NET Power Inc.: insider trades · United States · SEC (Form 4)

About NET Power Inc.

NET Power Inc. (ticker: NPWR) is a United States-based company listed on the NYSE. Founded in 2010 and headquartered in Durham, North Carolina, with an additional office in Houston, Texas, the company is focused on commercializing a clean firm power platform designed to deliver dispatchable, low-emissions electricity from natural gas with carbon capture. For international investors, NET Power sits at the intersection of power generation, industrial engineering, and decarbonization technology. The company’s origins trace back to a long development effort around the oxy-combustion concept, commonly referred to as the NET Power Cycle or Allam Cycle. The core idea is to use natural gas in a process that incorporates carbon capture, with the goal of producing electricity while sharply reducing atmospheric emissions. Net Power describes its historical business as technology development, and the company is now moving from R&D and pilot progress toward project commercialization and utility-scale deployment. NET Power’s business model is not that of a traditional independent power producer with a large fleet of mature assets. Instead, it is best understood as a technology and project developer. Its operating focus is on designing, integrating, and deploying next-generation power plants. The company’s strategic partners include Oxy, Baker Hughes, and Constellation, which provides industrial credibility and access to engineering, equipment, and commercialization capabilities. That partner network is an important competitive differentiator in a sector where execution, supply chain access, and bankability matter as much as technology. Commercially, NET Power’s value proposition is built around three pillars: clean power, affordability, and reliability. It is targeting the market for natural gas-fired generation with carbon capture, an emerging segment that could become strategically important as grids seek both decarbonization and firm capacity. At present, the company’s geographic footprint is primarily U.S.-based, centered on North Carolina and Texas, although management has previously discussed broader deployment potential over time. Recent developments have remained centered on commercialization milestones and capital discipline. In its first quarter 2026 update, NET Power said it is working to secure a power purchase agreement for Project Permian Phase I and remains on track to pursue a final investment decision in the second half of 2026. The company is still targeting first commercial operations in 2028. NET Power also announced a CFO transition in April 2026, appointing Lee Shuman as Chief Financial Officer. As with many early-stage, capital-intensive clean energy developers, the company remains exposed to financing needs, project execution risk, and timing slippage. Even so, it retains a differentiated position in the U.S. energy transition landscape thanks to its combination of proprietary technology, strategic partners, and a clear decarbonized gas-power thesis.