Shares of Net Power climbed after the company disclosed two agreements it said would advance its strategy to prioritize speed, reliability and scale for large-load customers.

The stock rose 19%, to $2.03, in midday trading Monday. Despite the gain, shares are off about 19% since the beginning of the year.

The energy-technology company said before the bell that it secured the rights to acquire 123 megawatts of new power-generation equipment, bringing its total potential power generation capacity to nearly 200 megawatts for the first phase of its inaugural land project in Texas.

Net Power also said it entered an agreement with an unnamed, prospective customer that in part provides for the reimbursement of certain costs incurred by Net Power tied to the procurement of the 123 megawatts of new equipment.

"Entering into these agreements is a practical next step in our power-first strategy," Chief Executive Danny Rice said. "When taken together, these agreements provide us the opportunity to secure and deliver more power sooner with appropriate financial protections."