NET Power Inc. Class A (NPWR)

NET Power, Inc.'s stock price has been significantly impacted by several key events and announcements in the past six months. The stock experienced a decline of approximately 49.32% over the last six months and 45.94% over the past year (as of March 23, 2026). In Q3 2025, NET Power announced a strategic pivot towards post-combustion carbon capture technology and reported an EPS loss of $5.28, leading to a stock plunge. In Q4 and full-year 2025, the company disclosed that the FEED for Project Permian was finalized, but the cost estimate was significantly higher than expected, leading to a pause in long-lead releases for the project and a stock price fall. In Q2 2025, NET Power announced a strategy to integrate simple cycle gas turbines into project designs. In Q1 2025, the company reported its financial results, maintaining a strong liquidity position.

Based on available information, there is no explicit indication of significant demand seasonality for NET Power, Inc.'s core products and services. The company's focus is on providing baseload power, and it has noted unprecedented demand growth for reliable power generation driven by factors such as AI and data centers. While the electricity generated by power plants can have seasonal demand patterns, the demand for the underlying clean energy technology and plant construction itself does not appear to be described as seasonal.

NET Power, Inc. is a clean energy technology company focused on transforming natural gas into low-cost, clean, and reliable power. The company operates within the Capital Goods sector, specifically in the Heavy Electrical Equipment and Specialty Industrial Machinery industries. Its core business involves developing and licensing the NET Power Cycle, which utilizes an oxy-combustion process and a supercritical CO2 power cycle to generate electricity from natural gas while capturing nearly 100% of CO2 emissions. NET Power has expanded its strategy to include clean power projects utilizing gas turbines with post-combustion carbon capture (PCC) technology, partnering with Entropy Inc. to deploy Entropy's PCC technology for power generation in the United States and to jointly develop projects. NET Power's customers include electric utilities, oil and gas companies, midstream oil and gas companies, technology companies, and industrial facilities in both domestic and international markets.

NET Power, Inc. is headquartered in Durham, North Carolina, and maintains an office in Houston, Texas. The company aims to deploy its utility-scale plants globally, partnering with various stakeholders. It is actively developing a utility-scale power plant in West Texas, known as Project Permian. Additionally, NET Power is advancing a clean firm power hub in northern MISO and intends to form a joint venture with SK Group to develop utility-scale plants in select Asian countries.

NET Power, Inc.'s reputation has been affected by legal challenges related to its Project Permian. Multiple law firms have initiated investigations into possible securities fraud and have filed class-action lawsuits on behalf of investors, alleging that NET Power Inc. misled investors regarding the timeline and capital required to complete Project Permian. The disclosure of substantially higher cost estimates and delays for Project Permian led to a significant drop in the company's stock price, further impacting its reputation.

NET Power Inc. has 147 institutional owners and shareholders holding a total of 34,372,649 shares, with major institutional owners including Share Andrew L., Millennium Management Llc, Vanguard Group Inc, and BlackRock, Inc. Occidental Petroleum Corp is the largest individual shareholder, owning 55.55 million shares, representing 24.75% of the company. Other significant insider owners include Damian R. Beauchamp, 8 Rivers Capital LLC, Npeh LLC, Kyle Derham, and Daniel J. Rice IV. Institutional shareholders own 14.87%, insiders own 64.57%, and retail investors own 20.56% of NET Power.