NET Power went public via a SPAC merger with Rice Acquisition II in a $1.5bn deal.

NET Power, a clean energy technology company, went public via a SPAC merger with Rice Acquisition II, a special purpose acquisition company, in a $1.5bn deal. The transaction includes a PIPE investment from Occidental, 8 Rivers, Constellation and other investors. “This deal sets NET Power on a path to accelerate the buildout and commercialization of our technology and bring the world the trifecta of clean, affordable, and reliable energy. Rapid deployment of decarbonized baseload power around the world is critical to addressing climate change and NET Power’s technology offers a path forward. I’m excited to join the team and lead the global deployment of this critical technology,” Danny Rice, NET Power CEO.