Quarterly report [Sections 13 or 15(d)]

Note 5 - Property and Equipment, Net

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Note 5 - Property and Equipment, Net
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Property, Plant, and Equipment [Text Block]

5. Property and equipment, net

 

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

 

   

Useful Life

                  

Asset Class

  

(Years)

    

June 30, 2026

    

December 31, 2025

  
                         

Operational equipment

     3 - 10     $ 3,456     $ 3,456  

Lab equipment

     5       1,031       1,031  

Computer equipment

     3       107       107  

Office furniture and equipment

     3       87       87  

Leasehold improvements

     2.5       80       80  

Equipment under construction

             3,990       3,990  
              8,751       8,751  

Less: accumulated depreciation

             (3,381 )     (2,988 )
                         

Total property and equipment, net

           $ 5,370     $ 5,763  

 

Property and equipment depreciation expense was $196,000 and $393,000 for the three and six months ended June 30, 2026 and $200,000 and $421,000 for the three and six months ended June 30, 2025, 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.