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Related Party Transactions
 3 Months Ended
Mar. 31, 2024
Related Party Transactions [Abstract]  
Related Party Transactions

Note 20—Related Party Transactions

TotalEnergies S.E.

In the three months ended March 31, 2023, the Company recognized revenue of $1.4 million relating to RINs and LNG sold to TotalEnergies and its affiliates in the ordinary course of business, equipment lease revenue, AFTCs, and settlements on commodity swap contracts (Note 6). No revenue from TotalEnergies was recognized in the three months ended March 31, 2024. Outstanding receivables due from TotalEnergies were immaterial as of December 31, 2023 and March 31, 2024.

In the three months ended March 31, 2023 and 2024, the Company paid TotalEnergies $0.7 million and $1.7 million, respectively, for expenses incurred in the ordinary course of business, settlements on commodity swap contracts (Note 6), and the guaranty fee under the Credit Support Agreement with TotalEnergies Holdings USA Inc., a wholly owned subsidiary of TotalEnergies. Outstanding payables due to TotalEnergies were $0.1 million as of March 31, 2024 and immaterial as of December 31, 2023.

SAFE&CEC S.r.l.

In three months ended March 31, 2023, the Company received $0.2 million from SAFE&CEC S.r.l. in the ordinary course of business. No cash was received from SAFE&CEC S.r.l. in the three months ended March 31, 2024. As of December 31, 2023 and March 31, 2024, the Company had receivables due from SAFE&CEC S.r.l. of $0.3 million and $0.5 million, respectively.

In the three months ended March 31, 2023 and 2024, the Company paid SAFE&CEC S.r.l. $3.0 million and $2.5 million, respectively, for parts and equipment in the ordinary course of business. As of December 31, 2023 and March 31, 2024, the Company had payables due to SAFE&CEC S.r.l. of $8.1 million and $9.7 million, respectively.

TotalEnergies Joint Venture(s) and bpJV

Pursuant to the contractual agreements of the TotalEnergies joint venture(s) and bpJV, the Company manages day-to-day operations of RNG projects in the joint ventures in exchange for an O&M fee and management fee. In the three months ended March 31, 2023 and 2024, the Company recognized total management and O&M fee revenue of $0.4 million and $0.9 million, respectively. As of December 31, 2023 and March 31, 2024, the Company had management and O&M fee receivables due from the joint ventures with TotalEnergies and bp of $0.3 million and $0.4 million, respectively.

In the three months ended March 31, 2023 and 2024, the Company paid $0.5 million and $0.1 million, respectively, on behalf of the joint ventures for expenses incurred in the ordinary course of business. As of December 31,

2023 and March 31, 2024, outstanding receivables due from the joint ventures with TotalEnergies and bp were $0.7 million, representing outstanding unreimbursed expenses that the Company paid on behalf of the joint ventures.

In the three months ended March 31, 2023 and 2024, the Company received $0.2 million and $1.2 million, respectively, from the joint ventures with TotalEnergies and bp for management and O&M fees and reimbursement of expenses incurred in the ordinary course of business. In the three months ended March 31, 2024, the Company paid $1.1 million to the joint ventures with TotalEnergies and bp, relating to environmental credits pursuant to the contractual agreements of the TotalEnergies joint venture(s) and bpJV. No amounts were paid to the joint ventures with TotalEnergies and bp in the three months ended March 31, 2023. As of December 31, 2023 and March 31, 2024, the Company had payables due to the joint ventures with TotalEnergies and bp of $0.6 million and $0.8 million, respectively, relating to environmental credits pursuant to the contractual agreements of the TotalEnergies joint venture(s) and bpJV.

Rimere

In the three months ended March 31, 2023 and 2024, the Company provided $1.1 million and $3.5 million, respectively, to Rimere in connection with its loan commitments (see Note 17). As of December 31, 2023 and March 31, 2024, the carrying amount of the Company’s convertible promissory notes measured at fair value was $2.3 million and $4.7 million, respectively, and is included in “Other receivables” as of December 31, 2023 and March 31, 2024 in the accompanying condensed consolidated balance sheets.

In the three months ended March 31, 2023 and 2024, the Company recognized management fee revenue of $0.2 million and $0.2 million, respectively. As of December 31, 2023 and March 31, 2024, the Company had management fee receivables due from Rimere of $0.7 million and $0.1 million, respectively.