Slide 1: Third Quarter 2024 Results
Third Quarter 2024 Results November 11, 2024
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 netpower ;
Slide 4: Three-Pillar Strategy to Create Shareholder Value
1 Develop and Prove the Technology at the Utility Scale Progress equipment development program with Baker Hughes Complete Front-End Engineering and Design (FEED) Secure equipment partnerships, supply and offtake agreements, and necessary capital Construct and operate with focus on clean, rel
Slide 5: TAM / SAM / SOM: targeted competitive power markets in North America
TAM / SAM / SOM: targeted competitive power markets in North America Opportunity for Net Power to play significant role in North American energy mix by 2040 North America target markets: TAM / SAM / SOM (2028-2040) (1) TAM / SAM / SOM analysis conducted 2,500 - 3,200 NPWR Plants by BCG utilizing A
Slide 6: Net Power's oxygen storage provides a win-win solution
Net Power’s oxygen storage provides a win-win solution Net Power is developing a breakthrough power plant solution that can provide clean baseload power for co-located applications (data centers) while simultaneously providing reliable peaking power to the grid Co-Location Plant Front of Meter 10 –
Slide 7: Origination sets the stage for valuable future deployments
Origination sets the stage for valuable future deployments Midcontinent (MISO) Alberta, Canada (AESO) Load growth, carbon storage projects Supportive carbon capture policy across states, datacenter demand incentives and carbon emissions NPWR (OP1): Site + permitting phase pricing, low-cost gas + pro
Slide 8: Operational Updates
Operational Updates 8
Slide 9: La Porte demonstration facility operations update
La Porte demonstration facility operations update Finalized site upgrades at demonstration facility to accommodate equipment validation campaign with Baker Hughes Commissioning plant for Phase 1 and 2 testing: • Installed and commissioned CO2 compressor, gearbox, and electric motor drive package • C
Slide 10: La Porte currently being commissioned for Baker Hughes equipment validation
La Porte currently being commissioned for Baker Hughes equipment validation Validation Phases Expected Timing FUEL BURNER (Phase 1) Oxy-Fuel Burner Configurations LINERS Phase Commissioning 1 Test multiple burners configurations in a commenced (Phase 2) dedicated test rig TRANSITION PIECE Single Dem
Slide 11: Baker Hughes has commenced turboexpander manufacturing
Baker Hughes has commenced turboexpander manufacturing Baker Hughes is progressing component manufacturing for the demo (La Porte) and utility-scale (Project Permian) turboexpanders La Porte Project Permian Demo turboexpander nozzles Demo turboexpander Demo turboexpander Utility-scale turboexpander
Slide 12: Project Permian on track to demonstrate clean, reliable and safe operations at full utility scale
Project Permian on track to demonstrate clean, reliable and safe operations at full utility scale Q3 Updates • Signed Limited Notice to Proceed (LNTP) with Baker Hughes for ~$90mm of purchases for long-lead materials required to meet schedule for utility-scale turboexpander and key process equipment
Slide 13: Financial Updates
Financial Updates netpower +3
Slide 14: Q3 2024 Financial Updates
Q3 2024 Financial Updates Continued prudent deployment of capital ~$580mm ~$29mm ~$8mm ~$22mm Total cash & Total quarter-over- 3Q cash flow Capital expenditures for investments as of quarter change in cash used in La Porte and Project 9/30/2024 & investments operations Permian Q3 2024 La Porte & Pro