NET Power Inc. filed its quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission on November 12, 2026, covering the fiscal quarter ended September 30, 2026.

Key Highlights

  • Share count: As of November 10, 2026, NET Power had 91,700,715 shares of Class A Common Stock and 133,401,325 shares of Class B Common Stock outstanding, according to the filing.
  • Filer classification: The company is classified as a non-accelerated filer, a smaller reporting company, and an emerging growth company, as indicated on the cover page.
  • Exchange listing: Class A Common Stock trades on NYSE:NPWR, and warrants exercisable for one share of Class A Common Stock at $11.50 each trade under the symbol NPWR-WT, also on The New York Stock Exchange.
  • EPC agreement risk: The filing identifies as a risk factor the company's "ability to agree on and execute a change order relocating the work under the engineering, procurement and construction agreement for its initial project, to resume that work and to fund the related payments."
  • Texas permitting risk: The filing cites the September 2026 pause in the issuance of permits for data center projects directed by the Governor of Texas as a named risk to grid interconnection and project timelines.
  • Carbon capture dependency: The filing identifies a risk that the company's projects "are developed without carbon capture," and notes uncertainty around obtaining post-combustion carbon capture technology from Entropy Inc. or another provider.

NET Power's Q3 2026 Quarterly Disclosure: Key Risks and Capital Structure

NET Power Inc. (NYSE:NPWR), a Delaware-incorporated company headquartered at 11700 Katy Freeway, Suite 700, Houston, Texas 77079, submitted its Form 10-Q for the quarterly period ended September 30, 2026. The company confirmed it has filed all reports required during the preceding 12 months and submitted all required Interactive Data Files electronically, according to the cover page disclosures.

The filing's forward-looking statements section identifies a broad set of risks specific to the company's development-stage activities. Among them, the company points to its "capital-intensive nature" as likely requiring it "to raise additional capital in the future." It also cites risks related to tariffs, trade barriers, export controls, and sanctions affecting equipment costs and supply timelines, as well as the competitive threat from battery storage, nuclear, and other generation resources. The filing notes uncertainty around Section 45Q tax credits for carbon capture, including "restrictions on the value, transferability, and monetization of such credits."

The filing additionally flags the September 2026 directive from the Governor of Texas pausing permits for data center projects, and references "the policies of the Texas administration taking office in January 2027" as a named uncertainty affecting the company's grid interconnection and permitting outlook. NET Power has not elected to use the extended transition period for complying with new or revised financial accounting standards under Section 13(a) of the Exchange Act, per the cover page. The company confirmed it is not a shell company.

What Was Disclosed

NET Power Inc. filed a Form 10-Q for the quarter ended September 30, 2026, disclosing its share counts as of November 10, 2026, its filer classifications, and an extensive set of forward-looking risk factors covering project financing, permitting, carbon capture technology, and supply chain conditions.