Net Power Technology
closedZero-emissions natural gas power generation technology.
| Date | Investors | Amount | Round |
|---|---|---|---|
$3.0m | Series A | ||
| Total Funding | 000k | ||
Net Power is a company that has developed a novel power generation system that aims to deliver clean, reliable, and low-cost energy from natural gas without atmospheric emissions. The company was co-founded in 2009 by Bill Brown and is headquartered in Durham, North Carolina. The core of its offering is the Net Power Cycle, a proprietary technology that utilizes oxy-combustion and a supercritical CO2 turbine to generate electricity while inherently capturing nearly all CO2 and other pollutants like nitrogen oxides.
The process works by burning natural gas with pure oxygen instead of air, which results in a working fluid of primarily CO2 and water. This high-pressure CO2 drives a turbine to produce power, and because the CO2 is already concentrated and pipeline-ready, it can be captured for sequestration or utilization at a significantly lower cost compared to traditional carbon capture technologies. This approach is designed to be highly efficient and eliminates the need for water in the power generation process.
Net Power's business model focuses on licensing its technology and selling critical equipment for new power plants built by partners. The company has backing from major industry players including Oxy, Baker Hughes, and Constellation. It operates a 50MWth demonstration facility in La Porte, Texas, which was built in 2018 and successfully synchronized with the Texas grid in 2021, proving the technology's viability. The company is now planning its first commercial-scale plant, named "Project Permian," near Midland, Texas, with other potential projects being explored in locations across North America. Danny Rice has served as the company's CEO since 2023, bringing extensive experience from the energy sector.
Keywords: clean energy, natural gas, carbon capture, oxy-combustion, supercritical CO2, Allam Cycle, zero-emission power, power generation, electricity, utility-scale energy, CO2 sequestration, dispatchable power, energy technology, Project Permian, baseload power, low-cost energy, sustainable energy, gas turbine, emissions control