Agreement Aligns with and Strengthens Lummus'
Commitment to Decarbonizing Its Technology Portfolio, Including
Proprietary Equipment
HOUSTON, Dec. 6, 2023
/PRNewswire/ -- Lummus Technology announced it has signed a
Strategic Supply Agreement with NET Power Inc. (NYSE: NPWR) ("NET
Power") to design and supply recuperative heat exchangers ("HXR")
for NET Power's near-zero emissions power generation process. The
HXR recovers energy from the turboexpander exhaust and air
separation unit to reheat recirculated CO2, making it
one of the most important equipment components in the NET Power
Cycle.
"Lummus is proud to partner with NET Power, which has developed
a way to efficiently and effectively produce electricity that is
clean and economical," said Leon de
Bruyn, President and Chief Executive Officer, Lummus Technology. "The NET Power Cycle system
combines seamlessly with our advanced heat exchanger technology to
minimize energy consumption and carbon emissions. We look forward
to working with NET Power to deliver low carbon power and help them
expand their offering to consumers around the world."
As the licensed NET Power HXR supplier, Lummus will provide HXR
systems for NET Power's utility-scale power plants. Upon completing
the Project Permian Front-End Engineering Design (FEED), NET Power
intends to issue a purchase order to Lummus for its first
utility-scale power plant in Texas. Under the terms of the Strategic Supply
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 rapidly achieve their energy and environmental
goals.
"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,"
said Brian Allen, President and COO
of NET Power. "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."
Lummus has provided process industries worldwide with licensed
technologies for more than 100 years. During that time, Lummus has
designed and supplied more than 25,000 heat exchangers, including
high pressure applications. The NET Power Cycle HXR leverages
Lummus' decades of experience in heat transfer equipment design and
delivery for proprietary systems.
NET Power's transformational technology produces power while
inherently capturing nearly all emissions with its patented
oxy-fuel combustion and supercritical CO2 cycle.
NET Power seeks to deploy utility-scale plants that produce clean,
on-demand power at low cost and address critical issues of air
quality and land use, virtually eliminating air emissions including
nitrogen oxides (NOx), sulfur oxides (SOx), and carbon dioxide
(CO2).
About Lummus Technology
Lummus Technology is the
global leader in developing technology solutions that make modern
life possible and focus on a more sustainable, low carbon future.
We license process technologies in clean fuels, renewables,
petrochemicals, polymers, gas processing and supply lifecycle
services, catalysts, proprietary equipment and digitalization to
customers worldwide. To learn more about Lummus,
visit www.LummusTechnology.com.
About NET Power
NET Power (NYSE: NPWR) is a clean
energy technology company developing its proprietary NET Power
Cycle, which transforms natural gas into low-cost, clean and
reliable power. The Company is on a mission to deploy its
utility-scale plants across the world by partnering with local
communities, power producers, energy producers, technology
providers and other stakeholders. NET Power was founded in 2010 and
has offices in Durham, North
Carolina (HQ) and Houston,
Texas. For more information, visit netpower.com.
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SOURCE Lummus Technology, LLC