NET Power And Rice Acquisition Corp. II Secure $50M PIPE Commitment From SK Group And Announce Intent To Form Joint Venture To Accelerate Deployment Of NET Power Plants In Asia
Portfolio Pulse from Happy Mohamed
NET Power and Rice Acquisition Corp. II (NYSE:RONI) have secured a $50 million PIPE commitment from SK Group and announced plans to form a joint venture to accelerate the deployment of NET Power plants in Asia. The joint venture aims to utilize NET Power's patented oxy-combustion supercritical CO2 power cycle and SK's regional expertise to deploy clean, low-cost power across key Asian markets.
May 19, 2023 | 12:48 pm
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Rice Acquisition Corp. II (NYSE:RONI) is partnering with NET Power to form a joint venture, backed by a $50 million PIPE commitment from SK Group, to deploy NET Power plants in Asia.
The joint venture between NET Power and Rice Acquisition Corp. II (RONI) is expected to have a positive short-term impact on RONI's stock price. The partnership aims to deploy clean, low-cost power across key Asian markets, which could lead to increased revenue and growth opportunities for RONI. The $50 million PIPE commitment from SK Group further strengthens the financial position of the joint venture and demonstrates confidence in the partnership's potential.
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