XML 28 R16.htm IDEA: XBRL DOCUMENT
v3.22.1

Property, plant and equipment, net | 12 Months Ended
--- | ---
Dec. 31, 2021
Property, plant and equipment, net [Abstract] |
Property, plant and equipment, net | 9. Property, plant and equipment, net Our property, plant and equipment, net, consisted of the following:
|  | December 31, 2021 |  |  | December 31, 2020 |
Land, Buildings & Leasehold Improvements |  | $ | 1,888,438 |  |  |  | 15,883 |
Machinery |  |  | 8,756,437 |  |  |  | 561,928 |
Equipment |  |  | 4,090,534 |  |  |  | 113,222 |
Assets under construction |  |  | 430,455 |  |  |  | - |
|  | $ | 15,165,864 |  |  | $ | 691,033 |
Less: accumulated depreciation |  |  | (6,580,876 | ) |  |  | (492,296 | )
Total |  | $ | 8,584,988 |  |  | $ | 198,737 |
Upon acquisition of UltraCell LLC, the Company acquired property and equipment with a net book value of $0.01 million. Upon acquisition of SerEnergy and FES, the Company acquired property and equipment with a net book value of $5.36 million. During the year ended December 31, 2021, additions to property, plant and equipment of $3.9 million include leasehold improvements, machinery, office and other equipment and assets under construction. Assets under construction mainly relate to the design and construction of Company’s leased premises at Hood Park in Charlestown, as discussed in Note 7. Completed assets are transferred to their respective asset classes, and depreciation begins when an asset is ready for its intended use. During the year ended December 31, 2021 an amount of $0.3 million was transferred from assets under construction to machinery and equipment. Depreciation expense during the years ended December 31, 2021 and 2020 was $0.56 million and $0.02 million respectively. There are no collaterals or other commitments on the Company’s property, plant and equipment.

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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
Name: | us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration