of government capital are potentially available to aid in de-risk financing for early movers using our technology. The EU Innovation Fund, European Commission Transition Fund, Invest EU fund, and Catalyst EU programs all offer incentivized opportunities. Additionally, the UK BEIS Net Zero Portfolio and the Industrial Strategy Challenge Fund also offer potential financial support. 

Regulatory Standards 

Air Pollution Control. Under the U.S. Clean Air Act, the EPA maintains standards for the regulation of criteria pollutants and greenhouse gas emissions from existing and planned power plants to protect air quality and address climate change, respectively. Criteria air pollutants include ground level ozone, particulate matter, carbon monoxide, lead, sulfur dioxide, and nitrogen dioxide.

In addition, Sections 111(b) and (d) of the Clean Air Act require the EPA to regulate the emission of greenhouse gases from industrial sectors, including the power generation sector, which entails establishing standards based on the “best system of emission reduction” for such facilities. In May 2024, the EPA published final rules for carbon emission limits and guidelines for existing coal-fired power plants and new, modified and coal- and natural gas-fired power plants. The rules purport to reflect the best system of emissions reduction and use of technology-based improvements, including carbon capture and sequestration and low-greenhouse gas hydrogen. A coalition of 25 states, energy companies, utilities and fossil fuel industry groups immediately challenged the rules in federal court. In October 2024, the U.S. Supreme Court denied a request to stay the rule for new gas-fired and existing coal-fired power plants while the litigation continues. In early January 2025, the EPA provided notice of final action denying or partially denying two petitions for reconsideration of the rule. On January 15, 2025, several utilities sent a letter to the new EPA Administrator, urging either an administrative stay of the rule or a limited rulemaking to ease compliance deadlines while the EPA develops a broader rulemaking to rescind the requirements. Additionally, in January 2025, President Trump issued an executive order directing the heads of all federal agencies to identify and begin the processes to suspend, revise or rescind all agency actions that are unduly burdensome on the identification, development or use of