Property, Plant and Equipment, net (Tables)

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property, plant, and equipment, net

Property, plant and equipment, net, consisted of the following:


				September 30,				December 31,
(in thousands)		Estimated Useful Life (Years)		2024				2023
Land and improvements		20		$	95			$	92
Leasehold improvements		Shorter of useful life or lease term			110,543				110,531
Buildings		20-40			2,191				2,191
Machinery and equipment		3-20			190,359				190,111
Motor vehicles		7-10			903				903
Furniture and fixtures		3-10			474				474
Office equipment		3-10			7,447				7,415
Construction in progress		N/A			206,624				202,998
					518,636				514,715
Accumulated depreciation and amortization					(88,405	)			(69,562	)
Property, plant and equipment, net				$	430,231			$	445,153

Schedule of depreciation and amortization expense

We reported depreciation and amortization expense (which included amortization of intangible assets) as follows:


		Three Months Ended September 30,								Nine Months Ended September 30,
(in thousands)		2024				2023				2024				2023
Cost of revenue		$	5,049			$	5,086			$	15,301			$	15,233
Research and development			1,958				1,865				5,962				5,903
Selling, general and administrative			369				302				1,082				869
Total depreciation and amortization expense		$	7,376			$	7,253			$	22,345			$	22,005

Schedule of Construction in Progress

Construction in progress consists primarily of the early phases of construction of our PHA plant in Bainbridge, Georgia (“Greenfield Facility”) as noted in the table below.


(in thousands)		September 30, 2024				December 31, 2023
Georgia		$	201,951			$	199,342
Kentucky			2,842				1,696
New York			1,831				1,960
		$	206,624			$	202,998