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Note 4 - Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Property, Plant and Equipment Disclosure [Text Block] | 4. Property, Plant and Equipment Property, plant and equipment consist of the following:
|  | As of |
|  | December 31, 2024 |  |  | December 31, 2023 |
Land |  | $ | 8,642 |  |  | $ | 7,345 |
Plant and buildings |  |  | 182,724 |  |  |  | 136,318 |
Furniture and fixtures |  |  | 2,686 |  |  |  | 2,266 |
Machinery and equipment |  |  | 5,721 |  |  |  | 14,982 |
Construction in progress |  |  | 46,201 |  |  |  | 73,057 |
Property held for development |  |  | 15,431 |  |  |  | 15,431 |
Finance lease right of use assets |  |  | 2,889 |  |  |  | 2,889 |
Total gross property, plant & equipment |  |  | 264,294 |  |  |  | 252,288 |
Less accumulated depreciation |  |  | (64,902 | ) |  |  | (57,180 | )
Total net property, plant & equipment |  | $ | 199,392 |  |  | $ | 195,108 |
Interest capitalized in property, plant, and equipment was $5.0 million and $5.6 million for the years ended December 31, 2024 and 2023, respectively. Construction in progress includes costs for the biogas construction projects (dairy digesters and pipeline), Riverbank projects (sustainable aviation fuel and renewable diesel plant as well as carbon capture characterization well), and energy efficiency projects at the Keyes Plant. Property held for development is the partially completed Goodland Plant which is not ready for operation. Depreciation will begin for each project when the project is finalized and placed into service. Depreciation on the components of property, plant and equipment is calculated using the straight-line method to allocate their depreciable amounts over their estimated useful lives as follows:
|  | Years |
Plant and buildings |  |  | 20 - 30 |
Machinery and equipment |  |  | 5 - 15 |
Furniture and fixtures |  |  | 3 - 5 |
The Company recorded depreciation expense of approximately $8.3 million and $6.9 million respectively, for the years ended December 31, 2024 and 2023.

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