Net Power Inc. · NYSE:NPWR
Net Power — Q1 2024 Earnings Presentation
14 slides from Net Power's earnings presentation, May 13, 2024
Slide 1: Q1 2024 Business Update & Results
Q1 2024 Business Update & Results May 13, 2024 1
Slide 2: Important Notice
Important Notice Cautionary Note Regarding Forward-Looking Statements and Projections. Certain statements in this presentation may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Priva
Slide 3: Overview
Overview Danny Rice, Chief Executive Officer
Slide 4: We Generate Clean Power from Natural Gas
We Generate Clean Power from Natural Gas NET Power’s patented oxy-combustion cycle delivers reliable, affordable power with ultra-low emissions ELECTRICITY WATER OUT NATURAL GAS IN COMBUSTOR TURBOEXPANDER WATER WATER WATER AIR IN AIR SEPARATION OXYGEN IN CO2 CO2 CO2 WATER SEPARATOR HEAT EXCHANGER HI
Slide 5: Clean Power Generation that Checks all the Boxes
Clean Power Generation that Checks all the Boxes NET Power is designed to meet the world’s growing energy needs without compromising our planet Affordable Reliable Flexible Scalable Low Carbon Low Land Impact (<$100/MWh) (24/7, 365 days) (Load-Following) (>100 GW) (<100 g CO2e/kWh) (>1 GW / sq mile)
Slide 6: Reliability and Dispatchability in Focus
Reliability and Dispatchability in Focus Regional Transmission Organizations (RTOs) forecast significant shortfalls from baseload retirements and increased renewable penetration MISO Capacity Forecast through 2042 (1) 24 – 58 GW 75 + 60 GW 60 45 30 15 Installed Capacity Forecasted thermal retirement
Slide 7: New Stationary Combustion Turbines: U.S. EPA Regulations on Power Sector GHG Emissions
U.S. EPA Regulations on Power Sector Greenhouse Gas Emissions Finalized EPA standards under 111(b) of the Clean Air Act will set 90% CO2 emission reduction requirement on new natural gas-fired plants Implications for NET Power Capacity Factor Upon Startup Phase 2: 2032 EPA’s analysis finds carbon
Slide 8: 2024 Milestones
Commence Baker Hughes Equipment Validation at La Porte Complete Project Permian Front-End Engineering and Design (FEED) 2024 Milestones Finalize Long-Term Air Separation Unit Partnership Advance NPWR Origination Projects
Slide 9: Operational Updates
Operational Updates Brian Allen, President and Chief Operating Officer
Slide 10: Validation Campaigns at La Porte
Validation Campaigns at La Porte Baker Hughes validation and risk reduction strategy encompasses multiple proven approaches • The validation campaign aims to assess, model and test the nearest utility-scale conditions (e.g. technologies, techniques, architecture, behavior and environment as practica
Slide 11: Validation Campaigns at La Porte De-Risk Utility-Scale Adoption
Validation Campaigns at La Porte De-Risk Utility-Scale Adoption La Porte Phase 4 Validation Campaign Utility-Scale Deployments • Enabling technology: Baker Hughes’ • Baker Hughes Turboexpander technology: Turboexpander • 12 multi-can combustors, multiple • 6 multi-can combustors burners • Single bur
Slide 12: Progressing Project Permian and Technology Development
Progressing Project Permian and Technology Development Project Permian initial power generation on track for 2H 2027 / 1H 2028 Project Permian Project Permian location de-risks first-of-a-kind utility-scale • Completion of FEED deployment: • Standard inside battery limits (ISBL) / site-specific • Ac
Slide 13: Financial Updates
Financial Updates Akash Patel, Chief Financial Officer
Slide 14: Q1 2024 Financial Updates
Q1 2024 Financial Updates Continued Prudent Deployment of Capital Cash and Investments Breakdown Total cash and investments of ~$625mm as of (in $mm) Q1 Q4 Change 2024 2023 (Q1 vs. Q4) 3/31/2024 Cash $429 $537 Q1 2024 change in cash and investments of Short-Term Investments 100 100 ~($12mm) Avai