NET Power, a startup developing zero-emission power stations using the Allam-Fetvedt Cycle technology, announced that it will develop and build the world’s first utility-scale natural gas-fired power plant with near-zero atmospheric emissions. This plant also fully integrates power production with transportation and underground sequestration of carbon dioxide (CO2).

The plant, which is expected to be online in 2026, will be built near Occidental’s Permian Basin operations in Odessa, Texas. The project is aiming for ~300 MW of carbon-free power and will transport the captured CO2 to a permanent underground sequestration location using Occidental’s existing Permian CO2 handling infrastructure and operations.

NET Power’s technology can produce power while capturing nearly all emissions with its patented oxy-fuel combustion and supercritical CO2 cycle. As such, these plants can produce clean, on-demand power at low cost and eliminate air emissions, including nitrogen oxides, sulfur oxides, and carbon dioxide. This utility-scale project will commercially launch NET Power’s technology and accelerate other projects it has in development.

The project will be financed through a combination of NET Power’s current capitalization program, investments from existing shareholders, and new project financing. The company is also pursuing government support with a special focus on grant and loan opportunities arising from the US Bipartisan Infrastructure Law.