By Kelly Cloonan
Net Power's Chief Financial Officer Akash Patel and President and Chief Operating Officer Brian Allen have been relieved of their responsibilities and are leaving the company.
The energy technology company said Tuesday the two executives will officially depart May 1.
Chief Executive Danny Rice will assume the title of president and interim CFO and will lead the company's future project funding endeavors.
Marc Horstman, the company's head of product development, will succeed Allen as COO, effective immediately. Horstman joined the company in May 2023 after more than 20 years of experience in the power sector, the company said.
Rice said the company's business requires constant assessment and adjustments along the way.
"Changes like these are tough but essential to ensure we're best positioned to achieve the ambitious potential of our proprietary technology," Rice said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 15, 2025 16:50 ET (20:50 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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