Company: NPWR-WT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001845437-25-000053
Chunk: 38

Company: NET Power Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 cash(45,182)(129,367)Cash, cash equivalents, and restricted cash, beginning of period331,676 536,927 Cash, cash equivalents, and restricted cash, end of period$286,494 $407,560 

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

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NET Power Inc.

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

In thousands

Six Months Ended June 30,20252024Supplemental non-cash investing and financing activities:Change in accruals for capital expenditures$(1,612)$120 Operating lease right-of use asset acquired1,591 — Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheet:Cash and cash equivalents$284,024 $405,145 Restricted cash2,470 2,415 Total cash, cash equivalents, and restricted cash$286,494 $407,560 

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

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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 a clean energy technology company that has developed a proprietary process for producing electricity using a predominantly carbon dioxide working fluid that involves the capture and reuse, sale and sequestration of carbon dioxide (the “Net Power Cycle”). The Net Power Cycle is the subject of U.S. and foreign patents, as well as additional applications and provisional applications on file with the United States Patent and Trademark Office and international patent authorities.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 and regulations of the Securities and Exchange Commission (the “SEC”). In management’s opinion, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements for the year ended December 31, 2024 and include all adjustments, which consist of only normal and recurring adjustments, necessary for fair statement. Certain prior period financial information has been reclassified to