NET Power Inc. Class A (NPWR)

NET Power, Inc.'s stock price has experienced significant volatility and a notable decline in the past six months. As of October 15, 2025, the share price was $4.85, a decrease of 32.17% from $7.15 on October 16, 2024. The stock reached a 1-year low of $1.48 and a 1-year high of $14.28. The company reported a loss of ($0.36) earnings per share for Q2 2025, missing analysts' consensus estimates. Major shareholders, including 8 Rivers Capital, LLC and SK Inc., have reported substantial sales of the company's Class A Common Stock. There has been notable institutional buying and selling activity. Several law firms have announced investigations into NET Power, Inc. on behalf of long-term stockholders, and a class-action lawsuit has been filed. The company has continued to advance its Project Permian, focusing on cost reduction initiatives and progressing equipment validation testing at its La Porte demonstration facility.

The demand for NET Power, Inc.'s products and services is not inherently seasonal. Demand is driven by global climate change concerns and regulations, growing energy demand, the need for reliable, clean baseload power, and market growth for CO2 capture technology. Increasing global concerns about climate change and stringent environmental regulations are bolstering the demand for carbon capture and storage (CCS) technologies. The energy market is experiencing unprecedented demand, largely fueled by the surge in artificial intelligence (AI) and data center growth. Customers are prioritizing reliable and affordable power with credible pathways to decarbonize over time. The CO2 capture technology market is experiencing significant growth, with projections of a robust Compound Annual Growth Rate (CAGR) from 2025 to 2033. The underlying market forces suggest a sustained and growing need for its carbon-capture-enabled power generation solutions.

NET Power, Inc. is a clean energy technology company focused on revolutionizing power generation through its proprietary NET Power Cycle. The company operates within the Industrials sector, specifically in the Specialty Industrial Machinery, Electrical Products, and Industrial Machinery/Components industries. Its primary product, the NET Power Cycle (Allam-Fetvedt Cycle), combusts natural gas with pure oxygen to produce electricity while capturing over 97% of CO2 emissions. The company provides carbon capture and storage solutions and generates revenue through licensing its technology to power producers and industrial partners. NET Power's customers include electric utilities, oil and gas companies, midstream oil and gas companies, technology companies, and industrial facilities.

Headquartered in Durham, North Carolina, NET Power, Inc. primarily operates in the United States. The company aims to deploy its utility-scale plants globally, with current market interests and partnerships extending to North America, Europe, and Asia. A significant project, "Project Permian," is underway in West Texas, designed to capture approximately 860,000 tons of CO2 per year.

NET Power, Inc.'s brand reputation in the past year has been impacted by legal challenges. Multiple law firms have announced investigations and filed class-action lawsuits against the company and certain officers on behalf of long-term stockholders, suggesting a period of scrutiny and potential negative sentiment surrounding the company's corporate governance and financial performance.

NET Power, Inc. has a diverse ownership structure, with significant institutional and individual holdings. As of recent filings, 199 institutional owners hold a total of 33,631,906 shares, with approximately 53.62% of the stock held by hedge funds and other institutional investors. Major institutional owners include Share Andrew L., Adage Capital Partners Gp, L.l.c., Vanguard Group Inc., BlackRock, Inc., HITE Hedge Asset Management LLC, Geode Capital Management, Llc, Millennium Management Llc and Cohen & Steers, Inc.. Occidental Petroleum Corp is the largest individual shareholder, owning 25.34% of the company's shares. Other key individual and insider owners include Damian R. Beauchamp, Kyle Derham, 8 Rivers Capital, LLC, and SK Inc.