Annual report pursuant to Section 13 and 15(d)

Note 7 - Property and Equipment, Net

Note 7 - Property and Equipment, Net

12 Months Ended

Dec. 31, 2022

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.