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INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | INTANGIBLE ASSETS In September 2024, as part of the acquisition of the Barber Lake Facility, the Company obtained certain regulatory approvals related to the site. As a result, the Company added $17.0 million of Strategic contracts related to the transaction. The Company’s intangible assets consisted of the following (in thousands):
| September 30, 2024
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Strategic contracts | $ | 24,045 |  |  | $ | (292) |  |  | $ | 23,753 |
Capitalized software | 2,289 |  |  | (300) |  |  | 1,989 |
Total | $ | 26,334 |  |  | $ | (592) |  |  | $ | 25,742 |
| December 31, 2023
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Strategic contract | $ | 7,000 |  |  | $ | (28) |  |  | $ | 6,972 |
Capitalized software | 1,230 |  |  | (93) |  |  | 1,137 |
Total | $ | 8,230 |  |  | $ | (121) |  |  | $ | 8,109 |
The Company recorded amortization expense related to intangible assets of $0.2 million and $0.5 million in the three and nine months ended September 30, 2024, respectively, and nil in both the three and nine months ended September 30, 2023. The Company expects to record amortization expense as follows over the next five subsequent years:
(in thousands) |
Remainder of 2024 | $ | 542 |
Year Ended December 31, 2025 | 658 |
Year Ended December 31, 2026 | 658 |
Year Ended December 31, 2027 | 658 |
Year Ended December 31, 2028 | 566 |

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