Net Power Inc. (NYSE:NPWR) announced that it has completed the acquisition of contractual rights to approximately 123 megawatts (MW) of new natural‑gas power generation equipment. The transaction, first disclosed on 24 August 2026, was finalized on 31 August 2026 when Net Power acquired the rights from EMPower USA, LLC and assumed post‑closing obligations under an existing agreement with Saulsbury Industries, Inc.
The acquisition brings Net Power’s total potential generation capacity for the first phase of its Project Permian – the company’s inaugural powered‑land development in West Texas – to nearly 200 MW. Under the deal, Saulsbury Industries consented to transfer its engineering, procurement, and construction (EPC) responsibilities for the approximately 123 MW reciprocating‑engine natural‑gas facility to Net Power and to relocate the plant to the Project Permian site.
The acquired position also includes rights and benefits under an equipment‑supply agreement for ten engine‑generator sets that will be supplied by Wärtsilä North America, Inc. Marc Horstman, President and Chief Operating Officer of Net Power, explained that the Wärtsilä reciprocating engines were chosen for their fast‑start capability and ability to modulate output to match variable load, and that the ten‑unit modular configuration permits servicing of individual engines without shutting down the entire facility.
Saulsbury Industries will serve as the turnkey EPC contractor, handling engineering, procurement, construction, commissioning, and start‑up of the facility. The firm is noted for its track record in executing gas‑fired power and energy‑infrastructure projects across Texas.
Following the announcement, Net Power’s shares rose 4.4% in after‑hours trading on Thursday, reflecting market optimism about the expanded generation capacity and the strategic acquisition.