XML 21 R12.htm IDEA: XBRL DOCUMENT
v3.25.2

Property, Plant, and Equipment | 6 Months Ended
--- | ---
Jun. 30, 2025
Property, Plant and Equipment [Abstract] |
Property, Plant, and Equipment | NOTE 6 — Property, Plant, and Equipment The following table summarizes the key classifications of property, plant, and equipment included in the condensed consolidated balance sheets:
|  | June 30, |  | December 31,
$ in thousands |  | 2025 |  | 2024
Demonstration Plant |  | $ | 122,352 |  |  | $ | 122,845 |
Furniture and equipment |  | 1,173 |  |  | 1,069 |
Assets acquired under finance lease |  | 349 |  |  | 349 |
Construction-in-progress |  | 3,326 |  |  | 48,438 |
Total property, plant, and equipment, gross |  | 127,200 |  |  | 172,701 |
Accumulated depreciation and amortization (1) |  | (30,605) |  |  | (21,231) |
Total property, plant, and equipment, net |  | $ | 96,595 |  |  | $ | 151,470 |
___________ (1) As of June 30, 2025 and December 31, 2024, $45 thousand and $18 thousand, respectively, of accumulated depreciation and amortization is related to amortization of the finance lease right-of-use assets. As of December 31, 2024, Construction-in-progress in the table above includes capitalized costs related to Project Permian, the Company’s first utility-scale facility. During the first quarter of 2025, the Company initiated a value engineering process to assess the project’s feasibility and optimize its design and temporarily paused further long lead equipment releases. Consequently, $56.1 million of costs previously included in Construction-in-progress were expensed during the first quarter of 2025. This amount is included in Goodwill impairment and other charges in the condensed consolidated statements of operations and comprehensive loss. See discussion of the impairment test performed for the Demonstration Plant in Note 5 — Goodwill and Intangible Assets. The following table presents the Company’s depreciation expense for the following periods:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
$ in thousands |  | 2025 |  | 2024 |  | 2025 |  | 2024
Depreciation expense |  | $ | 4,613 |  |  | $ | 3,176 |  |  | $ | 9,347 |  |  | $ | 6,353 |

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

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
Name: | us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration