NET Power announces its first large-scale clean energy power plant integrated with CO2 sequestration

On Monday, NET Power, LLC announced its plan to develop and build the world’s first large-scale natural gas-fired power plant with near-zero air emissions.

The project fully integrates power generation with underground carbon dioxide transport and sequestration. The new plant will be built near Occidental’s operations in the Permian Basin. The plant is expected to be operational in 2026.

NET Power’s transformational technology generates power while inherently capturing nearly all emissions through its patented oxy-fuel combustion and supercritical CO2 cycle. These plants produce clean, low-cost, on-demand electricity and solve critical air quality and land use issues, virtually eliminating airborne emissions including nitrogen oxides, sulfur oxides and carbon dioxide.

This announcement follows recent momentum from NET Power. NET Power demonstrated its breakthrough technology at its La Porte demo site, culminating in synchronization with the Texas power grid in fall 2021.

NET Power announced a partnership with energy technology company Baker Hughes in February 2022 to develop and commercialize a suite of integrated equipment and technologies, including supercritical CO2 turboexpanders. This number one large-scale project serves as a commercial launch pad for NET Power’s core process technology, accelerating other projects already in development and paving the way for the global deployment of this innovative decarbonization platform.

“Having demonstrated the capability of the technology at La Porte and partnering with Baker Hughes to bring the NET Power system to market, we are excited to accelerate the deployment of this game-changing technology,” said Ron DeGregorio, CEO of NET Power, in the press release. Press release. “This powerhouse enables rapid scale-up of NET Power’s global deployments, providing a clear and meaningful path to reliable, near-emissions-free power.”

NET Power selected the project located at a site hosted by Occidental near Odessa, Texas, from a list of candidate projects for early adoption. The project targets approximately 300 megawatts (MW) of carbon-free power and will transport captured CO2 to permanent underground sequestration via Occidental’s existing Permian CO2 processing infrastructure and operations.

NET Power will engage its strategic shareholders to support the project with resources:

>> Occidental for the transport and sequestration of CO2 and the extraction of electricity.

>> Constellation Energy Generation, LLC for the company’s expertise in plant operation and electricity offtake.

>> Baker Hughes for major integrated process equipment and technologies.

>> 8 Rivers Capital for project development support.