Dan Rice Buys Co. that Builds Zero-Carbon Gas-Fired Electric Plants

The Rice boys--Dan, Toby, and Derek--have done it again. Yesterday, the Rice boys' second publicly traded shell company (or SPAC), called Rice Acquisition Corp II, announced it is acquiring NET Power--an electric power developer with revolutionary new technology to capture every last molecule of carbon dioxide from natural gas-fired power plants. The deal values NET Power at $1.46 billion. Existing shareholders, including Occidental Petroleum, Constellation Energy, and Baker Hughes, will roll their existing equity into a new public version of the company. Both the Rice boys and Oxy will contribute another $100 million in equity each. When the deal is done, the current CEO of NET will retire, and Dan Rice will take over as CEO.

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