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Fair Value Measurements (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Fair Value Disclosures [Abstract]    
Schedule of assets and liabilities which are measured at fair value on a recurring basis
   Fair Value Measurements as of June 30, 2021 
   Level I   Level II   Level III   Total 
                 
Liability:                
Private Warrants  $
-
   $
-
   $20,811   $20,811 
Contingent consideration -– Quantum Fuel Systems, LLC (Quantum)  $
-
   $
-
   $1,873   $1,873 
Earnout – World Energy  $
-
   $
-
   $1,000   $1,000 
Fair value of obligation to issue                    
shares of common stock to                    
sellers of World Energy  $
-
   $
-
   $2,040   $2,040 

 

   Fair Value Measurements as of December 31, 2020 
   Level I   Level II   Level III   Total 
                 
Liability:                
Public Warrants  $62,100   $
-
   $
-
   $62,100 
Private Warrants  $
-
   $
-
   $81,195   $81,195 
Contingent consideration -– (Quantum)  $
-
   $
-
   $1,849   $1,849 

 

   Fair Value Measurements as of December 31, 2020 
   Level I   Level II   Level III   Total 
                 
Liabilities:                
Public Warrants  $62,100   $
-
   $
-
   $62,100 
Private Placement Warrants   
-
    
-
    81,195    81,195 
Contingent consideration   
-
    
-
    1,849    1,849 

 

   Fair Value Measurements as of December 31, 2019 
   Level I   Level II   Level III   Total 
                 
Liabilities:                
Derivatives  $
          -
   $
-
   $1,349   $1,349 
Contingent consideration   
-
    
-
    1,503    1,503 
Total liabilities  $
-
   $
-
   $2,852   $2,852 

 

Schedule of roll forward of the Company’s Level 3 instruments
Balance, January 1, 2021  $145,144 
Fair value adjustments- Contingent consideration   24 
Obligation to issue shares of common stock to sellers of World Energy   1,526 
Settlement of derivative liability upon exercise of warrants   (47,162)
Settlement of derivative liability upon call of warrants   (591)
Fair value adjustments- Warrant liability   (74,731)
Fair value adjustments – World Energy   514 
Earnout – World Energy   1,000 
Balance, June 30, 2021  $25,724 

 

Balance, January 1, 2019  $
-
 
Increase derivative liability for issuance of convertible notes payable   2,167 
Increase contingent consideration in connection with Quantum business combination   1,421 
Fair value adjustments- Derivatives   (819)
Fair value adjustments- Contingent consideration   83 
Balance, December 31, 2019  $2,852 
Reduce derivative liability for extinguishment of convertible notes payable   (1,349)
Increase derivative liability for issuance of convertible notes payable   5,637 
Private Placement Warrants assumed in connection with the Business Combination   108,280 
Fair value adjustments- Derivatives   2,889 
Fair value adjustments- Contingent consideration   796 
Fair value adjustments- Private Placement Warrants   35,015 
Reduce derivative liability for conversion and repayment of convertible notes   (8,526)
Reduce contingent consideration for cash payment of a portion of obligation   (450)
Balance, December 31, 2020  $145,144 

 

Schedule of Input measurment
Input  Mark-to-Market
Measurement at
June 30,
2021
   Mark-to-Market
Measurement at
December 31,
2020
 
Risk-free rate   0.76%   0.36%
Remaining term in years   4.47    4.98 
Expected volatility   87.1%   95.4%
Exercise price  $11.50   $11.50 
Fair value of common stock  $8.33   $23.73 

 

Input  Initial Measurement at
December 21,
2020
   Mark-to-Market
Measurement at
December 31, 2020
 
Risk-free rate   0.39%   0.36%
Remaining term in years   5.0    4.98 
Expected volatility   95.7%   95.4%
Exercise price  $11.50   $11.50 
Fair value of common stock  $19.54   $23.73