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Revenues
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenues
Note 4 — Revenues
Disaggregated Revenue
The following table presents disaggregated revenue in the following categories (in thousands):
Nine months ended September 30,
20222021
Contract Types:
Joint development agreements$4,018 $10,660 
Other contract research4,100 1,393 
Research and development revenue8,118 12,053 
Licensing1,620 1,518 
CarbonSmart3,413 — 
Engineering and other services12,630 4,756 
Carbon capture and transformation revenue17,663 6,274 
Total Revenue
$25,781 $18,327 
Revenue from collaborative partners of $1,733 and $2,662 for the nine months ended September 30, 2022 and 2021, is included in the table above within joint development agreements. Revenue from related parties is included in licensing for $1,620 and $1,518 with the remaining revenue of $496 and $830 in Engineering and other services, for the nine months ended September 30, 2022 and 2021, respectively.
The following table presents disaggregation of the Company’s revenues by customer location for the nine months ended September 30, 2022 and 2021 (in thousands):
Nine months ended September 30,
20222021
North America$12,361 $12,725 
Europe, Middle East, Africa (EMEA)7,894 5,210 
Asia4,151 242 
Australia1,375 150 
Total Revenue
$25,781 $18,327 
Contract balances
The following table provides changes in contract assets and liabilities (in thousands):
Current Contract AssetsCurrent Contract LiabilitiesNon-current Contract Liabilities
Balance as of January 1, 2022 as Restated$11,700 $3,476 $13,901 
Additions to unbilled accounts receivable19,355 — — 
Increases due to cash received— 775 37 
Unbilled accounts receivable recognized in trade receivables(16,085)— — 
Decrease on revaluation on currency(122)— (804)
Reclassification from non-current to current contract liabilities— 2,015 (2,015)
Reclassification to revenue as a result of performance obligations satisfied— (3,298)— 
Balance as of September 30, 2022$14,848 $2,968 $11,119 
The increase in contract assets was mostly due to unbilled accounts receivables from contracts with customers where the Company performed engineering and other services, while the decrease in contract liabilities was primarily due to the recognition of revenue during the period related to advance payments previously received by the Company for engineering and other services contracts with customers. As of September 30, 2022 and December 31, 2021 the Company had $11,588 and $2,878, respectively, of billed accounts receivable, net of allowance.
The contract liability balance is comprised of unconditional payments received from the Company’s customers prior to the satisfaction of the related performance obligations. Such amounts are anticipated to be recorded as revenues when services are performed in subsequent periods. The Company expects to recognize the amounts classified as current contract liabilities, in revenue within one year or less and those classified as non-current within two to three years.
Remaining performance obligations
Transaction price allocated to the remaining performance obligation represents contracted revenue that has not yet been recognized, which includes unearned revenue that will be recognized as revenue in future periods. Transaction price allocated to remaining performance obligations is influenced by several factors, including the length of the contract term compared to the research term and the existence of customer specific acceptance rights.
Remaining performance obligations consisted of the following (in thousands):
As of
September 30, 2022December 31, 2021
Current$2,968 $3,476 
Non-current11,119 13,901 
Total
$14,087 $17,377 
Revenues
Disaggregated Revenue
The following table presents disaggregated revenue in the following categories (in thousands):
 Year Ended December 31,
20212020
 as Restatedas Restated
Contract Types:
Joint development agreements$11,700 $6,928 
Other contract research$2,197 1,982 
Research and development revenue$13,897 8,910 
Licensing$2,025 1,018 
Engineering and other services$9,539 8,425 
Carbon capture and transformation revenue$11,564 9,443 
Total Revenue
$25,461 $18,353 
Revenue from collaborative partners is included in the table above within joint development agreements.
The following table presents disaggregation of the Company’s revenues by customer location for the years ended December 31, 2021 and 2020 (in thousands):
Year Ended December 31,
20212020
as Restatedas Restated
North America$15,825 $15,732 
Europe7,522 2,117 
Asia1,477 504 
Australia637 — 
Total Revenue
$25,461 $18,353 
Contract balances
The following table provides changes in contract assets and liabilities during the year ended December 31, 2021.
Current Contract AssetsCurrent Contract LiabilitiesNon-current Contract Liabilities
Balance as of December 31, 2020 as Restated$6,186 $5,480 $11,291 
Additions to unbilled accounts receivable as Restated8,516 — — 
Increases due to cash received— 20 5,690 
Unbilled accounts receivable recognized in trade receivables as Restated(3,002)— — 
Reclassification from long-term to short-term— 3,080 (3,080)
Reclassification to revenue as a result of performance obligations satisfied— (5,104)— 
Balance as of December 31, 2021$11,700 $3,476 $13,901 
The increase in contract assets was mostly due to unbilled accounts receivables from contracts with customers where the Company performed engineering and other services, while the increase in contract liabilities was primarily due to advance payments received under engineering and other services. As of December 31, 2021 and 2020 the Company had $2,878 and $5,521, respectively, of billed accounts receivable.
The contract liability balance is comprised of unconditional payments received from the Company’s customers prior to the satisfaction of the related performance obligations. Such amounts are anticipated to be recorded as revenues when services are performed in subsequent periods. The Company expects to recognize the amounts classified as current contract liabilities, in revenue within one year or less and those classified as non-current within two and three years.
Remaining performance obligations
Transaction price allocated to the remaining performance obligation represents contracted revenue that has not yet been recognized, which includes unearned revenue that will be recognized as revenue in future periods. Transaction price allocated to remaining performance obligations is influenced by several factors, including the length of the contract term compared to the research term and the existence of customer specific acceptance rights.
Remaining performance obligations consisted of the following (in thousands):
Year Ended December 31,
20212020
Current$3,476 $5,480 
Non-current13,901 11,291 
Total
$17,377 $16,771