Net Power reported Q1 2026 results, highlighting progress on Project Permian and engagement of a strategic advisor for offtake discussions, with $319M cash and FID expected in H2 2026.
Key takeaways
Engaged strategic advisor to facilitate power offtake for Project Permian Phase I, targeting FID in H2 2026.
Ended Q1 with $319M cash, cash equivalents, and investments, maintaining strong financial position.
Progressing toward joint development agreement with Entropy for post-combustion carbon capture deployments.
Project Permian Phase I targets 80MW electrical output using Siemens A35 turbines and Entropy's PCC technology.
Target commercial operations for Project Permian by early 2029.
No specific financial results (revenue, net income, EPS) were disclosed in the press release.