Company: NPWR-WT
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001845437-25-000008
Chunk: 15

Company: NET Power Inc.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 16
Chunk 15
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 distribution(4,751)— — Proceeds from share issuances— — 15,836 Net cash (used in) provided by financing activities(4,929)319,556 15,836 Net (decrease) increase in cash, cash equivalents, and restricted cash(205,251)179,908 2,782 Cash, cash equivalents, and restricted cash, beginning of period536,927 357,019 5,164 Cash, cash equivalents, and restricted cash, end of period$331,676 $536,927 $7,946 Supplemental non-cash investing and financing activities:Change in accruals for capital expenditures$(1,320)$2,937 $668 Remeasurement of lease liabilities and right-of-use assets due to lease modification— 1,472 — Operating lease right-of use asset acquired959 — — Finance lease right-of-use asset acquired349 — — Revision of estimated asset retirement obligation996 — — Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheet:Cash and cash equivalents329,230 536,927 7,946 Restricted cash2,446 — — Total cash, cash equivalents, and restricted cash$331,676 $536,927 $7,946 

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

F-9

Table of Contents

NET Power Inc.

Notes to 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.Business CombinationOn December 13, 2022, NET Power, LLC entered into a Business Combination Agreement with Rice Acquisition Corp. II (“RONI”), Rice Acquisition Holdings II LLC (“RONI OpCo”), Topo Buyer Co, LLC (“Buyer”) and Topo Merger Sub, LLC (“Merger Sub”). On June 8, 2023 (the “Closing Date”), Merger Sub