Company: NPWR-WT
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001845437-25-000008
Chunk: 51

Company: NET Power Inc.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 16
Chunk 51
---
 Demonstration Plant. The following table reconciles the beginning and ending balances of the asset retirement obligation as of the dates presented:SuccessorPredecessorPeriod FromPeriod FromJune 8, 2023January 1, 2023Year Endedthroughthrough$ in thousands December 31, 2024December 31, 2023June 7, 2023Asset retirement obligation, beginning of period$2,060 $1,967 $2,416 Revision of estimate996 — — Accretion expense209 93 102 Asset retirement obligation, end of period$3,265 $2,060 $2,518 

F-35

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

Unconditional Purchase ObligationsThe Company has committed to purchase industrial components for installation at its Demonstration Plant and its first commercial power plant. The Company pays for these components in installments aligned to contractual milestones. In accordance with ASC Topic 440, Commitments, the Company does not recognize these commitments on the consolidated balance sheets.As of December 31, 2024, the Company had $76.1 million of remaining purchase obligations through February 2027 related to the BHES JDA, which is expected to be settled 50% in cash and 50% in common stock. In addition, the Company had $89.6 million of additional remaining asset purchase obligations through 2026.

F-36