Commitments and Contingencies

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

NOTE 15 — Commitments and Contingencies

Asset Retirement Obligation

The Company's valuation of the asset retirement obligation related to the Demonstration Plant encompasses an estimate for the cost to restore the site as required by lease terms.

The following table reconciles the beginning and ending balances of the asset retirement obligation as of the dates presented:


	Period from						Period from
	April 1 – June 30, 2024 (Successor)		June 8 – June 30, 2023 (Successor)		April 1 – June 7, 2023 (Predecessor)		January 1 - June 30, 2024 (Successor)		June 8 – June 30, 2023 (Successor)		January 1 – June 7, 2023 (Predecessor)
Asset retirement obligation, beginning of period	$	2,103	$	1,967	$	2,475	$	2,060	$	1,967	$	2,416
Obligation incurred	—		—		—		—		—		—
Accretion expense	43		10		43		86		10		102
Asset retirement obligation, end of period	$	2,146	$	1,977	$	2,518	$	2,146	$	1,977	$	2,518

Unconditional Purchase Obligations

The Company has committed to purchase industrial components for installation at its Demonstration Plant and its first commercial power plant. The Company pays for these components in installments aligned to contractual milestones. In accordance with ASC Topic 440, Commitments, the Company does not recognize these commitments on the condensed consolidated balance sheets.

As of June 30, 2024, the Company had $99,426 of remaining purchase obligations through February 2027 related to the BHES JDA, which is expected to be settled 50% in cash and 50% in common stock. In addition, the Company had $55,635 of additional remaining asset purchase obligations through 2025.