Company: NPWR-WT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001845437-25-000027
Chunk: 35

Company: NET Power Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 35
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 and Capital Resources 

Our principal sources of liquidity are cash, short-term investments and investments in highly liquid available-for-sale securities. Historically, our sources of liquidity have also included raising capital through the sale of equity. We may issue additional equity securities in the future. We measure liquidity in terms of our ability to fund the cash requirements of our R&D activities and our near-term business operations, including our contractual obligations and other commitments. Our current liquidity needs primarily involve R&D activities for the ongoing development of our technology, general and administrative costs, and progress certain development activities related to SN1.

The following table summarizes our liquidity position:

March 31,December 31,20252024Cash and cash equivalents$300,030 $329,230 Short-term investments100,000 100,000 Available-for-sale securities100,726 100,972 Total liquidity$500,756 $530,202 

The short-term investments are comprised of a single six-month certificate of deposit custodied by a domestic banking institution, and the available-for-sale securities are comprised of investment grade, fixed income securities. Additionally, our current liabilities were $21.4 million at March 31, 2025.

We believe we have the ability to manage our operating costs, including R&D expenditures, such that our existing liquidity will be sufficient to fund our obligations for the next 12 months following the filing of this Report. We believe that our current sources of liquidity on hand should be sufficient to fund our general corporate operating expenses as we work to commercialize our technology, but certain costs are not reasonably estimable at this time and we may require additional funding. Specifically, we will require additional funding in 

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order to successfully construct our first utility-scale plant and to originate additional Net Power plant opportunities.

Cash Flow Summary

The following table shows our cash flows from operating activities, investing activities and financing activities for the presented periods:

Three Months Ended March 31,20252024Net cash used in operating activities$(20,374)$(2,663)Net cash used in investing activities$(8,764)$(105,669)Net cash used in financing activities$(50)$— 

Operating Activities

Cash used in operating activities increased $17.7 million for the three months ended March 31, 2025, as compared to the same period in 2024. Our net cash used in operating activities to date have been primarily comprised of payroll, material and supplies, facilities expense, and professional services related to