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, 2023

Property, Plant and Equipment Disclosure [Text Block]

7.	Property, plant and equipment, net

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

			December 31,
Asset Class	Useful Life (Years)		2023			2022

Operational equipment		3 - 10	$	3,581		$	1,445
Lab equipment		5		817			730
Computer equipment		3		89			6
Office furniture and equipment		3		90			90
Leasehold improvements		2.5		80			80
Land		-		1,141			—
Building		39		3,131			—
Equipment under construction				3,047			6,486
				11,976			8,837
Less: accumulated depreciation				(1,629	)		(1,494	)

Property, plant and equipment, net			$	10,347		$	7,343

Property, plant and equipment depreciation expense was $0.9 million and $0.5 million for the years ended December 31, 2023 and December 31, 2022, respectively. Equipment under construction is comprised of our lithium-ion battery recycling commercial equipment along with various components being manufactured or installed by the Company.