NET Power (NPWR)
Develops gas-fired power technology that produces electricity and a high-purity CO2 stream.
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Develops and licenses gas-power technology based on an oxy-combustion, supercritical-CO2 cycle. Project Permian adds a project-development path alongside technology licensing.
Built around the NET Power Cycle, the business develops and licenses a natural-gas power system that burns fuel with oxygen and recirculating CO2. The process generates electricity while drawing off a high-purity CO2 stream for storage or utilization.
Commercialization began with a demonstration plant in La Porte, Texas, and now centers on Project Permian in the Permian Basin. The initial development combines Siemens A35 gas turbines, RPS packaging, and Entropy post-combustion capture, extending the business from technology licensing into project development.
Progress depends on equipment and technology performance, construction and regulatory execution, supplier and strategic-partner relationships, power offtake, project financing, and successful commercialization.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 14, 2026 | Northland Securities | Target | Target: — | Target: $2.75 |
| Nov 17, 2025 | Barclays | Upgrade | ||
| Apr 23, 2025 | Barclays | Downgrade | ||
| Mar 11, 2025 | Citigroup | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $308.4M · Total debt $3.3M · Total assets $338.3M · Shareholders' equity $83.5M
- Revenue
- $0
- Operating income
- −$209.9M
- Net income
- −$80.3M
No dividends on record.
| Institutions | ≈ 17.20% | 38.68M shares | |
|---|---|---|---|
| 129 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 12.19% | 27.40M shares | |
| 5 holders · as of Aug 11, 2025 | |||
| Strategic holders | 8.55% | 19.23M shares | |
| 2 holders · as of Sep 10, 2026 | |||
| Other | ≈ 62.06% | 139.55M shares | |
| remainder | |||
224.86M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (224.86M in the company's Sep 22, 2026 report, 88.38M elsewhere); stakes use the report.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Damian R. BeauchampInsider10 percent owner | 11.89% | 26.73M B | filed Aug 11, 2025 |
8 Rivers Capital, LLCStrategic10 percent owner | 8.22% | 750,000 A · 17.73M B | filed Sep 10, 2026 |
Share Andrew L.Institution | 4.34% | 9.77M A | as of Jun 30, 2026 |
Hite Hedge Asset Management LLCInstitution | 1.27% | 2.85M A | as of Jun 30, 2026 |
Adage Capital Partners GP, L.L.C.Institution | 1.26% | 2.84M A | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 9, 2026 | Npeh, LLC | 10 percent owner | −150,000 | $1.84 |
| Sep 8, 2026 | Npeh, LLC | 10 percent owner | −100,000 | $1.94 |
| Sep 9, 2026 | 8 Rivers Capital, LLC | 10 percent owner | −150,000 | $1.84 |
| Sep 8, 2026 | 8 Rivers Capital, LLC | 10 percent owner | −100,000 | $1.94 |
| Aug 25, 2026 | 8 Rivers Capital, LLC | 10 percent owner | −201,550 | $1.91 |
- GE Vernova
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- Fluor
Econamine FG Plus overlaps in gas-fired flue-gas carbon capture
- Babcock & Wilcox Enterprises
SolveBright overlaps in post-combustion CO2 capture for power plants
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| NET Power | $1.81 | +0.84% | $158.2M | — | — | — | — |
| GE Vernova | $949.44 | +0.34% | $252.01B | 27.2 | 46.1 | 6.1 | +21.9% |
| Fluor | $54.44 | −0.56% | $7.65B | — | 16.8 | 0.5 | +8.8% |
| Babcock & Wilcox Enterprises | $7.51 | +2.25% | $1.09B | — | 27.8 | 1.3 | +121.9% |
| Median | 27.2 | 27.8 | 1.3 | +21.9% |