Overview

A class action lawsuit has been filed against NET Power Inc. (“Net Power” or the “Company”) and certain of its former and current senior executive officers, alleging violations of the federal securities laws. Net Power’s common stock and warrants trade on the New York Stock Exchange (“NYSE”) under the ticker symbols “NPWR” and “NPWR WS,” respectively.

The Net Power class action lawsuit was brought on behalf of all persons and entities who purchased or otherwise acquired Net Power securities between June 9, 2023, and March 7, 2025, inclusive (the “Class Period”).

Net Power is a clean energy technology company whose business centers around its proprietary “Net Power Cycle” technology. This system is designed to generate reliable and affordable electricity from natural gas while capturing nearly all atmospheric emissions. The Company operates a facility in La Porte, Texas, known as the “Demonstration Plant,” where it conducts research and equipment validation testing. These efforts support the development of its first utility-scale plant, referred to interchangeably as “SN1” or “Project Permian,” located in the Permian Basin of West Texas.

Since before the start of the Class Period, Defendants had represented that SN1 was expected to be operational in 2026. Net Power’s cost estimate for Project Permian was approximately $950 million in 2023 and increased to $1.1 billion in 2024. The Company’s commercial operations, and its overall business and financial outlook, depend heavily on the timely and cost-effective completion of Project Permian. As such, the project’s timeline and budget are of critical interest to investors and analysts.

The lawsuit alleges that, throughout the Class Period, Defendants made materially false and misleading statements about the Company’s business, operations, and prospects. Specifically, the complaint alleges that: (1) Net Power was unlikely to complete Project Permian on schedule and at the represented cost, due to supply chain constraints and site- and region-specific challenges; (2) the Company’s projections regarding the time and capital required to complete the project were unrealistic; (3) the delays and cost overruns were likely to significantly affect the Company’s financial performance; and (4) as a result, Defendants’ public statements were materially false and misleading throughout the Class Period.

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If you purchased or otherwise acquired Net Power securities between June 9, 2023, and March 7, 2025, inclusive, and wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page.

You may also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or emailing investors@dicellolevitt.com.

The deadline to apply to the Court to serve as lead plaintiff in the Net Power class action lawsuit is June 17, 2025.