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v3.23.1

Property, Plant and Equipment | 3 Months Ended
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Mar. 31, 2023
Property, Plant and Equipment |
Property, Plant and Equipment | Note 3 – Property, Plant and Equipment Property, plant and equipment are summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2023 |  | December 31, 2022 | ​
Commercial production equipment | ​ | $ | 23,631 | ​ | $ | 21,595 | ​
Laboratory equipment | ​ | ​ | 4,916 | ​ | ​ | 3,278 | ​
Leasehold improvements | ​ |  | 38,253 | ​ |  | 27,996 | ​
Furniture and computer equipment | ​ |  | 1,483 | ​ |  | 1,482 | ​
Construction in progress | ​ |  | 33,494 | ​ |  | 40,036 | ​
Total cost | ​ |  | 101,777 | ​ |  | 94,387 | ​
Accumulated depreciation | ​ |  | (13,886) | ​ |  | (11,626) | ​
Net property and equipment | ​ | $ | 87,891 | ​ | $ | 82,761 | ​
​ Depreciation expenses are allocated ratably across operating expenses on the accompanying Condensed Consolidated Statements of Operations. Depreciation expenses for dedicated laboratory equipment and commercial production equipment are charged to research and development; other depreciation expenses are included in the Company’s overhead and are allocated across operating expenses on the accompanying Condensed Consolidated Statements of Operations based on Company personnel costs incurred. Depreciation expense related to property, plant, and equipment are summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, | ​
​ | ​ | 2023 |  | 2022 | ​
Depreciation expense | ​ | $ | 2,259 | ​ | $ | 751 | ​
​ In 2022, the Company expanded its cell production capabilities through the construction of a second dry room and installation of a second cell pilot production line at its Louisville, Colorado facility, which is designed to produce larger format solid-state battery cells for the automotive qualification process. The Company is expanding its electrolyte production to a second location in Thornton, Colorado. Scaling this production will allow it to produce larger quantities of electrolyte material required to feed cell-production lines and continue research and development efforts. The Company will begin producing electrolyte from this facility in 2023 and have placed portions of the facility into service. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2023 | ​ | December 31, 2022 | ​
Construction in progress | ​ | ​ | ​ | ​ | ​ | ​ | ​
Louisville, Colorado - 2nd cell pilot line | ​ | $ | 2,010 | ​ | $ | 2,010 | ​
Louisville, Colorado - Other capital projects | ​ | ​ | 2,431 | ​ | ​ | 2,206 | ​
Thornton, Colorado - Increased electrolyte production scale | ​ | ​ | 29,053 | ​ | ​ | 35,820 | ​
​

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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