# SK Group commits $50M to NET Power and plans Asia joint venture

SK Group made a $50 million PIPE commitment to NET Power and Rice Acquisition Corp. II, and announced intent to form a joint venture to develop NET Power plants in Asia. The JV will use NET Power's oxy-combustion supercritical CO2 power cycle technology.

- Type: Investment
- Announced: 2023-05-19
- Value: $50.0M
- Status: announced
- Products: oxy-combustion supercritical CO2 power cycle technology
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Net Power](https://endata.com/companies/69804.md)
- [SK디앤디](https://endata.com/companies/20456.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/20/net-power-and-rice-acquisition-corp-ii-secure-50-million-pipe-commitment-from-sk-group-and-announce-intent-to-form-joint-venture-to-accelerate-deployment-of-net-power-plants-in-asia), 2023-05-19: "We believe that NET Power possesses the most cost-effective technology for decarbonizing fossil fuel-based power generation, and we are thrilled to partner with SK to deploy our NET Power plants on a large scale throughout Asia."

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