# Occidental and Rice family increase PIPE commitments in NET Power deal

Occidental and the Rice family increased their PIPE investments by $275 million combined in NET Power's proposed business combination with Rice Acquisition Corp. II, bringing total committed capital to $510 million.

- Type: Investment
- Announced: 2023-04-24
- Where: Durham, North Carolina, United States
- Value: $275.0M
- Status: announced
- Products: utility-scale power plant, clean power
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Net Power](https://endata.com/companies/69804.md)
- [Occidental](https://endata.com/companies/55826.md) (investor)
- [Rice Acquisition Corp. II](https://endata.com/companies/69904.md) (partner)

## Sources

- [ir.netpower.com](https://ir.netpower.com/resources/press-releases/detail/17/net-power-and-rice-acquisition-corp-ii-announce-upsized-pipe-commitments-from-occidental-and-rice-family), 2023-04-24: "We believe NET Power's technology can accelerate emissions reductions in our existing operations."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.