A Natural-Gas Billionaire Bets on Greener Fossil Fuel

A company called NET Power has developed a new process that uses natural gas to generate electricity in a way that could significantly reduce CO2 emissions. This technology would be a complement to renewable energy sources like wind and solar, which cannot provide continuous power.

The company’s innovative process involves burning natural gas with oxygen, producing a mix of CO2 and water that drives a turbine. The CO2 is then either reused or sequestered underground, resulting in almost zero emissions.

The technology has not yet been proven effective at a commercial scale, and the initial plants will be more expensive to construct than traditional gas plants.

The potential market for NET Power’s technology is vast, encompassing over 800 plants in the U.S. alone. However, challenges remain, including proving the technology at scale, securing land and permits for CO2 sequestration, and public acceptance of natural gas as a net-zero fuel. Despite these hurdles, NET Power CEO Danny Rice is optimistic about the company’s future and its role in decarbonizing the energy sector.

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