XML 40 R31.htm IDEA: XBRL DOCUMENT
v3.25.2

Related Party Transactions (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Related Party Transactions [Abstract] |
Schedule of Related Party Transactions | The following table summarizes the related party transactions included in the condensed consolidated statements of operations and comprehensive loss:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
$ in thousands |  | 2025 |  | 2024 |  | 2025 |  | 2024
Master services agreement administrative costs |  | $ | 42 |  |  | $ | 27 |  |  | $ | 69 |  |  | $ | 52 |
General and administrative |  | $ | 42 |  |  | $ | 27 |  |  | $ | 69 |  |  | $ | 52 |
Master services agreement costs for Demonstration Plant |  | $ | 668 |  |  | $ | 395 |  |  | $ | 1,254 |  |  | $ | 662 |
BHES JDA |  | 20,178 |  |  | 11,819 |  |  | 38,005 |  |  | 20,165 |
Research and development |  | $ | 20,846 |  |  | $ | 12,214 |  |  | $ | 39,259 |  |  | $ | 20,827 |
BHES Limited Notice to Proceed |  | 19,533 |  |  | — |  |  | 19,533 |  |  | — |
Project development |  | $ | 19,533 |  |  | $ | — |  |  | $ | 19,533 |  |  | $ | — |
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award | The following tables display the expense recognized in the consolidated statement of comprehensive income for shares distributed as payment for services rendered under the terms of the BHES JDA during the periods described below:
|  | Quantity |  | Expense Recognized
|  | Three Months Ended June 30, |  | Three Months Ended June 30,
in thousands |  | 2025 |  | 2024 |  | 2025 |  | 2024
Class A OpCo Units |  | 1,562 |  | 942 |  | $ | 10,323 |  |  | $ | 6,228 |
Class B Common Stock |  | 1,562 |  | 942 |  | — |  |  | — |
Total |  |  |  |  |  | $ | 10,323 |  |  | $ | 6,228 |
|  |  |  |  |  | Quantity |  | Expense Recognized |  |
|  |  |  |  |  | Six Months Ended June 30, |  | Six Months Ended June 30, |  |
in thousands |  |  |  |  |  |  |  |  |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
Class A OpCo Units |  |  |  |  |  |  |  |  |  | 2,809 |  | 1,592 |  | $ | 18,570 |  |  | $ | 10,526 |  |  |
Class B Common Stock |  |  |  |  |  |  |  |  |  | 2,809 |  | 1,592 |  | — |  |  | — |  |  |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 18,570 |  |  | $ | 10,526 |  |  |
The following table disaggregates the variable share-based compensation payable to BHES should it meet its milestone objectives:
$ in thousands |  | Performance Period End Date |  | Compensation Cost Incurred To Date |  | Remaining Compensation Cost |  | Total Compensation Cost
BHES JDA |  | January 2027 |  | $ | 24,216 |  |  | $ | 3,129 |  |  | $ | 27,345 |

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RelatedPartyTransactionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 + Details
Name: | us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration