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Net Power

Closed (deSPAC)

Energy · clean power generation technology · founded 2010

What it is
Power NET Power (NYSE: NPWR) is a clean energy technology company with a mission to globally deploy affordable and reliable zero-emissions energy solutions
What it’s doing now
Merging with Rice Acquisition Corp. II (RONI) — closed (despac).
What you should know
The deal carries a $200M minimum-cash condition — heavy redemptions can break it.

The business, per its filings

SEC primary

Power NET Power (NYSE: NPWR) is a clean energy technology company with a mission to globally deploy affordable and reliable zero-emissions energy solutions. The Company licenses its proprietary NET Power Cycle, which transforms natural gas into low-cost, clean power that's available 24/7. Founded in 2010 and headquartered in Durham, North Carolina, NET Power is driving global adoption by partnering with power producers, technology providers, investors and other innovators to deliver utility-scale plants. Cautionary Note Regarding

Source: S-4/A, accession 0001213900-23-036082

What the company says about itself

Web research — not audited

Net Power prioritizes the most critical needs for energy buyers by providing reliable power with potential pathways to decarbonization. Their vision is to make natural gas the lowest cost form of clean firm power, and they are committed to ensuring their natural gas plants are carbon capture and sequestration ready.

Markets:
energy | power development
Products:
natural gas plants
What our web check found

[WEB-INTEL 2026-08-26] 5 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The new investment from SK brings the expected investment in NET Power to $895 million, approximately $540 million from the PIPE raised entirely at $10.00 per share." [https://netpower.com/press_releases/net-power-reports-first-quarter-2025-results-and-provides-business-update-6/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "NET Power and Rice Acquisition Corp. II have announced a $670 million business combination, set to close on June 8, 2023." [https://netpower.com/press_releases/net-power-reports-first-quarter-2025-results-and-provides-business-update-7/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "As a result of the Business Combination, NET Power received gross proceeds of more than $675 million, consisting of more than $135 million from RONI's trust account and approximately $540 million from the PIPE." [https://www.businesswire.com/news/home/20230608005746/en/NET-Power-Completes-Merger-with-Rice-Acquisition-Corp.-II-to-Accelerate-Clean-Natural-Gas-Power-Generation] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "NET Power received gross proceeds of more than $675 million, consisting of more than $135 million from RONI's trust account and approximately $540 million from the PIPE." [https://www.mintz.com/insights-center/news-press/mintz-counsels-net-power-completed-spac-business-combination-rice] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The new commitments bring the expected gross proceeds of the business combination to $845 million for NET Power, consisting of approximately $345 million." [https://netpower.com/press_releases/net-power-reports-first-quarter-2025-results-and-provides-business-update-5/]

Source: https://netpower.com/ · captured Aug 26, 2026 · marketing claims are reported as claims, never merged into the filed figures above.

The deal it’s entering

Net Power is merging with Rice Acquisition Corp. II (RONI) currently marked Closed (deSPAC).

Headline equity value—
PIPE≈ $225M · unsourced
Minimum cash to close$200M

Structure per SEC accession(s) 0001213900-22-082302. How to read these numbers: headline vs effective valuation · what a definitive agreement commits

What exactly is being valued, and at what

Common questions

Is Net Power going public?

Net Power has an approved merger with the SPAC Rice Acquisition Corp. II (RONI). Deal status: Closed (deSPAC).

Does Net Power have revenue?

The filings we've parsed don't state a usable revenue figure yet; this profile is updated as new documents land.

Educational content, not investment advice.

Other energy deals
Same sponsor’s other SPACs
  • KRSP — Rice Acq 3 · Searching
  • RICE — Rice Acquisition Corp. · Closed (deSPAC)