Net Power reported a FY 2025 net loss attributable to shareholders of USD 578.63 million, compared with a FY 2024 net loss of USD 49.19 million. FY 2025 operating expenses rose sharply to USD 1.79 billion, driven by USD 1.51 billion in impairment and other charges, including a USD 359.8 million goodwill impairment and a USD 1.1 billion long-lived asset impairment. FY 2025 R&D expense increased 56% to USD 99.51 million, primarily due to development activities under the Baker Hughes joint development agreement, including USD 7.4 million of make-whole payments, and higher testing and engineering costs at the La Porte facility. FY 2025 project development expense rose to USD 72.38 million from a low base, as the company began expensing Project Permian oxy-combustion costs while assessing feasibility and recorded USD 26.1 million in contract termination fees tied to terminating a Baker Hughes notice-to-proceed. Net Power ended FY 2025 with total liquidity of USD 376.13 million, down 29%, and said it expects existing liquidity to be sufficient to fund obligations for the next 12 months after the filing, while noting it may require additional funding to successfully develop its projects.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Net Power Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001845437-26-000009), on March 09, 2026, and is solely responsible for the information contained therein.