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Revenues | 12 Months Ended
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Dec. 31, 2025
Revenue from Contract with Customer [Abstract] |
Revenues | Revenues Disaggregated Revenue The following table presents disaggregated revenue in the following categories (in thousands):
|  |  | Years Ended December 31,
|  |  |  |  | 2025 |  | 2024
Contract Types: |  |  |  |  |  |  |
Licensing |  |  |  |  | $ | 19,843 |  |  | $ | 11,297 |
Engineering and other services |  |  |  |  | 16,186 |  |  | 19,761 |
Biorefining revenue |  |  |  |  | $ | 36,029 |  |  | $ | 31,058 |
Joint development agreements |  |  |  |  | 2,425 |  |  | 6,226 |
Contract research |  |  |  |  | 2,766 |  |  | 4,365 |
Joint development and contract research revenue |  |  |  |  | $ | 5,191 |  |  | $ | 10,591 |
CarbonSmart product |  |  |  |  | 14,625 |  |  | 7,943 |
Total Revenue |  |  |  |  | $ | 55,845 |  |  | $ | 49,592 |
The following table presents revenue from partners in collaborative arrangements and from grant contributions which are included in the table above as follows (in thousands):
|  |  | Years Ended December 31,
|  |  |  |  | 2025 |  | 2024
Revenue from partners in collaborative agreements included in the Joint development agreements above |  |  |  |  | $ | 2,425 |  |  | $ | 5,573 |
Revenue from grant contributions included in Engineering and other services above |  |  |  |  | 5,766 |  |  | 6,403 |
Revenue by Geographic Location The following table presents disaggregation of the Company’s revenues by customer location for the years ended December 31, 2025 and 2024 (in thousands):
|  |  | Years Ended December 31,
|  |  |  |  | 2025 |  | 2024
North America |  |  |  |  | $ | 24,682 |  |  | $ | 23,587 |
Europe, Middle East, Africa (EMEA) |  |  |  |  | 14,644 |  |  | 16,260 |
Asia |  |  |  |  | 16,519 |  |  | 8,862 |
Australia |  |  |  |  | — |  |  | 883 |
Total Revenue |  |  |  |  | $ | 55,845 |  |  | $ | 49,592 |
Contract balances The following table provides changes in contract assets and liabilities (in thousands):
| Current Contract Assets |  | Current Contract Liabilities |  | Non-current Contract Liabilities
Balance as of December 31, 2024 | $ | 18,975 |  |  | $ | 6,168 |  |  | $ | 5,233 |
Additions to unbilled accounts receivable | 21,204 |  |  | — |  |  | — |
Increases due to consideration received | — |  |  | 6,692 |  |  | — |
Unbilled accounts receivable recognized in trade receivables | (32,001) |  |  | — |  |  | — |
Allowance on doubtful contract assets | (1,864) |  |  |  |  |
Increase on revaluation on currency | 227 |  |  | 2 |  |  | 665 |
Reclassification from long-term to short-term | — |  |  | 2 |  |  | (2) |
Reclassification to revenue because of performance obligations satisfied | — |  |  | (12,441) |  |  | — |
Balance as of December 31, 2025 | $ | 6,541 |  |  | $ | 423 |  |  | $ | 5,896 |
The decrease in contract assets was mostly due to billing certain customers and government entities for engineering and other services that were previously recorded as contract assets. As of December 31, 2025 and December 31, 2024, the Company had $9,527 and $9,456, respectively, of billed accounts receivable, net of allowance. The decrease in current contract liabilities was primarily due to the reclassification due to the satisfaction of performance obligations, while the increase in non-current contract liabilities was primarily due to revaluation of foreign exchange currency. Remaining performance obligations Transaction price allocated to the remaining performance obligations represents contracted revenue that has not yet been recognized, including unearned revenue to be recognized in future periods. Transaction price allocated to remaining performance obligations is influenced by factors such as project size, duration, contract modifications, and customer-specific acceptance rights. As of December 31, 2025, the Company had approximately $42,727 in contracted revenue remaining to be recognized, of which $14,779 is expected to be recognized in the next  twelve months.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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