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Related Party Transactions | 6 Months Ended
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Jun. 30, 2024
Related Party Transactions [Abstract] |
Related Party Transactions | Note 20—Related Party Transactions TotalEnergies S.E. In the six months ended June 30, 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). Revenue recognized in the three months ended June 30, 2023 was immaterial. No revenue from TotalEnergies was recognized in the three and six months ended June 30, 2024. Outstanding receivables due from TotalEnergies were immaterial as of December 31, 2023 and June 30, 2024. In the three and six months ended June 30, 2023, the Company paid TotalEnergies $1.8 million and $2.5 million, respectively, for expenses incurred in the ordinary course of business and for settlements on commodity swap contracts (Note 6). In the three and six months ended June 30, 2024, the Company paid TotalEnergies $1.6 million and $3.2 million, respectively, for expenses incurred in the ordinary course of business and for settlements on commodity swap contracts (Note 6). Outstanding payables due to TotalEnergies were immaterial as of June 30, 2024 and December 31, 2023. SAFE&CEC S.r.l. In the three and six months ended June 30, 2023, the Company received $0.1 million and $0.3 million, respectively, from SAFE&CEC S.r.l. in the ordinary course of business. Cash receipts from SAFE&CEC S.r.l. were immaterial in the three and six months ended June 30, 2024. As of December 31, 2023 and June 30, 2024, the Company had receivables due from SAFE&CEC S.r.l. of $0.3 million and $0.5 million, respectively. In the three and six months ended June 30, 2023, the Company paid SAFE&CEC S.r.l. $6.2 million and $9.2 million, respectively, for parts and equipment in the ordinary course of business. In the three months ended June 30, 2024, cash payments to SAFE&CEC S.r.l. were immaterial. In the six months ended June 30, 2024, the Company paid SAFE&CEC S.r.l. $2.5 million for parts and equipment in the ordinary course of business. As of December 31, 2023 and June 30, 2024, the Company had payables due to SAFE&CEC S.r.l. of $8.1 million and $3.4 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 and six months ended June 30, 2023, the Company recognized total management and O&M fee revenue of $0.5 million and $0.9 million, respectively. In the three and six months ended June 30, 2024, the Company recognized total management and O&M fee revenue of $0.8 million and $1.6 million, respectively. As of December 31, 2023 and June 30, 2024, the Company had management and O&M fee receivables due from the joint ventures with TotalEnergies and bp of $0.3 million and $0.7 million, respectively. In the three and six months ended June 30, 2023, the Company paid $0.8 million and $1.2 million, respectively, on behalf of the joint ventures for expenses incurred in the ordinary course of business. In the six months ended June 30, 2024, the Company paid $0.1 million on behalf of the joint ventures for expenses incurred in the ordinary course of business, and, in the three months ended June 30, 2024, amounts paid on behalf of the joint ventures for expenses incurred in the ordinary course of business were immaterial. As of December 31, 2023 and June 30, 2024, outstanding receivables due from the joint ventures with TotalEnergies and bp were $0.7 million and $0.6 million, respectively, representing outstanding unreimbursed expenses that the Company paid on behalf of the joint ventures. In the three and six months ended June 30, 2023, the Company received $2.7 million and $3.0 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 and six months ended June 30, 2024, the Company received $1.0 million and $1.9 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 and six months ended June 30, 2024, the Company paid $1.2 million and $2.3 million, respectively, 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 and six months ended June 30, 2023. As of December 31, 2023 and June 30, 2024, the Company had payables due to the joint ventures with TotalEnergies and bp of $0.6 million and $0.4 million, respectively, relating to environmental credits pursuant to the contractual agreements of the TotalEnergies joint venture(s) and bpJV. Rimere In the three and six months ended June 30, 2023, the Company provided $1.2 million and $2.3 million, respectively, to Rimere in connection with its loan commitments (see Note 17). In the three and six months ended June 30, 2024, the Company provided $0.0 million and $3.5 million, respectively, to Rimere in connection with its loan commitments. As of December 31, 2023 and June 30, 2024, the carrying amount of the Company’s convertible promissory notes measured at fair value was $2.3 million and $3.5 million, respectively, and is included in “Other receivables” as of December 31, 2023 and June 30, 2024 in the accompanying condensed consolidated balance sheets. In the three and six months ended June 30, 2023, the Company recognized management fee revenue of $0.2 million and $0.3 million, respectively. In the three and six months ended June 30, 2024, the Company recognized management fee revenue of $0.2 million and $0.3 million, respectively. As of December 31, 2023 and June 30, 2024, the Company had management fee receivables due from Rimere of $0.7 million and $0.1 million, respectively. Excluding management fee revenue, no other revenue from Rimere was recognized in the three and six months ended June 30, 2023. In the three and six months ended June 30, 2024, excluding management fee revenue, the Company recognized $0.1 million of revenue relating to equipment sold to Rimere in the ordinary course of business. Outstanding receivables due from Rimere, excluding management fee receivables, were $0.1 million as of June 30, 2024. There were no outstanding receivables, excluding management fee receivables, due from Rimere as of December 31, 2023.

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