Technology Commercialization Risk: Net Power's core technology, while demonstrated at a pilot level, faces the inherent risk of scaling up to full commercial operation, potentially encountering unforeseen technical challenges, cost overruns, or delays.

Market Adoption and Competition Risk: The successful adoption of Net Power's technology by power generators depends on its economic competitiveness against established and emerging power generation methods, including renewables, traditional gas with carbon capture, and other advanced energy solutions.

Regulatory and Permitting Risk: Building and operating new power plants, especially those involving novel technologies and CO2 handling, is subject to complex and evolving environmental regulations, permitting processes, and potential policy changes that could impact project timelines and costs.