Lawsuit filed for Investors who lost money with shares of NET Power Inc. (NYSE: NPWR)

An investor, who purchased shares of NET Power Inc. (NYSE: NPWR), filed a lawsuit in the U.S. District Court for the Middle District of North Carolina over alleged violations of Federal Securities Laws by NET Power Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of NET Power Inc. (NYSE: NPWR) have certain options and for certain investors are short and strict deadlines running. Deadline: June 17, 2025. NYSE: NPWR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Durham, NC based NET Power Inc. operates as an energy technology company in the United States. Net Power has a facility located in La Porte, Texas, which it uses to demonstrate the viability of the NET Power Cycle, referred to as "La Porte" or the "Demonstration Plant."
NET Power Inc. (NYSE: NPWR) conducts research and equipment validation testing campaigns at the Demonstration Plant as part of its efforts to develop its first utility-scale plant, which it variably refers to as "SN1" or "Project Permian." Project Permian is located at a site in the Permian Basin of West Texas.

In 2023, NET Power Inc's cost estimate for Project Permian was roughly $950 million, which increased to $1.1 billion in 2024.
Net Power's commencement of commercial operations and, accordingly, its business and financial prospects, rely on its completion of Project Permian. As such, Defendants' projected timelines and cost estimates for Project Permian are of particular importance to investors and analysts.

On November 14, 2023, during pre-market hours, NET Power Inc. (NYSE: NPWR) announced its third quarter 2023 results and providing a business update. Therein, the Company disclosed that "[d]ue to . . . tightness in the global supply chain, we are incorporating a 12-month cushion into our expected schedule for Project Permian" with Defendants "now expecting to achieve initial power generation sometime between the second half of 2027 and first half of 2028." This represented a significant delay from Defendants' initial schedule to have the plant operational by 2026.

On March 10, 2025, during pre-market hours, NET Power Inc. (NYSE: NPWR) announced its fourth quarter and full year 2024 results and providing a business update. Therein, Net Power disclosed that it "now estimates Project Permian's total installed cost to be between $1.7 billion and $2.0 billion"-significantly higher than its last estimate of $1.1 billion-"which is inclusive of non-recurring first-of-a-kind, Project Permian site-specific and owner costs[,]" advising that "there are a number of site- and region-specific challenges which impact cost." The Company further advised that Project Permian "would come online no earlier than 2029[,]" representing a significant delay from its prior timeline of sometime between the second half of 2027 and first half of 2028. In addition, Net Power reported that it ended 2024 "with $533 million in cash, cash equivalents, and investments, down from $580 million last quarter, primarily due to $13 million in operating cash outflows and $29 million in capital expenditures for La Porte upgrades and SN1 development."

Then, on April 15, 2025, NET Power Inc. (NYSE: NPWR) announced that its President and Chief Operating Officer ("COO") and Chief Financial Officer ("CFO") would depart the Company on May 1, 2025, and that the Company had appointed a new COO, effective immediately.

Shares of NET Power Inc. (NYSE: NPWR) declined from $17.62 per share on September 18, 2023, to as low as $1.62 per share on April 25, 2025.

The plaintiff claims that between June 9, 2023 and March 7, 2025, the Defendants made false and/or misleading statements and/or failed to disclose that Net Power was unlikely to complete Project Permian on schedule, and the project was likely to be significantly more expensive than Defendants had represented, because of, inter alia, supply chain issues and numerous site- and region-specific challenges, that accordingly, Defendants' projections regarding the time and capital needed to complete Project Permian were unrealistic, that the increased time and capital needed to complete Project Permian were likely to have a significant negative impact on the Company's business and financial results, and that as a result, Defendants' public statements were materially false and misleading at all relevant times.

Those who purchased shares of NET Power Inc. (NYSE: NPWR) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.