NET Power adds another strategic investor in SK and increases total committed capital to $560 million for the proposed business combination with RONI NET Power-SK proposed Joint Venture expected to leverage SK's regional expertise to catalyze development of NET Power plants in Asia NET Power, LLC ("NET Power") and Rice Acquisition Corp. II (NYSE:RONI) ("RONI") today announced a $50 million PIPE commitment from SK Group ("SK") in connection with NET Power's and RONI's proposed business combination. The groups also announced their intent to establish a NET Power-SK Joint Venture to pursue the origination and development of utility-scale NET Power plants across Asia. The proposed NET Powe

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NET Power's proven technology generates near zero-emissions utility-scale power, delivering the world's first scalable solution that achieves the energy trifecta: clean, affordable, reliable energy Combined company expected to have enterprise value of approximately $1.5 billion, Class A common stock will commence trading on the New York Stock Exchange under ticker symbol "NPWR" on June 9, 2023 Transaction provides more than $675 million in gross proceeds, including $540 million in PIPE capital from financial and strategic investors, as well as more than $135 million of cash-in-trust Proceeds from the transaction will be used to fund corporate operations through planned commerciali

Gross proceeds raised of at least $670 million, including a minimum of approximately $130 million of cash-in-trust (representing approximately 40% of total cash-in-trust) Business combination expected to close on June 8, 2023, with NET Power expected to begin trading on the New York Stock Exchange under ticker symbol "NPWR" on June 9, 2023 Gross proceeds from the transaction will be used to fund corporate operations through planned commercialization in 2026 and accelerate deployments of NET Power's patented technology, including funding for SN1 NET Power, LLC ("NET Power"), an energy company whose proprietary technology delivers clean, affordable, reliable energy, and Rice Acquisi

NET Power adds another strategic investor in SK and increases total committed capital to $560 million for the proposed business combination with RONI NET Power-SK proposed Joint Venture expected to leverage SK's regional expertise to catalyze development of NET Power plants in Asia NET Power, LLC ("NET Power") and Rice Acquisition Corp. II (NYSE:RONI) ("RONI") today announced a $50 million PIPE commitment from SK Group ("SK") in connection with NET Power's and RONI's proposed business combination. The groups also announced their intent to establish a NET Power-SK Joint Venture to pursue the origination and development of utility-scale NET Power plants across Asia. The proposed NET

Occidental and Rice family increase their PIPE investments by $275 million combined, bringing total committed capital to $510 million for the proposed transaction NET Power, LLC ("NET Power") and Rice Acquisition Corp. II (NYSE:RONI) ("RONI") today announced an additional $275 million of PIPE commitments in connection with their proposed business combination. Occidental (NYSE:OXY) has increased its commitment to the PIPE by $250 million, bringing its total investment to $350 million, while the Rice family has committed an additional $25 million to the PIPE, bringing their total investment to $125 million. The new commitments bring the expected gross proceeds of the business combination

As NET Power's EPC partner, Zachry Group will deliver standard modular plant design, setting the stage for rapid global deployment NET Power is pleased to announce it has selected Zachry Group, a leader in engineering and construction services, to provide Front-End Engineering Design (FEED), followed by Engineering, Procurement, and Construction (EPC) services for the construction of NET Power's initial utility-scale power plant, which will be the world's first large-scale gas-fired power facility with near-zero emissions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230411005304/en/ Zachry Group is the first EPC Partner lic

NET Power's proven technology generates near zero-emissions utility-scale power, delivering the world's first scalable solution that achieves the energy trifecta: clean, reliable, low-cost power. Implied pro forma enterprise value of $1.459 billion and will be publicly listed under the ticker symbol "NPWR". $235 million of committed investments -- with participation from the Rice family, Occidental, Constellation, 8 Rivers, HITE Hedge, and NGP -- are expected to fund corporate operations through planned commercialization in 2026. Experienced energy executive Danny Rice will join NET Power as its new CEO upon closing of the transaction. Mr. Rice led Rice Energy and Rice Midstream Part