Dan Rice’s NET Power Issues 1st Quarterly Update as Public Co.

Last December, Rice Acquisition Corp II, a special purpose acquisition company (SPAC) started by the Rice brothers (Danny, Toby, and Derek), announced a deal to acquire NET Power--an electric power developer with revolutionary new technology to capture every last molecule of carbon dioxide from natural gas-fired power plants (see Dan Rice Buys Co. that Builds Zero-Carbon Gas-Fired Electric Plants). The Rice deal to buy NET Power closed in early June, with Danny Rice (former CEO of Rice Energy) becoming the new CEO of NET Power (see NET Power Completes $1.5B Merger with Rice Acquisition Corp.). Yesterday NET Power issued its first quarterly update (for the second quarter of 2023) since becoming a publicly traded company.

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