NET Power Inc (NYSE: NPWR), the company developing a solution delivering clean, affordable, reliable and dispatchable energy, announced a new strategic agreement. It has signed a Strategic Supply Agreement with Lummus Technology – a company providing process technologies, to design and supply recuperative heat exchangers (HXR) for NET Power’s power generation process.
The recuperative heat exchangers recover heat by cycling through a high-temperature metallic heat exchanger. In the energy industry, they are mostly used to preheat combustion air to a furnace. Lummus will use the recuperative heat exchangers to recover energy from the turboexpander exhaust and air separation unit to reheat recirculated CO2.
Net Power’s technology innovation applies the concept of the water steam cycle in water heating where the steam from water boiling is used in a closed loop to turn a turbine to turn a generator to create electricity. Then the steam is condensed back to water and put back to the boiler to repeat the process.
Net Power uses pure CO2 as the working fluid. When fossil fuels are burned they generate energy in a working fluid. The CO2 from the process is put through a turbo expander that turns a generator to create power. After that, the CO2 goes back in the front of the system to continue the process, in a closed loop much like the steam. Instead of separated and being released into the atmosphere through a tailpipe, the CO2 from the energy generation process is being used from the system to create the energy.
According to the agreement, Lummus becomes the licensed NET Power HXR supplier to provide HXR systems for NET Power’s utility-scale power plants. After completion of the Project Permian Front-End Engineering Design, NET Power will issue a purchase order to Lummus for its first utility-scale power plant in Texas.
Under the terms of the strategic agreement, Lummus intends to leverage its global supply chain network to increase global HXR manufacturing capacity, enabling NET Power deployments at scale to help countries and communities around the world achieve their energy and environmental goals quickly.
“This Strategic Supply Agreement marks an important milestone in implementing NET Power’s three-pillared strategy of proving our technology, building our backlog, and manufacturing for scale… Lummus’ expertise in licensed technology as well as designing equipment for proprietary processes makes them an ideal strategic supplier to enable NET Power to deliver the energy trifecta,” said Brian Allen, President and COO of NET Power.
If successful at scaling its technology deployment worldwide, the company can offer a reliable source of energy that is non-intermittent and does not emit CO2 emissions straight into the atmosphere, normally associated with standard natural gas power generation. Thus, it can address the critical issue of mitigating climate change while also truly reducing the emissions of the natural gas energy generation sector.