Company: NPWR-WT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001845437-25-000061
Chunk: 44

Company: NET Power Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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  in cash, cash equivalents, and restricted cash(99,879)(148,238)Cash, cash equivalents, and restricted cash, beginning of period331,676 536,927 Cash, cash equivalents, and restricted cash, end of period$231,797 $388,689 

The accompanying notes are an integral part of these condensed consolidated financial statements.

8

NET Power Inc.

Condensed Consolidated Statements of Cash Flows (Unaudited) (Continued) 

In thousands

Nine Months Ended September 30,20252024Supplemental non-cash investing and financing activities:Change in accruals for capital expenditures$(1,609)$3,826 Tax-related partnership distribution— 4,130 Operating lease right-of use asset acquired1,591 897 Finance lease right-of-use asset acquired— 349 Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheet:Cash and cash equivalents$229,315 $386,257 Restricted cash2,482 2,432 Total cash, cash equivalents, and restricted cash$231,797 $388,689 

The accompanying notes are an integral part of these condensed consolidated financial statements.

9

NET Power Inc.

Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 1 — Nature of Business and Basis of PresentationNature of BusinessNET Power Inc. (“Net Power” or the “Company”) is an energy technology company focused on delivering low-carbon gas power solutions. Historically, the Company’s sole business has been the development of a novel oxy-combustion power generation system (which we refer to as the “Net Power Cycle”) designed to produce reliable and affordable electricity from natural gas while capturing virtually all atmospheric emissions. The Net Power Cycle is designed to inherently capture CO2 while producing virtually no air pollutants such as SOX, NOX, and other particulates. Recently, the Company broadened the scope of its business to potentially include the development of low-carbon gas power solutions using more standard natural gas turbines paired with post-combustion carbon capture technology.Basis of PresentationThe accompanying unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information; however, certain information or footnote disclosures normally included in complete financial statements prepared in accordance with US GAAP may have been condensed or omitted pursuant to the rules