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- Securities Litigation (new) — Federal securities class action filed alleging materially false statements about Project Permian development timeline and costs.
NET Power pivots from proprietary tech to licensed gas turbines, suspends R&D amid lawsuits
Filed May 11, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 12, 2025 · ~2 min read
Key Changes
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Company abandoned its proprietary Oxy-Combustion Cycle plant (SN1) after cost overruns and pivoted to conventional gas turbines with licensed carbon capture technology from Entropy. Phase I now targets 60 MW by early 2029 versus original utility-scale design.
MD&A: Business Model Pivot verify on EDGAR → -
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Two securities lawsuits filed in 2025 allege false statements about Project Permian timing and costs. Company cannot estimate potential financial loss; litigation targets executives and board for breach of fiduciary duty and securities violations.
Legal Proceedings verify on EDGAR → -
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Suspended R&D at La Porte facility and Baker Hughes joint development agreement in December 2025. R&D spending fell 13% despite $1.2M severance costs; Baker Hughes evaluating whether to continue Oxy-Combustion Cycle commercialization through May 2026.
MD&A: R&D Expense verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Generated by AI · Jun 8, 2026 11:23 AM