Company: NPWR-WT
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001845437-25-000008
Chunk: 35

Company: NET Power Inc.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 16
Chunk 35
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 expense of BHES JDA6,212 3,669 Capital expenditures2,285 3,605 Professional fees1,143 682 Other accrued liabilities1,063 943 Total accrued liabilities$13,619 $10,915 

NOTE 10 — LeasesThe following is a summary of leases on the consolidated balance sheets:December 31,$ in thousandsLine item20242023AssetsOperating leasesOperating lease right-of-use assets$2,699 $2,212 Financing leasesProperty, plant, and equipment, net331 — Total assets$3,030 $2,212 LiabilitiesCurrentOperating leasesOperating lease liabilities, current portion$683 $347 Financing leasesFinance lease liabilities, current portion187 — Non-currentOperating leasesNon-current operating lease liabilities2,125 1,808 Financing leasesNon-current finance lease liabilities110 — Total liabilities$3,105 $2,155 

F-23

Audited Financial Statements of NET Power Inc. - Table of Contents

The following table presents the Company’s lease costs by period presented and the classification on the consolidated statements of operations and comprehensive loss:SuccessorPredecessorPeriod FromPeriod FromJune 8, 2023January 1, 2023Year Endedthroughthrough$ in thousandsLine item December 31, 2024December 31, 2023June 7, 2023Operating lease costsGeneral and administrative$624 $260 $85 Financing lease costs:Amortization of right-of-use assetsDepreciation, amortization, and accretion$18 $— $— Interest on lease liabilitiesInterest income (expense)15 — — Total finance lease costs$33 $— $— The following is a summary of the weighted-average lease term and discount rate:December 31,20242023Weighted-average remaining lease term - operating leases4.3 years4.9 yearsWeighted-average remaining lease term - finance leases1.7 years—Weighted-average discount rate - operating leases9.1%8.0%Weighted-average discount rate - finance leases14.0%—The following table presents the future minimum lease payments that the Company expects to make under its operating and finance leases as of December 31, 2024:$ in thousandsOperating leasesFinance leases2025$730 $199 2026782 132 2027803