NET Power to Combine with Rice Acquisition Corp. II to Accelerate Decarbonization of Natural Gas Power Generation

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Dec 14, 2022

Rice Acquisition Corp. II (NYSE: RONI) (“RAC II”), a special purpose acquisition company focused on supply-side decarbonization solutions, and NET Power, LLC (“NET Power”) today announced a definitive agreement to enter into a business combination (the “transaction”) to accelerate deployment of NET Power’s proprietary technology that delivers clean, reliable, and low-cost power from natural gas. After the business combination, the company will be named NET Power Inc. (the “combined Company”). The transaction is expected to close in the second quarter of 2023 and the combined Company will be listed on the NYSE under the ticker symbol “NPWR”.