Net Power Names Lee Shuman as New Chief Financial Officer

DURHAM, N.C.--(BUSINESS WIRE)--Net Power Inc. (NYSE: NPWR) (“Net Power” or the “Company”) announced Lee Shuman as the new Chief Financial Officer (CFO) effective April 13, 2026.

“I am pleased to welcome Lee Shuman to the Net Power team,” shared Net Power’s Chief Executive Officer, Danny Rice. “As part of our strategic pivot to be a leader in the commercial deployment of new clean gas power plants, Lee’s proven track record— executing strategic financing for new power generation—is the right experience to add and at the right time.”

Mr. Shuman formerly served as Head of Power Finance for Javelin Global Commodities and prior to that served as the CFO of WattBridge Energy. Over the course of his 25-year career, Mr. Shuman has led the financing for over $10 billion of power-related transactions, including acquisitions, divestitures, reorganizations, and development across thermal, renewable, and distributed energy solutions. In his new role as CFO of Net Power, Mr. Shuman will lead the Company’s overall financing strategy with an emphasis on project-level financing.

Mr. Shuman noted, “I am excited to join the Net Power team where I plan to draw upon my decades of experience to lead the development of the financial engine to help commercialize their differentiated clean firm power solutions and ultimately deliver on the company’s mission to transform natural gas into the lowest-cost form of clean, firm power.”

Mr. Shuman assumes the CFO duties from Mr. Rice, who has served as the Company’s interim CFO since April 2025. Mr. Rice will continue to serve as the Company’s principal financial officer for SEC purposes through the date of filing the Company’s Quarterly Report on Form 10-Q for the three months ended March 31, 2026, whereupon Mr. Shuman will assume the role of the Company’s principal financial officer. Mr. Rice will continue his role as Chief Executive Officer.

About Net Power

Net Power (NYSE: NPWR) is an energy technology and project development company focused on delivering low-carbon gas power solutions. Founded in 2010, our mission is to transform natural gas into the lowest cost form of clean firm power.