16. Investments

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Equity Method Investments

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As of June 30, 2024 and December 31, 2023, the Company accounted for the following investments in the investee’s common stock under the equity method, which are included in the investments in non-consolidated entities and non-marketable equity securities on the unaudited interim condensed consolidated balance sheets (amounts in thousands):

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As of December 31, 2023, the Company’s investment in HyVia was negative due to historical losses. The Company is committed to fund its share of losses of the joint venture and, therefore, continued to record losses as incurred. The negative equity investment as of December 31, 2023 was recorded on the unaudited interim condensed consolidated balance sheet to the contingent consideration, loss accrual for service contracts, and other liabilities financial statement line item.

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During the three months ended June 30, 2024, the Company contributed approximately $16.1 million, $0, $16.0 million and $9.7 million to HyVia, AccionaPlug, SK Plug Hyverse and Clean H2 Infra Fund, respectively. During the three months ended June 30, 2023, the Company contributed approximately $0, $0.8 million, $0 and $3.3 million to HyVia, AccionaPlug, SK Plug Hyverse and Clean H2 Infra Fund, respectively.

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During the six months ended June 30, 2024, the Company contributed approximately $32.3 million, $1.7 million, $16.0 million and $13.7 million to HyVia, AccionaPlug, SK Plug Hyverse and Clean H2 Infra Fund, respectively. During the six months ended June 30, 2023, the Company contributed approximately $22.3 million, $0.8 million, $17.8 million and $3.3 million to HyVia, AccionaPlug, SK Plug Hyverse and Clean H2 Infra Fund, respectively.

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The Company’s capital commitments related to its equity method investments as of June 30, 2024 includes $23.7 million to be made during the remainder of 2024.