NET Power extends EPC deadline with Saulsbury to March 31, 2027; $3.5 million termination fee deferred
NET Power's subsidiary and Saulsbury Industries agreed on October 16, 2026 to extend the deadline for the full notice to proceed and the Mobilization Payment under their engineering and construction contract from October 15, 2026 to March 31, 2027. The $3.5 million termination payment is deferred, but only if the parties sign a Fourth Amendment and a limited notice to proceed and make the required payments by November 15, 2026. The filing says the company has no committed project financing, and shareholders face the risk that the payment becomes due if these conditions are not met.
Key points
- Extension Agreement dated effective October 15, 2026 moves the FNTP and Mobilization Payment deadline to March 31, 2027.
- The $3.5 million Termination Payment is deferred if the Fourth Amendment and LNTP are executed and the LNTP payments are made by November 15, 2026.
- If those conditions are not met, the Termination Payment is due within ten days after Saulsbury's written demand and invoice.
- The filing states there is no committed equipment or project-level financing, customer funding or partner capital, other than a cost reimbursement arrangement subject to approval and an aggregate cap.
The filing
Written by AI on Nov 9, 2026, 11:45 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 22, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.