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Related Party Transactions
 12 Months Ended
Dec. 31, 2025
Related Party Transactions  
Related Party Transactions

27. Related Party Transactions

ECOTEC

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During the years ended December 31, 2025 and 2024, we made purchases of $0.4 million and $0.5 million, respectively from our unconsolidated affiliate ECOTEC for use in our operations.

FGC Holdco

We are a distributer of MaCH4 NRS equipment in the U.S. market and had committed to purchase from FGC Holdco, at arm’s length, a minimum of $64.3 million of MaCH4 NRS equipment through March 31, 2026, subject to certain contractual provisions under the limited liability agreement that we, together with ColdStream, entered into with FGC Holdco on October 1, 2024. On August 26, 2025, we amended the limited liability agreement and agreed to, among other items, cancel our remaining MaCH4 NRS purchase commitments. We incurred and paid an amendment fee of $3.6 million to FGC Holdco, which is included in other expense, net, in our consolidated statements of operations. During the years ended December 31, 2025 and 2024, we made MaCH4 NRS purchases of $3.5 million and $6.1 million, respectively, from our unconsolidated affiliate FGC Holdco to sell to third parties or for use in our operations.

The carrying value of assets and liabilities recognized in our consolidated balance sheets related to our variable interests in FGC Holdco and our maximum exposure to loss related to our involvement with an unconsolidated VIE were as follows:

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December 31, 

(in thousands)

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2025

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2024

Inventory

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$

7,718

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$

6,103

Investment in unconsolidated affiliate

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159

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191

Total VIE assets

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7,877

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6,294

Maximum exposure to loss

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$

7,877

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$

6,294

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Hilcorp

From August 2019 to present, our Board of Directors has included a member affiliated with our customer Hilcorp or its subsidiaries or affiliates. Revenue from Hilcorp and affiliates was $40.5 million, $40.7 million and $35.4 million during the years ended December 31, 2025, 2024 and 2023, respectively.  Proceeds from the sale of used equipment to Hilcorp and affiliates was $9.9 million, $0.9 million and $0.2 million, during the years ended December 31, 2025, 2024 and 2023, respectively.

Accounts receivable, net due from Hilcorp and affiliates was $1.7 million and $3.6 million as of December 31, 2025 and 2024, respectively. See Note 5 (“Accounts Receivable, net”) for further details.

Shoreline AI

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During the year ended December 31, 2025, we made purchases of $0.3 million from our unconsolidated affiliate Shoreline AI for use in our operations.