Our History
Since 2010, Net Power and its partners have been dedicated to inventing and proving the Net Power Cycle.
Rodney Allam, pictured at Net Power’s La Porte Demonstration Plant in 2018
Invention of the Net Power Cycle
The Net Power Cycle traces it roots back to 2009, when renowned industrial gas scientist Rodney Allam energy technology collaborated with energy technology firm 8 Rivers to invent a better way to generate emissions-free power from conventional fossil fuels. The unique process was invented, patented and bears Rodney’s name (“The Allam Cycle”). Net Power was formed to own the exclusive rights to the natural gas application of the cycle, which we call the Net Power Cycle. In the decade that followed, Net Power innovated, refined and proved the technology with its industry-leading partners and, in doing so, has brought Rodney’s vision of a better energy future to the doorstep of global commercialization.
Net Power Timeline, 2010-2023
2010
- Net Power is founded on January 8, 2010
- 8 Rivers Capital develops the initial concept and provides seed investment
2014
- Exelon (now Constellation) invests in Net Power, bringing extensive power generation and operational experience
2016
- Net Power begins construction on its groundbreaking demonstration plant in La Porte Texas, funded in part with a strategic investment from CB&I (now McDermott)
2018
- The La Porte test facility achieves a key milestone – combustor first fire, becoming the world’s first large-scale supercritical CO2 power plant
- Oxy Low Carbon Ventures invests in Net Power, bringing global CO2 storage expertise
2021
- La Porte demonstration facility syncs to the grid, proving the core technology of the Net Power Cycle is validated
2022
- Baker Hughes, a leading energy technology company with extensive CO2 rotating equipment experience, signs a joint collaboration agreement to develop and manufacture the turboexpander for the Net Power Cycle
2023
- Strategic and financial investors, including Occidental, the Rice family, and SK Group, invest $675 million into Net Power’s go-public transaction
- Announces Project Permian, located in Texas, would be the site of Net Power’s first commercial –scale power plant
- Net Power Inc. begins trading on the NYSE under ticker symbol NPWR
- Signed strategic supplier agreement with Lummus Technology to design and supply recuperative heat exchangers for Net Power’s commercial-scale power plants