Marc Horstman
About Marc Horstman
Marc Horstman, age 50, is Chief Operating Officer of NET Power Inc. (NPWR) and was appointed on April 15, 2025 after serving as Head of Product Development since joining the company in May 2023; he holds a B.S. in Mechanical Engineering from the University of Dayton . Company performance context: Revenues were $175,000 in FY 2023 and $250,000 in FY 2024, while EBITDA remained negative; see table below (revenue values cited; EBITDA values from S&P Global marked with an asterisk) .
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenues ($USD) | $175,000 | $250,000 |
| EBITDA ($USD) | ($118,965,000)* | ($167,027,000)* |
Values retrieved from S&P Global.*
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Vertiv Holdings Co. | Vice President, North America Service Operations | Oct 2021 – Nov 2022 | Led regional service operations in critical digital infrastructure |
| Vertiv Holdings Co. | Senior Director, Project Execution | Jun 2019 – Sep 2021 | Oversaw project execution and delivery |
| Siemens | Senior Executive Vice President, Americas | Apr 2017 – Dec 2018 | Senior operating leadership across Americas |
| Siemens | Vice President, Global Customer Operations | Apr 2016 – Apr 2017 | Led global customer operations |
| Siemens | Vice President, Global Manufacturing & Test | Dec 2014 – Apr 2016 | Directed global manufacturing/testing functions |
| Rolls-Royce | Project/Product Leadership Roles | 2011 – 2014 | Various leadership roles in projects/products |
| General Electric | Project/Product Leadership Roles | 1999 – 2011 | Various leadership roles in projects/products |
| U.S. Army | Engineer Officer | Not disclosed | Early career commission as Engineer Officer |
External Roles
No external public-company directorships or committee roles were disclosed for Mr. Horstman in the 2025 proxy or related filings reviewed .
Fixed Compensation
| Component | FY 2024 | FY 2025 Status/Notes |
|---|---|---|
| Base Salary | Not disclosed (not a Named Executive Officer for FY 2024) | Compensation adjustments connected to COO appointment “not determined” as of April 15, 2025 |
| Target Bonus % | Not disclosed | Not determined as of April 15, 2025 |
| Actual Bonus Paid | Not disclosed | Not determined as of April 15, 2025 |
As an emerging growth company, NPWR’s proxy disclosed compensation for CEO and two other most highly compensated executive officers; Mr. Horstman was not among NEOs for FY 2024 .
Performance Compensation
No Horstman-specific RSU/PSU/option grant details, vesting schedules, or performance metric weightings were disclosed in the 2025 proxy or appointment 8-K as of April 15, 2025 .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (Class A + B) | 1,845 shares of Common Stock |
| Ownership as % of shares outstanding | Less than 1% (“*”) |
| Hedging/derivatives | Prohibited under Insider Trading Policy (short-term trades, short sales, publicly-traded options, hedging/monetization) |
| Pledging/margin | Prohibited (no holding in margin accounts or pledging as collateral) |
| Stock ownership guidelines (executive) | Not disclosed in filings reviewed |
Employment Terms
| Term | Detail |
|---|---|
| Employment start date at NPWR | May 2023 (Head of Product Development) |
| Current role | Chief Operating Officer (appointed April 15, 2025) |
| Severance Plan participation | Eligible under Amended and Restated Executive Severance Plan |
| Severance (outside Change in Control period) | Lump sum: Base Salary + average annual bonus (preceding two years) + pro‑rata target bonus + 12 months of group health premiums |
| Severance (during Change in Control period) | Lump sum: 1.5×(Base Salary + average annual bonus) + pro‑rata target bonus + 1.5×(12 months group health premiums) |
| Qualifying Termination definition | Without Cause or resignation for Good Reason (with notice/cure rights) |
| Change in Control period window | Begins 3 months pre‑CIC and ends 2 years post‑CIC |
| Restrictive covenants | Compliance required under Severance Plan; specifics not detailed in proxy excerpts |
| Indemnification | Standard form indemnification agreement; full advancement/reimbursement to fullest extent under Delaware law |
| Family relationships/related transactions | None required to be disclosed; no current/proposed related transactions involving Horstman noted |
Investment Implications
- Alignment and selling pressure: Beneficial ownership is de minimis at 1,845 shares and less than 1%; hedging and pledging are prohibited, reducing leverage-driven selling risk but ownership “skin in the game” appears low .
- Retention and change-of-control economics: Participation in the Executive Severance Plan (1.0× base+avg bonus outside CIC; 1.5× inside CIC plus benefits) implies double-trigger style protection requiring a Qualifying Termination, offering moderate retention incentives without excessive golden parachute multiples .
- Compensation visibility: As of his April 2025 appointment, compensation adjustments had not been determined; lack of disclosed equity grants or performance metrics for Horstman limits pay-for-performance assessment and near-term insider selling signal analysis .
- Execution track record: Senior operations roles at Vertiv and Siemens plus long tenures at GE/Rolls-Royce suggest strong operational depth for NPWR’s scale-up phase; operational leadership background is consistent with COO mandate .
- Company operating backdrop: Revenues remain minimal while EBITDA is deeply negative, indicating heavy development-stage investment; equity incentives tied to operational milestones for other executives suggest NPWR emphasizes plant ignition/licensing triggers, though Horstman-specific awards were not disclosed .
Notes: EBITDA values marked with an asterisk were retrieved from S&P Global.