Net Power Inc. entered into three agreements with Baker Hughes affiliates on September 8, 2026, indefinitely suspending the Amended and Restated Joint Development Agreement (A&R JDA) and Commercial Agreement while amending the License Agreement to establish revised industrial-scale licensing arrangements. The transaction terminates Baker Hughes' access rights to the La Porte Demonstration Facility and preserves its exclusive utility-scale equipment license, but establishes royalty-bearing licenses for industrial plants where amounts are not yet agreed upon. Net Power will no longer fund further development of its Oxy-Combustion Cycle technology under these agreements. This follows a $193.7 million non-cash impairment charge recorded in the quarter ended June 30, 2026, which reduced the carrying amount of the company's Developed Technology Asset Group to zero. Net Power Inc. operates in the power generation industry, developing and licensing oxy-combustion technology for natural gas power plants.