Annual report pursuant to Section 13 and 15(d)

Note 7 - Property and Equipment, Net

v3.22.4
Note 7 - Property and Equipment, Net
12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

7.                 

Property and equipment, net

 

Property and equipment, net, consisted of the following (in thousands):

 

           

December 31,

 

Asset Class

 

Useful Life (Years)

   

2022

   

2021

 
                         

Operational equipment

    3 - 10     $ 1,445     $ 1,539  

Lab equipment

    5       730       530  

Computer equipment

    3       6       8  

Office furniture and equipment

    3       90       91  

Leasehold improvements

    2.5       80        

Equipment under construction

            6,486       1,328  
              8,837       3,496  

Less: accumulated depreciation

            (1,494 )     (1,129 )
                         
            $ 7,343     $ 2,367  

 

Property and equipment depreciation expense was $0.5 million and $0.6 million for the years ended December 31, 2022 and December 31, 2021, respectively. Equipment under construction is comprised of our lithium-ion battery recycling pilot along with various components being manufactured or installed by the Company.