v3.26.1
Plant and Equipment
12 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Plant and Equipment
7.
Plant and Equipment

The Company’s plant and equipment as of March 31, 2026 and March 31, 2025 are as follows (in thousands):

 

 

 

March 31,

 

 

March 31,

 

 

 

2026

 

 

2025

 

Initial MDLE Plant

 

$

29,449

 

 

$

29,429

 

Equipment

 

 

921

 

 

 

544

 

Office equipment

 

 

37

 

 

 

33

 

 

 

30,407

 

 

 

30,006

 

Less: accumulated depreciation

 

 

3,565

 

 

 

1,556

 

 

 

$

26,842

 

 

$

28,450

 

Depreciation expense for the years ended March 31, 2026 and 2025 was $2.0 million and $1.6 million, respectively. The Initial MDLE Plant was mobilized to a customer site in June 2024, and depreciation began upon commencement.