The NET Power TeamNET Power is committed to delivering an efficient and economical solution to our energy and emissions challenges, paving the path to decarbonized economic growth.
Chief Financial Officer
Chief of Staff
Director, Corporate & Business Development
VP of Construction & Operations
Program Manager/Owner’s Engineer (McDermott)
NET Power’s Origin Story
The 2008 global economic crisis spurred 8 Rivers Capital (a North Carolina-based innovation company) to work on blue ocean solutions.
One such goal was to design a new way to generate power from hydrocarbons without releasing CO2 into the atmosphere.
In less than a decade, 8 Rivers Capital succeeded. They reimagined the natural gas power plant with their semi-closed loop CO2-powered Allam-Fetvedt Cycle.
This simple yet revolutionary cycle is the future of thermal power generation. It offers a zero-emissions solution to thermal power plants, an indispensable part of any “all of the above” solutions to decarbonization.
NET Power was created to make this technology affordable for everyone. Its mandate? To reduce the cost of decarbonizing a global economy that relies increasingly on electricity. The IPCC (Intergovernmental Panel on Climate Change) has made it clear that technologies such as the Allam-Fetvedt Cycle are necessary if the world is to achieve its targets on CO2 emission reduction.
NET Power raised more than $160 million to support this technology from the biggest companies in engineering, power generation and CO2 management. They achieved “first fire” on their test facility in 2018 and proved that the Allam-Fetvedt Cycle could do exactly as they claimed. Not only is this cycle efficient, but it also promises an immediate, global solution to reducing the world’s CO2. The cycle also creates a path through biomass to make our power grids carbon negative. Plus, it lowers electricity prices – a political, economic, and environmental win-win.
NET Power uses 8 River’s Allam-Fetvedt Cycle to create more efficient and cleaner power production with zero emissions. Plus, the captured CO2 can be put to work commercially as a valuable industrial product, or economically re-injected into the ground without requiring higher electricity prices. We believe that carbon capture should be inherent and CO2 too valuable to waste.
Natural and renewable gases are a globally growing and abundant energy source that can be better used to power a clean economy – if CO2 emissions are captured and used responsibly and economically. NET Power offers a solution that uses chemistry and advanced technology to turn potentially harmful molecules into increasingly useful ones.