On Sept 30, NET Power's Unit & Baker Hughes Energy Services Entered Into Variation Agreement No. 2; Pursuant To LNTP, Co Will Pay Baker Hughes Up To About $90M For Purchase Of Long-Lead Materials
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NET Power and Baker Hughes Energy Services have entered into a variation agreement, where NET Power will pay Baker Hughes up to $90 million for long-lead materials. This agreement is part of a Limited Notice to Proceed (LNTP) as per an SEC filing.
October 04, 2024 | 8:39 pm
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POSITIVE IMPACT
Baker Hughes will receive up to $90 million from NET Power for long-lead materials, as part of a new agreement. This deal could enhance Baker Hughes' revenue stream.
The agreement with NET Power is likely to positively impact Baker Hughes' revenue, as it secures a substantial payment for materials, indicating a boost in business activity.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
NET Power has entered into a significant agreement with Baker Hughes, committing up to $90 million for long-lead materials. This move indicates a strategic investment in their operations.
The agreement with Baker Hughes suggests NET Power is making a strategic investment in its operations, which could positively impact its stock price as it indicates growth and expansion plans.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80