Net Power Inc. 8-K filed 2026-09-11

Net Power Inc., listed on the NYSE as NPWR and NPWR-WT, filed this 8-K on 2026-09-11 under Item 1.01, Entry into a Material Definitive Agreement. On September 8, 2026, its indirect subsidiary Net Power, LLC signed three agreements with Baker Hughes affiliates Nuovo Pignone S.r.l. and Nuovo Pignone International S.r.l. They are a suspension of the Amended and Restated Joint Development Agreement dated December 13, 2022, a suspension of the Commercial Agreement effective May 12, 2022, and a First Amendment to the License Agreement dated February 3, 2022. The company says the Transaction indefinitely suspends the parties' utility-scale oxy-combustion development and commercialization arrangements. It also ends Baker Hughes' access and exclusivity rights at the La Porte, Texas demonstration facility, preserves NP's exclusive utility-scale equipment license, and establishes revised industrial-scale licensing arrangements. The joint development and commercial agreements are suspended, not terminated, and neither party may reinstate the development agreement without the other's written consent. The filing states that no Baker Hughes affiliate is obligated to deploy a plant, no royalty amount has been agreed upon, and no royalty is assured. The company attributes the change to market and economic conditions affecting utility-scale oxy-combustion natural gas power generation. It also cites its determination that continuing the utility-scale turboexpander and NET Power Platform programs was not economical at this time. It states the suspension did not arise from any breach, default, or failure to perform. The deal follows a temporary suspension effective December 31, 2025, and does not affect other arrangements, including Project Permian. Any financial impact and the specific terms of the revised industrial-scale licensing are not in the filing excerpt.